Traders Sell Eversource Energy (ES) on Strength (ES)

Traders sold shares of Eversource Energy (NYSE:ES) on strength during trading hours on Friday. $28.62 million flowed into the stock on the tick-up and $298.89 million flowed out of the stock on the tick-down, for a money net flow of $270.27 million out of the stock. Of all stocks tracked, Eversource Energy had the 0th highest net out-flow for the day. Eversource Energy traded up $0.81 for the day and closed at $71.73

ES has been the topic of several recent research reports. Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $76.00 target price on the stock in a report on Wednesday, November 28th. Guggenheim reaffirmed a “buy” rating and set a $72.00 target price on shares of Eversource Energy in a report on Monday, January 7th. Goldman Sachs Group raised Eversource Energy from a “neutral” rating to a “buy” rating in a report on Wednesday, January 30th. Morgan Stanley lifted their target price on Eversource Energy from $69.00 to $71.00 and gave the stock an “equal weight” rating in a report on Tuesday, February 12th. Finally, Barclays set a $66.00 target price on Eversource Energy and gave the stock a “hold” rating in a report on Saturday, November 17th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. Eversource Energy currently has a consensus rating of “Hold” and a consensus target price of $69.18.

The firm has a market capitalization of $22.75 billion, a P/E ratio of 21.87, a PEG ratio of 3.59 and a beta of 0.31. The company has a quick ratio of 0.50, a current ratio of 0.56 and a debt-to-equity ratio of 1.07.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, February 20th. The utilities provider reported $0.73 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.75 by ($0.02). The company had revenue of $2.03 billion for the quarter, compared to analyst estimates of $1.71 billion. Eversource Energy had a return on equity of 9.18% and a net margin of 12.23%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.75 earnings per share. As a group, equities research analysts predict that Eversource Energy will post 3.45 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th will be paid a $0.535 dividend. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.98%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.51. The ex-dividend date is Monday, March 4th. Eversource Energy’s payout ratio is currently 65.24%.

In other news, CEO James J. Judge sold 79,508 shares of the business’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $69.50, for a total value of $5,525,806.00. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Sanford Cloud, Jr. sold 1,042 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $68.87, for a total value of $71,762.54. The disclosure for this sale can be found here. Insiders sold a total of 111,201 shares of company stock worth $7,727,360 over the last three months. 0.45% of the stock is owned by company insiders.

Several large investors have recently made changes to their positions in ES. Bank of New York Mellon Corp lifted its stake in shares of Eversource Energy by 100,075.7% in the 3rd quarter. Bank of New York Mellon Corp now owns 15,640,429 shares of the utilities provider’s stock valued at $960,950,000 after purchasing an additional 15,624,816 shares during the period. Norges Bank acquired a new position in Eversource Energy during the 4th quarter worth approximately $166,695,000. Commonwealth Bank of Australia raised its stake in Eversource Energy by 6,196.5% during the 4th quarter. Commonwealth Bank of Australia now owns 2,325,159 shares of the utilities provider’s stock worth $151,213,000 after buying an additional 2,288,231 shares during the period. Oregon Public Employees Retirement Fund raised its stake in Eversource Energy by 6,323.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,217,214 shares of the utilities provider’s stock worth $34,000 after buying an additional 2,182,698 shares during the period. Finally, American Century Companies Inc. raised its stake in Eversource Energy by 35.7% during the 4th quarter. American Century Companies Inc. now owns 4,563,601 shares of the utilities provider’s stock worth $296,817,000 after buying an additional 1,200,309 shares during the period. 73.38% of the stock is currently owned by institutional investors.

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About Eversource Energy (NYSE:ES)

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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