Virtus ETF Advisers LLC Trims Holdings in Eversource Energy (NYSE:ES)

Virtus ETF Advisers LLC lowered its position in shares of Eversource Energy (NYSE:ES) by 6.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,634 shares of the utilities provider’s stock after selling 182 shares during the quarter. Virtus ETF Advisers LLC’s holdings in Eversource Energy were worth $151,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC increased its stake in Eversource Energy by 10.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock worth $107,000 after buying an additional 176 shares in the last quarter. UMB Bank n.a. grew its position in shares of Eversource Energy by 38.4% during the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 197 shares in the last quarter. Summit Trail Advisors LLC raised its stake in Eversource Energy by 4.6% during the 4th quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock valued at $281,000 after purchasing an additional 216 shares during the period. Keybank National Association OH lifted its holdings in Eversource Energy by 2.6% in the 4th quarter. Keybank National Association OH now owns 9,090 shares of the utilities provider’s stock worth $522,000 after purchasing an additional 233 shares in the last quarter. Finally, Whittier Trust Co. boosted its stake in Eversource Energy by 3.3% in the 4th quarter. Whittier Trust Co. now owns 7,732 shares of the utilities provider’s stock worth $444,000 after purchasing an additional 245 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Stock Down 1.1 %

NYSE ES opened at $57.86 on Monday. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01. The firm has a market capitalization of $21.24 billion, a price-to-earnings ratio of 25.05, a PEG ratio of 2.35 and a beta of 0.58. The company has a fifty day moving average of $59.86 and a two-hundred day moving average of $60.26.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. On average, analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th were paid a $0.7525 dividend. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a yield of 5.20%. Eversource Energy’s dividend payout ratio (DPR) is presently 130.30%.

Insider Transactions at Eversource Energy

In other news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the sale, the vice president now owns 24,374 shares of the company’s stock, valued at approximately $1,535,318.26. The trade was a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the transaction, the insider now directly owns 22,671 shares in the company, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on ES. StockNews.com downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Friday. Barclays dropped their price objective on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. JPMorgan Chase & Co. reissued an “underweight” rating and set a $58.00 price target (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Finally, Jefferies Financial Group reduced their price objective on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and an average price target of $65.78.

About Eversource Energy

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.