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Frederica M. Williams, serving as a trustee at Eversource Energy (NYSE:ES), has recently sold a portion of her holdings in the company. According to a recent SEC filing, Williams sold 3,092 common shares at a price of $62.26 each, totaling approximately $192,507. Following this transaction, Williams retains ownership of 22,671 shares, which includes restricted share units and associated dividend equivalents. The sale comes as Eversource, a $23.28 billion utility company, trades near $63.38 per share, offering a notable 4.8% dividend yield. InvestingPro analysis indicates the stock is currently trading above its Fair Value.
In addition to her common shares, Williams holds 1,549 phantom shares as part of her deferred compensation under the Eversource Deferred Compensation Plan. These phantom shares are nominally invested as common shares and will be converted to common shares upon a distribution event. The company has maintained its dividend payments for 27 consecutive years, demonstrating strong shareholder commitment despite operating with significant debt levels. For deeper insights into Eversource’s financial health and insider trading patterns, InvestingPro subscribers can access the comprehensive Pro Research Report, featuring detailed analysis of 1,400+ top US stocks.
In other recent news, Eversource Energy has reported its fourth-quarter earnings for 2024, showing earnings per share (EPS) of $1.01, which exceeded the consensus estimate of $0.99. Despite this positive earnings result, Scotiabank (TSX:BNS) downgraded Eversource Energy’s stock from ’Sector Perform’ to ’Sector Underperform’ and reduced its price target to $55 from $56. The downgrade reflects concerns over regulatory challenges in Connecticut and a weaker-than-expected earnings growth outlook. In contrast, Mizuho (NYSE:MFG) Securities increased its price target for Eversource Energy to $68, maintaining an Outperform rating, citing confidence in the company’s regulatory stability and market alignment.
Additionally, Eversource Energy was added to the S&P 500 Dividend Aristocrats index, which recognizes companies with a long history of dividend increases. The company’s dividend yield stands at 4.96%, higher than the index’s average. Eversource has also made a strategic acquisition of a 26-acre site in Everett, Massachusetts, from Constellation Energy (NASDAQ:CEG), aiming to develop it as a clean energy hub. This acquisition is part of Eversource’s commitment to enhancing grid reliability and supporting the region’s clean energy transition. The company plans to work with stakeholders to align the site’s development with Massachusetts’ decarbonization goals.
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