First Horizon Advisors Inc. Sells 209 Shares of Eversource Energy (NYSE:ES)

First Horizon Advisors Inc. trimmed its holdings in shares of Eversource Energy (NYSE:ES) by 25.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 627 shares of the utilities provider’s stock after selling 209 shares during the period. First Horizon Advisors Inc.’s holdings in Eversource Energy were worth $39,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of the business. Exchange Traded Concepts LLC bought a new position in shares of Eversource Energy in the fourth quarter valued at about $26,000. Bfsg LLC acquired a new stake in shares of Eversource Energy in the 4th quarter valued at $31,000. Hexagon Capital Partners LLC raised its position in shares of Eversource Energy by 84.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 596 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 272 shares during the last quarter. CVA Family Office LLC acquired a new position in shares of Eversource Energy during the fourth quarter valued at $43,000. Finally, MV Capital Management Inc. boosted its holdings in Eversource Energy by 40.4% in the third quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 206 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ES. Mizuho upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their target price for the company from $54.00 to $62.00 in a research report on Thursday, February 15th. Wells Fargo & Company raised their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. Citigroup upped their target price on shares of Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Scotiabank reduced their price target on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Finally, Argus dropped their price objective on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a report on Monday, March 25th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and an average price target of $66.23.

Insider Activity

In related news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction 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 completion of the transaction, the insider now owns 21,621 shares in the company, valued at $1,245,369.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the business’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 owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frederica M. Williams sold 2,714 shares of the company’s 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 sale, the insider now owns 21,621 shares in the company, valued at approximately $1,245,369.60. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Eversource Energy Price Performance

Shares of ES opened at $61.04 on Thursday. The stock has a 50 day simple moving average of $59.25 and a 200 day simple moving average of $58.24. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $77.53. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67. The firm has a market capitalization of $21.41 billion, a PE ratio of -51.73, a P/E/G ratio of 3.21 and a beta of 0.57.

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

Eversource Energy Dividend Announcement

The company also recently declared 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 dividend yield of 4.69%. The ex-dividend date of this dividend is Wednesday, May 15th. Eversource Energy’s dividend payout ratio is -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.