SG Americas Securities LLC Reduces Stock Position in Eversource Energy $ES

SG Americas Securities LLC trimmed its holdings in Eversource Energy (NYSE:ES) by 87.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,665 shares of the utilities provider’s stock after selling 11,658 shares during the period. SG Americas Securities LLC’s holdings in Eversource Energy were worth $118,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. Neo Ivy Capital Management purchased a new position in Eversource Energy during the 2nd quarter valued at about $26,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Eversource Energy in the second quarter worth about $28,000. Elevation Point Wealth Partners LLC bought a new position in shares of Eversource Energy in the second quarter valued at approximately $31,000. Hilltop National Bank purchased a new position in Eversource Energy during the second quarter valued at approximately $32,000. Finally, Anchor Investment Management LLC increased its holdings in Eversource Energy by 122.0% during the 2nd quarter. Anchor Investment Management LLC now owns 546 shares of the utilities provider’s stock worth $35,000 after acquiring an additional 300 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Activity at Eversource Energy

In related news, EVP James W. Hunt III sold 4,129 shares of Eversource Energy stock in a transaction on Friday, November 7th. The shares were 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 in the company, valued at $2,358,839.55. This trade represents a 11.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on ES shares. Jefferies Financial Group reissued an “underperform” rating on shares of Eversource Energy in a report on Monday, November 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a research note on Wednesday. Scotiabank decreased their target price on Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a research note on Thursday, November 20th. JPMorgan Chase & Co. lowered their price target on Eversource Energy from $72.00 to $71.00 and set an “underweight” rating on the stock in a report on Friday, December 12th. Finally, TD Cowen initiated coverage on Eversource Energy in a report on Thursday, October 16th. They set a “hold” rating and a $76.00 price objective for the company. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $71.50.

Eversource Energy Price Performance

ES opened at $69.15 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $25.94 billion, a P/E ratio of 18.95, a PEG ratio of 2.34 and a beta of 0.76. The stock has a 50-day moving average price of $67.93 and a 200-day moving average price of $68.21. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $75.25.

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

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 5th will be paid a $0.7875 dividend. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.6%. Eversource Energy’s dividend payout ratio is currently 82.47%.

Eversource Energy Company Profile

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.