Allianz Asset Management GmbH Reduces Stock Holdings in Eversource Energy (NYSE:ES)

Allianz Asset Management GmbH cut its stake in shares of Eversource Energy (NYSE:ESFree Report) by 71.8% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 122,650 shares of the utilities provider’s stock after selling 311,854 shares during the period. Allianz Asset Management GmbH’s holdings in Eversource Energy were worth $7,570,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Keybank National Association OH increased its position in shares of Eversource Energy by 16.6% during the third quarter. Keybank National Association OH now owns 16,074 shares of the utilities provider’s stock worth $935,000 after acquiring an additional 2,286 shares during the last quarter. Kestra Private Wealth Services LLC raised its position in shares of Eversource Energy by 26.5% in the 3rd quarter. Kestra Private Wealth Services LLC now owns 17,725 shares of the utilities provider’s stock valued at $1,031,000 after purchasing an additional 3,708 shares in the last quarter. Oppenheimer & Co. Inc. boosted its stake in shares of Eversource Energy by 11.7% during the 3rd quarter. Oppenheimer & Co. Inc. now owns 12,363 shares of the utilities provider’s stock valued at $719,000 after buying an additional 1,292 shares during the last quarter. J.P. Morgan Private Wealth Advisors LLC acquired a new stake in shares of Eversource Energy during the third quarter worth approximately $2,883,000. Finally, Amalgamated Bank increased its stake in shares of Eversource Energy by 1.0% in the third quarter. Amalgamated Bank now owns 88,929 shares of the utilities provider’s stock worth $5,171,000 after buying an additional 919 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on ES. BMO Capital Markets raised their price objective on shares of Eversource Energy from $65.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. StockNews.com raised Eversource Energy to a “sell” rating in a report on Thursday, March 28th. Morgan Stanley increased their target price on Eversource Energy from $64.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 28th. Wells Fargo & Company boosted their price target on Eversource Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Finally, Bank of America raised their price objective on Eversource Energy from $50.00 to $61.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average price target of $66.07.

Get Our Latest Analysis on Eversource Energy

Insider Transactions at Eversource Energy

In related news, VP Gregory B. Butler sold 10,000 shares of the 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 completion of the transaction, the vice president now owns 63,808 shares in the company, valued at approximately $3,586,009.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 2,700 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the sale, the executive vice president now directly owns 10,272 shares of the company’s stock, valued at approximately $603,480. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total value of $562,000.00. Following the completion of the sale, the vice president now owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The disclosure for this sale can be found here. 0.29% of the stock is owned by insiders.

Eversource Energy Stock Performance

Shares of ES stock opened at $60.82 on Wednesday. The stock has a 50-day simple moving average of $59.65 and a 200 day simple moving average of $58.93. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $74.81. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ESGet Free Report) last posted its quarterly earnings data 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 10.32%. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the firm posted $1.41 EPS. The business’s revenue for the quarter was down 12.2% on a year-over-year basis. On average, equities analysts predict that Eversource Energy will post 4.53 earnings per share for the current year.

Eversource Energy Announces Dividend

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. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.70%. The ex-dividend date is Wednesday, May 15th. Eversource Energy’s payout ratio is -242.37%.

Eversource Energy Company 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.

See Also

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

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