Envestnet Asset Management Inc. Has $18.18 Million Stake in Eversource Energy (NYSE:ES)

Envestnet Asset Management Inc. cut its stake in Eversource Energy (NYSE:ES) by 22.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 292,674 shares of the utilities provider’s stock after selling 84,512 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.08% of Eversource Energy worth $18,178,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of ES. Vanguard Group Inc. raised its holdings in Eversource Energy by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock worth $2,561,936,000 after purchasing an additional 1,387,072 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Eversource Energy by 38.6% during the fourth quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider’s stock valued at $945,893,000 after purchasing an additional 4,585,232 shares during the last quarter. Geode Capital Management LLC lifted its holdings in shares of Eversource Energy by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider’s stock worth $547,550,000 after buying an additional 517,042 shares in the last quarter. FMR LLC increased its position in shares of Eversource Energy by 4.8% in the fourth quarter. FMR LLC now owns 7,352,593 shares of the utilities provider’s stock worth $422,259,000 after purchasing an additional 333,529 shares during the last quarter. Finally, Magellan Asset Management Ltd grew its position in Eversource Energy by 15.9% during the fourth quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider’s stock valued at $371,829,000 after acquiring an additional 890,514 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total transaction of $166,400.00. Following the completion of the transaction, the executive vice president owned 10,988 shares in the company, valued at approximately $703,232. This trade represents a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.41% of the company’s stock.

Eversource Energy Price Performance

NYSE ES opened at $64.94 on Friday. The stock has a market capitalization of $23.86 billion, a P/E ratio of 27.99, a P/E/G ratio of 2.41 and a beta of 0.62. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The business’s fifty day moving average is $64.15 and its two-hundred day moving average is $60.90. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.66 and a current ratio of 0.75.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.50. Eversource Energy had a return on equity of 11.04% and a net margin of 6.63%. The company had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same period last year, the business posted $1.49 earnings per share. The firm’s revenue was up 23.6% compared to the same quarter last year. On average, research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, May 15th were issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.64%. The ex-dividend date of this dividend was Thursday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is 129.74%.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. BMO Capital Markets boosted their price target on Eversource Energy from $71.00 to $72.00 and gave the company a “market perform” rating in a research note on Monday, April 28th. JPMorgan Chase & Co. reaffirmed an “underweight” rating and issued a $58.00 price objective (down previously from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Mizuho upped their price objective on Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 25th. Finally, Wall Street Zen raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, May 16th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $65.67.

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.