Amalgamated Bank Trims Stock Holdings in Eversource Energy (NYSE:ES)

Amalgamated Bank lessened its position in shares of Eversource Energy (NYSE:ES) by 1.2% during the 4th quarter, Holdings Channel reports. 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 filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of Eversource Energy by 33.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock worth $2,306,000 after purchasing an additional 9,981 shares during the last quarter. Verity & Verity LLC purchased a new position in shares of Eversource Energy during the 4th quarter valued at about $744,000. Nordea Investment Management AB raised its stake in shares of Eversource Energy by 41.7% during the 4th quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock valued at $99,554,000 after buying an additional 510,582 shares during the last quarter. Landscape Capital Management L.L.C. lifted its holdings in shares of Eversource Energy by 46.9% in the 3rd quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock valued at $2,151,000 after buying an additional 10,093 shares during the period. Finally, Everett Harris & Co. CA boosted its stake in shares of Eversource Energy by 125.2% in the fourth quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock worth $465,000 after buying an additional 4,500 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Up 1.0 %

Shares of Eversource Energy stock opened at $63.01 on Friday. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01. The firm’s 50-day moving average price is $58.80 and its 200 day moving average price is $62.47. 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 firm 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 (NYSE:ES) last released 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, sell-side analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.7525 per share. This is a positive change 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 dividend yield of 4.78%. Eversource Energy’s dividend payout ratio is presently 130.30%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ES. Wells Fargo & Company decreased their price target on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. StockNews.com downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday. Scotiabank dropped 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. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Finally, Barclays dropped 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. Three equities research analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $67.45.

Insider Transactions at Eversource Energy

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

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.