Tocqueville Asset Management L.P. Sells 2,551 Shares of Eversource Energy (NYSE:ES)

Tocqueville Asset Management L.P. lowered its stake in shares of Eversource Energy (NYSE:ES) by 29.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,210 shares of the utilities provider’s stock after selling 2,551 shares during the quarter. Tocqueville Asset Management L.P.’s holdings in Eversource Energy were worth $357,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Brooklyn Investment Group bought a new position in shares of Eversource Energy during the 3rd quarter worth about $31,000. Kestra Investment Management LLC bought a new stake in shares of Eversource Energy in the fourth quarter valued at about $29,000. Assetmark Inc. grew its position in Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after buying an additional 254 shares in the last quarter. Larson Financial Group LLC increased its stake in Eversource Energy by 162.0% during the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 350 shares during the period. Finally, Venturi Wealth Management LLC increased its stake in Eversource Energy by 104.5% during the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 301 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ES. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Thursday, March 13th. Wells Fargo & Company decreased their price target on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group dropped their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Barclays decreased 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 report on Wednesday, January 22nd. Finally, Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $67.45.

Insider Activity at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the sale, the vice president now owns 24,374 shares of the company’s stock, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the transaction, the insider now owns 22,671 shares of the company’s stock, valued at $1,411,496.46. This trade represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.

Eversource Energy Price Performance

Shares of Eversource Energy stock opened at $61.58 on Friday. The stock has a market capitalization of $22.61 billion, a price-to-earnings ratio of 26.66, a P/E/G ratio of 2.35 and a beta of 0.60. The firm’s 50-day moving average price is $59.84 and its two-hundred day moving average price is $61.93. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a 1-year low of $54.75 and a 1-year high of $69.01.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. On average, equities analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be paid a $0.7525 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.89%. Eversource Energy’s dividend payout ratio (DPR) is 130.30%.

Eversource Energy Company Profile

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.