Amalgamated Bank Reduces Position in Eversource Energy (NYSE:ES)

Amalgamated Bank reduced its position in Eversource Energy (NYSE:ES) by 1.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 69,027 shares of the utilities provider’s stock after selling 873 shares during the quarter. Amalgamated Bank’s holdings in Eversource Energy were worth $3,964,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of Eversource Energy during the third quarter valued at approximately $31,000. Ashton Thomas Securities LLC purchased a new position in Eversource Energy during the 3rd quarter valued at $32,000. Kestra Investment Management LLC bought a new position in Eversource Energy in the 4th quarter valued at $29,000. Larson Financial Group LLC increased its stake in Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 350 shares during the period. Finally, Venturi Wealth Management LLC lifted its position in shares of Eversource Energy by 104.5% during the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 301 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ES. Scotiabank cut 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 report on Thursday, February 13th. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Jefferies Financial Group decreased their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Wells Fargo & Company dropped their price objective on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Finally, StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $67.45.

Insider Activity at Eversource Energy

In other news, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the sale, the insider now 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Jay S. Buth sold 980 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following the transaction, 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 position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Eversource Energy Trading Up 1.0 %

Shares of NYSE:ES opened at $63.01 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 company has a market capitalization of $23.11 billion, a PE ratio of 27.28, a P/E/G ratio of 2.35 and a beta of 0.62. Eversource Energy has a 12-month low of $54.75 and a 12-month high of $69.01. The business’s fifty day simple moving average is $58.80 and its 200-day simple moving average is $62.47.

Eversource Energy (NYSE:ES) last posted its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) 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%. As a group, 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. Investors of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a yield of 4.78%. Eversource Energy’s dividend payout ratio is presently 130.30%.

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.