Northern Trust Corp Sells 301,169 Shares of Eversource Energy (NYSE:ES)

Northern Trust Corp reduced its stake in Eversource Energy (NYSE:ESFree Report) by 7.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,936,305 shares of the utilities provider’s stock after selling 301,169 shares during the period. Northern Trust Corp owned approximately 1.13% of Eversource Energy worth $242,949,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in Eversource Energy during the fourth quarter valued at approximately $149,906,000. Morgan Stanley raised its position in Eversource Energy by 19.3% during the third quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock valued at $259,595,000 after purchasing an additional 723,318 shares in the last quarter. American Century Companies Inc. raised its position in Eversource Energy by 23.7% during the third quarter. American Century Companies Inc. now owns 3,663,024 shares of the utilities provider’s stock valued at $213,005,000 after purchasing an additional 702,360 shares in the last quarter. Qube Research & Technologies Ltd raised its position in Eversource Energy by 1,551.5% during the third quarter. Qube Research & Technologies Ltd now owns 708,437 shares of the utilities provider’s stock valued at $41,196,000 after purchasing an additional 665,540 shares in the last quarter. Finally, Nordea Investment Management AB raised its position in Eversource Energy by 11.6% during the third quarter. Nordea Investment Management AB now owns 5,824,459 shares of the utilities provider’s stock valued at $339,974,000 after purchasing an additional 605,702 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the sale, the vice president now owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction dated Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the transaction, the executive vice president now owns 10,272 shares of the company’s stock, valued at approximately $603,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction dated Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the transaction, the vice president now directly owns 63,808 shares in the company, valued at approximately $3,586,009.60. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. The Goldman Sachs Group assumed coverage on shares of Eversource Energy in a report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price target for the company. Scotiabank lowered their price target on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Morgan Stanley upped their price target on shares of Eversource Energy from $64.00 to $70.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 28th. Mizuho upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $54.00 to $62.00 in a report on Thursday, February 15th. Finally, Bank of America upped their price target on shares of Eversource Energy from $50.00 to $61.00 and gave the stock an “underperform” rating in a report on Wednesday, May 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $66.07.

Read Our Latest Stock Report on Eversource Energy

Eversource Energy Stock Performance

Shares of ES opened at $58.58 on Friday. 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 stock has a market capitalization of $20.64 billion, a P/E ratio of -49.64, a price-to-earnings-growth ratio of 2.39 and a beta of 0.60. The firm’s fifty day simple moving average is $59.62 and its two-hundred day simple moving average is $58.93. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $74.81.

Eversource Energy (NYSE:ESGet Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 EPS 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 10.32%. The business’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.41 earnings per share. As a group, analysts predict that Eversource Energy will post 4.53 EPS for the current year.

Eversource Energy Announces Dividend

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 given a dividend of $0.715 per share. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a yield of 4.88%. Eversource Energy’s dividend payout ratio (DPR) is currently -242.37%.

About Eversource Energy

(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

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

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