Eversource Energy (NYSE:ES) Stake Lessened by Sei Investments Co.

Sei Investments Co. cut its stake in Eversource Energy (NYSE:ES) by 30.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 330,442 shares of the utilities provider’s stock after selling 144,994 shares during the period. Sei Investments Co.’s holdings in Eversource Energy were worth $18,977,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Brooklyn Investment Group acquired a new stake in shares of Eversource Energy in the 3rd quarter valued at about $31,000. Kestra Investment Management LLC bought a new stake in Eversource Energy in the fourth quarter valued at about $29,000. Assetmark Inc. raised its stake in Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after buying an additional 254 shares in the last quarter. Larson Financial Group LLC lifted 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 worth $38,000 after buying an additional 350 shares during the last quarter. Finally, Venturi Wealth Management LLC grew its position in shares of Eversource Energy by 104.5% in the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock worth $34,000 after acquiring an additional 301 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Stock Performance

ES opened at $60.31 on Friday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. The business’s 50 day moving average is $60.21 and its 200-day moving average is $61.67. The stock has a market cap of $22.14 billion, a PE ratio of 26.11, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01.

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

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be issued a $0.7525 dividend. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 annualized dividend and a yield of 4.99%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio is presently 130.30%.

Insider Activity at Eversource Energy

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

Wall Street Analysts Forecast Growth

ES has been the topic of several research reports. Barclays dropped their price target 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. Scotiabank dropped their target price on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a report on Thursday, February 13th. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Friday, March 21st. Jefferies Financial Group dropped their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Finally, Guggenheim restated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Three investment analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $67.40.

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.