New York State Common Retirement Fund Sells 101,700 Shares of Eversource Energy (NYSE:ES)

New York State Common Retirement Fund reduced its stake in shares of Eversource Energy (NYSE:ES) by 13.7% in the third quarter, according to its most recent filing with the SEC. The fund owned 638,460 shares of the utilities provider’s stock after selling 101,700 shares during the period. New York State Common Retirement Fund owned approximately 0.18% of Eversource Energy worth $43,447,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the stock. Lynx Investment Advisory bought a new stake in Eversource Energy in the second quarter worth $25,000. UMB Bank n.a. lifted its stake in Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 198 shares during the last quarter. Manchester Capital Management LLC lifted its stake in Eversource Energy by 83.6% in the first quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock worth $36,000 after purchasing an additional 276 shares during the last quarter. Salomon & Ludwin LLC lifted its stake in Eversource Energy by 4,187.5% in the first quarter. Salomon & Ludwin LLC now owns 686 shares of the utilities provider’s stock worth $41,000 after purchasing an additional 670 shares during the last quarter. Finally, Pathway Financial Advisers LLC bought a new stake in Eversource Energy in the first quarter worth $43,000. 79.99% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the sale, the executive vice president now owns 9,847 shares in the company, valued at approximately $639,464.18. This represents a 0.00 % 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. In other news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the sale, the executive vice president now owns 9,847 shares in the company, valued at $639,464.18. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Price Performance

Shares of NYSE ES opened at $63.67 on Friday. Eversource Energy has a 1 year low of $52.09 and a 1 year high of $69.01. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The company’s 50-day moving average is $66.42 and its 200 day moving average is $62.76. The stock has a market capitalization of $22.76 billion, a P/E ratio of -235.81, a P/E/G ratio of 2.57 and a beta of 0.61.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. The company had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. Eversource Energy’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.00 earnings per share. On average, sell-side analysts expect that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.49%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is presently -1,059.26%.

Wall Street Analyst Weigh In

ES has been the subject of several recent research reports. Barclays boosted their price target on shares of Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Mizuho upped their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company upped their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Morgan Stanley upped their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Finally, StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $70.07.

Eversource Energy 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.