Swiss National Bank Decreases Holdings in Eversource Energy (NYSE:ES)

Swiss National Bank reduced its position in Eversource Energy (NYSE:ES) by 2.7% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 1,091,533 shares of the utilities provider’s stock after selling 30,600 shares during the period. Swiss National Bank’s holdings in Eversource Energy were worth $67,369,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently modified their holdings of the company. Stratos Wealth Partners LTD. lifted its position in shares of Eversource Energy by 10.6% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 10,236 shares of the utilities provider’s stock valued at $595,000 after buying an additional 984 shares in the last quarter. Independent Advisor Alliance lifted its position in shares of Eversource Energy by 4.6% in the third quarter. Independent Advisor Alliance now owns 7,202 shares of the utilities provider’s stock valued at $419,000 after acquiring an additional 318 shares in the last quarter. Lindbrook Capital LLC boosted its stake in shares of Eversource Energy by 56.1% in the third quarter. Lindbrook Capital LLC now owns 2,657 shares of the utilities provider’s stock worth $155,000 after acquiring an additional 955 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Eversource Energy by 15.5% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 430,493 shares of the utilities provider’s stock valued at $25,033,000 after purchasing an additional 57,920 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in Eversource Energy by 34.6% in the 3rd quarter. Mackenzie Financial Corp now owns 44,222 shares of the utilities provider’s stock worth $2,479,000 after purchasing an additional 11,372 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

ES has been the topic of several recent analyst reports. UBS Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $67.00 in a research report on Thursday, April 4th. Scotiabank decreased their price target on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Barclays cut their price objective on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, January 22nd. BMO Capital Markets boosted their target price on Eversource Energy from $65.00 to $66.00 and gave the stock a “market perform” rating in a research report on Friday. Finally, Mizuho raised Eversource Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $54.00 to $62.00 in a research note on Thursday, February 15th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $66.23.

Insider Buying and Selling at Eversource Energy

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

Eversource Energy Stock Performance

NYSE ES opened at $60.01 on Monday. The business’s 50 day moving average price is $59.17 and its 200-day moving average price is $58.14. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $77.97. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. The business had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.22%. The business’s revenue was down 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 earnings per share. On average, analysts forecast that Eversource Energy will post 4.49 earnings per share for the current year.

Eversource Energy Announces Dividend

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

Eversource Energy 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.