Parallel Advisors LLC Lowers Position in Eversource Energy (NYSE:ES)

Parallel Advisors LLC lessened its holdings in Eversource Energy (NYSE:ESFree Report) by 25.7% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 3,202 shares of the utilities provider’s stock after selling 1,105 shares during the period. Parallel Advisors LLC’s holdings in Eversource Energy were worth $198,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in ES. Heritage Wealth Advisors bought a new position in shares of Eversource Energy during the fourth quarter valued at about $25,000. Exchange Traded Concepts LLC bought a new stake in shares of Eversource Energy in the fourth quarter worth about $26,000. Bfsg LLC bought a new stake in shares of Eversource Energy in the fourth quarter worth about $31,000. Hexagon Capital Partners LLC grew its stake in shares of Eversource Energy by 84.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 596 shares of the utilities provider’s stock worth $37,000 after purchasing an additional 272 shares during the last quarter. Finally, CVA Family Office LLC bought a new stake in shares of Eversource Energy in the fourth quarter worth about $43,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Buying and Selling

In related news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total value of $562,000.00. Following the transaction, the vice president now directly owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.29% of the stock is owned by insiders.

Eversource Energy Stock Up 0.8 %

Shares of ES opened at $59.70 on Tuesday. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71. The firm has a fifty day simple moving average of $59.56 and a two-hundred day simple moving average of $58.91. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $74.81.

Eversource Energy (NYSE:ESGet Free Report) last announced its earnings results 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 during the quarter, compared to analyst estimates of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The company’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.41 EPS. On average, equities research analysts expect that Eversource Energy will post 4.53 EPS for the current year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be issued a $0.715 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a yield of 4.79%. Eversource Energy’s dividend payout ratio is currently -242.37%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Bank of America raised their target price on Eversource Energy from $50.00 to $61.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 15th. Wells Fargo & Company lifted their price objective on Eversource Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Morgan Stanley lifted their price objective on Eversource Energy from $64.00 to $70.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 28th. StockNews.com raised Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. Finally, Mizuho raised Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $54.00 to $62.00 in a research report on Thursday, February 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $66.07.

View Our Latest Stock Analysis on Eversource Energy

Eversource Energy Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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