ClearBridge Investments Ltd Sells 283,693 Shares of Eversource Energy (NYSE:ES)

ClearBridge Investments Ltd reduced its holdings in Eversource Energy (NYSE:ES) by 16.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,469,123 shares of the utilities provider’s stock after selling 283,693 shares during the period. Eversource Energy makes up about 2.2% of ClearBridge Investments Ltd’s investment portfolio, making the stock its 17th biggest position. ClearBridge Investments Ltd’s holdings in Eversource Energy were worth $84,372,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Kestra Investment Management LLC bought a new stake in shares of Eversource Energy in the fourth quarter worth about $29,000. Assetmark Inc. raised its holdings in Eversource Energy by 99.2% during the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after buying an additional 254 shares during the period. Brooklyn Investment Group bought a new position in Eversource Energy in the third quarter valued at approximately $31,000. Venturi Wealth Management LLC boosted its holdings in shares of Eversource Energy by 104.5% in the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock valued at $34,000 after buying an additional 301 shares during the period. Finally, OFI Invest Asset Management bought a new stake in shares of Eversource Energy during the fourth quarter worth $35,000. 79.99% of the stock is owned by institutional investors.

Eversource Energy Stock Performance

ES opened at $61.13 on Friday. Eversource Energy has a 1 year low of $54.75 and a 1 year high of $69.01. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. The company has a market capitalization of $22.44 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. The business has a fifty day simple moving average of $60.28 and a 200 day simple moving average of $61.58.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. Research analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently declared 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. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a yield of 4.92%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio is currently 130.30%.

Insiders Place Their Bets

In related news, 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Frederica M. Williams sold 3,092 shares of the company’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 directly owns 22,671 shares of the company’s stock, valued at $1,411,496.46. This represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. 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. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. 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 research note on Thursday, February 13th. Jefferies Financial Group dropped their price objective on 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, StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price 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.