Eversource Energy (NYSE:ES) Shares Sold by Gabelli Funds LLC

Gabelli Funds LLC trimmed its position in Eversource Energy (NYSE:ES) by 1.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 829,250 shares of the utilities provider’s stock after selling 9,500 shares during the quarter. Gabelli Funds LLC’s holdings in Eversource Energy were worth $47,624,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Mizuho Bank Ltd. acquired a new stake in shares of Eversource Energy in the fourth quarter valued at about $26,000. Kestra Investment Management LLC purchased a new position in Eversource Energy in the 4th quarter worth approximately $29,000. Assetmark Inc. boosted its holdings in shares of Eversource Energy by 99.2% during the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 254 shares during the last quarter. Venturi Wealth Management LLC grew its position in shares of Eversource Energy by 104.5% in the fourth 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 in the last quarter. Finally, OFI Invest Asset Management purchased a new position in Eversource Energy during the fourth quarter worth approximately $35,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Eversource Energy

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

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Monday. Scotiabank reduced their price target on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research report on Thursday, February 13th. Wells Fargo & Company lowered their price objective on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Barclays reduced their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Finally, Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. 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 company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $65.78.

Eversource Energy Stock Performance

Shares of ES stock opened at $58.49 on Tuesday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. The company’s fifty day moving average price is $60.41 and its two-hundred day moving average price is $60.74. The firm has a market capitalization of $21.47 billion, a P/E ratio of 25.32, a P/E/G ratio of 2.35 and a beta of 0.58. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $69.01.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th were given a $0.7525 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.15%. The ex-dividend date was Tuesday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is presently 130.30%.

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.