Yousif Capital Management LLC Sells 16,961 Shares of Eversource Energy (NYSE:ES)

Yousif Capital Management LLC lessened its holdings in shares of Eversource Energy (NYSE:ES) by 25.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 49,053 shares of the utilities provider’s stock after selling 16,961 shares during the period. Yousif Capital Management LLC’s holdings in Eversource Energy were worth $3,028,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ES. Exchange Traded Concepts LLC purchased a new position in Eversource Energy during the 4th quarter valued at about $26,000. UMB Bank n.a. lifted its holdings in shares of Eversource Energy by 130.9% during the third quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 364 shares during the last quarter. MV Capital Management Inc. lifted its holdings in shares of Eversource Energy by 40.4% during the third quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 206 shares during the last quarter. CVA Family Office LLC bought a new stake in shares of Eversource Energy in the 4th quarter worth approximately $43,000. Finally, Blue Trust Inc. grew its stake in shares of Eversource Energy by 172.7% in the 4th quarter. Blue Trust Inc. now owns 758 shares of the utilities provider’s stock worth $44,000 after buying an additional 480 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Down 1.8 %

Shares of ES opened at $59.46 on Monday. The firm has a fifty day simple moving average of $58.94 and a two-hundred day simple moving average of $57.94. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $78.64.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). The firm had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $3 billion. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The firm’s revenue was down 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.92 EPS. On average, equities research analysts expect that Eversource Energy will post 4.51 EPS for the current year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were issued a dividend of $0.715 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. This represents a $2.86 dividend on an annualized basis and a yield of 4.81%. The ex-dividend date of this dividend was Monday, March 4th. Eversource Energy’s dividend payout ratio is currently -226.98%.

Insiders Place Their Bets

In related news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the transaction, the insider now directly owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Eversource Energy news, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the transaction, the insider now owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the transaction, the insider now owns 10,485 shares of the company’s stock, valued at $609,388.20. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Analyst Ratings Changes

ES has been the subject of a number of recent research reports. Scotiabank lowered their price objective on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Barclays dropped their price target on shares of Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Monday, January 22nd. UBS Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $62.00 to $67.00 in a research note on Thursday, April 4th. Citigroup lifted their target price on shares of Eversource Energy from $58.00 to $62.00 and gave the stock a “neutral” rating in a report on Thursday, February 15th. Finally, The Goldman Sachs Group began coverage on shares of Eversource Energy in a report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price target on the stock. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $65.85.

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.