AMF Tjanstepension AB Sells 101,969 Shares of Eversource Energy $ES

AMF Tjanstepension AB decreased its position in shares of Eversource Energy (NYSE:ES) by 41.6% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 143,021 shares of the utilities provider’s stock after selling 101,969 shares during the period. AMF Tjanstepension AB’s holdings in Eversource Energy were worth $10,175,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Neo Ivy Capital Management purchased a new position in shares of Eversource Energy during the 2nd quarter valued at about $26,000. Root Financial Partners LLC bought a new position in Eversource Energy during the third quarter valued at approximately $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of Eversource Energy during the third quarter worth approximately $27,000. Trust Co. of Toledo NA OH bought a new stake in shares of Eversource Energy in the 2nd quarter worth approximately $28,000. Finally, Elevation Point Wealth Partners LLC bought a new stake in shares of Eversource Energy in the 2nd quarter worth approximately $31,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the transaction, the executive vice president owned 32,415 shares of the company’s stock, valued at approximately $2,358,839.55. This represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on ES shares. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. UBS Group reduced their price objective on Eversource Energy from $78.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Janney Montgomery Scott raised Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 target price for the company in a research note on Monday, November 24th. Bank of America upgraded Eversource Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $73.00 to $85.00 in a report on Tuesday, October 21st. Finally, Scotiabank reduced their price target on Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a research report on Thursday, November 20th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and an average price target of $71.50.

Eversource Energy Stock Down 1.3%

Shares of NYSE:ES opened at $69.54 on Friday. The stock has a 50 day moving average price of $67.79 and a 200-day moving average price of $68.08. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71. The firm has a market capitalization of $26.09 billion, a P/E ratio of 19.05, a P/E/G ratio of 2.36 and a beta of 0.76. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $75.25.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.07. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The company had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the prior year, the business posted $1.13 EPS. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were issued a $0.7525 dividend. The ex-dividend date of this dividend was Wednesday, December 17th. This represents a $3.01 annualized dividend and a dividend yield of 4.3%. Eversource Energy’s payout ratio is presently 82.47%.

About Eversource Energy

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.