Los Angeles Capital Management LLC Sells 286,897 Shares of Eversource Energy (NYSE:ES)

Los Angeles Capital Management LLC cut its position in shares of Eversource Energy (NYSE:ES) by 43.4% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 373,589 shares of the utilities provider’s stock after selling 286,897 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.10% of Eversource Energy worth $21,455,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of ES. Kestra Investment Management LLC bought a new position in shares of Eversource Energy during the 4th quarter valued at about $29,000. Brooklyn Investment Group bought a new position in shares of Eversource Energy during the 3rd quarter valued at about $31,000. Ashton Thomas Securities LLC bought a new position in shares of Eversource Energy during the 3rd quarter valued at about $32,000. Venturi Wealth Management LLC increased its position in shares of Eversource Energy by 104.5% during the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 301 shares during the last quarter. Finally, Larson Financial Group LLC boosted its holdings in Eversource Energy by 162.0% during the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 350 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on ES shares. Jefferies Financial Group dropped their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Scotiabank dropped their target price on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Barclays dropped their target price on 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 restated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Finally, Wells Fargo & Company dropped their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and an average price target of $67.45.

Insider Activity

In related news, insider Frederica M. Williams sold 3,092 shares of the firm’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the transaction, the insider now owns 22,671 shares of the company’s stock, valued at $1,411,496.46. This trade represents a 12.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the sale, the vice president now directly 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 position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Eversource Energy Trading Up 1.2 %

ES opened at $63.79 on Wednesday. The stock has a market cap of $23.40 billion, a PE ratio of 27.62, a PEG ratio of 2.35 and a beta of 0.62. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The business has a 50 day moving average of $58.40 and a 200-day moving average of $62.48. Eversource Energy has a 52 week low of $54.75 and a 52 week high of $69.01.

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

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.72%. The ex-dividend date is Tuesday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio (DPR) is presently 130.30%.

Eversource Energy Company 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.