Retirement Systems of Alabama Sells 1,944 Shares of Eversource Energy (NYSE:ES)

Retirement Systems of Alabama lowered its holdings in Eversource Energy (NYSE:ES) by 2.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 76,988 shares of the utilities provider’s stock after selling 1,944 shares during the period. Retirement Systems of Alabama’s holdings in Eversource Energy were worth $4,752,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Czech National Bank increased its position in shares of Eversource Energy by 0.3% during the fourth quarter. Czech National Bank now owns 61,182 shares of the utilities provider’s stock valued at $3,776,000 after buying an additional 168 shares during the period. Pinion Investment Advisors LLC increased its holdings in Eversource Energy by 4.1% during the 3rd quarter. Pinion Investment Advisors LLC now owns 4,955 shares of the utilities provider’s stock worth $288,000 after acquiring an additional 197 shares during the period. Assetmark Inc. lifted its stake in Eversource Energy by 22.8% in the 3rd quarter. Assetmark Inc. now owns 1,087 shares of the utilities provider’s stock worth $63,000 after purchasing an additional 202 shares in the last quarter. MV Capital Management Inc. boosted its holdings in Eversource Energy by 40.4% in the 3rd 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 period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA grew its position in shares of Eversource Energy by 22.1% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,217 shares of the utilities provider’s stock valued at $66,000 after purchasing an additional 220 shares in the last quarter. 79.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ES. BMO Capital Markets increased their price objective on Eversource Energy from $65.00 to $66.00 and gave the stock a “market perform” rating in a research report on Friday. The Goldman Sachs Group began coverage on Eversource Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price target for the company. Wells Fargo & Company upped their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday. StockNews.com upgraded shares of Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. Finally, Guggenheim raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $60.00 to $72.00 in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $66.23.

Insider Buying and Selling

In related news, insider Linda Dorcena Forry sold 822 shares of the firm’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 transaction, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction that occurred 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 sale, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now owns 21,621 shares in the company, valued at $1,245,369.60. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Eversource Energy Stock Performance

Shares of NYSE ES opened at $60.01 on Monday. The stock has a market cap of $21.05 billion, a price-to-earnings ratio of -50.86, a P/E/G ratio of 3.21 and a beta of 0.57. 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 $77.97. The stock’s 50-day moving average is $59.17 and its 200 day moving average is $58.14.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.22% and a negative net margin of 3.60%. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the company earned $1.41 EPS. Eversource Energy’s revenue for the quarter was down 12.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Eversource Energy will post 4.49 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be given a dividend of $0.715 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.86 annualized dividend and a yield of 4.77%. Eversource Energy’s payout ratio is -242.37%.

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.