AlphaQuest LLC Reduces Stock Holdings in Eversource Energy (NYSE:ES)

AlphaQuest LLC decreased its holdings in Eversource Energy (NYSE:ES) by 82.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,388 shares of the utilities provider’s stock after selling 44,920 shares during the quarter. AlphaQuest LLC’s holdings in Eversource Energy were worth $539,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. lifted its position in Eversource Energy by 33.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock valued at $2,306,000 after buying an additional 9,981 shares during the period. Verity & Verity LLC purchased a new position in Eversource Energy during the fourth quarter valued at $744,000. Nordea Investment Management AB lifted its position in Eversource Energy by 41.7% during the fourth quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock valued at $99,554,000 after buying an additional 510,582 shares during the period. Landscape Capital Management L.L.C. lifted its position in Eversource Energy by 46.9% during the third quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock valued at $2,151,000 after buying an additional 10,093 shares during the period. Finally, Everett Harris & Co. CA lifted its position in Eversource Energy by 125.2% during the fourth quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock valued at $465,000 after buying an additional 4,500 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insiders Place Their Bets

In related news, insider Frederica M. Williams sold 3,092 shares of the firm’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the transaction, the insider now directly owns 22,671 shares of the company’s stock, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the transaction, the vice president now directly owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is owned by company insiders.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $59.47 on Thursday. The firm’s 50 day moving average price is $59.28 and its 200-day moving average price is $62.13. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $21.81 billion, a PE ratio of 25.74, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, topping the consensus estimate of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. Equities research analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be paid a dividend of $0.7525 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a yield of 5.06%. Eversource Energy’s dividend payout ratio (DPR) is presently 130.30%.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on ES shares. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Jefferies Financial Group lowered their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. Wells Fargo & Company lowered their price target on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Guggenheim restated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Finally, Barclays lowered their target price on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Three research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and a consensus price target of $67.45.

About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.