Raleigh Capital Management Inc. grew its holdings in shares of Eversource Energy (NYSE:ES – Free Report) by 10.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,071 shares of the utilities provider’s stock after purchasing an additional 202 shares during the period. Raleigh Capital Management Inc.’s holdings in Eversource Energy were worth $162,000 at the end of the most recent reporting period.
A number of other large investors also recently modified their holdings of ES. Sowa Financial Group Inc. grew its position in Eversource Energy by 0.9% in the first quarter. Sowa Financial Group Inc. now owns 14,800 shares of the utilities provider’s stock worth $1,158,000 after acquiring an additional 128 shares in the last quarter. United Capital Financial Advisers LLC boosted its stake in shares of Eversource Energy by 3.6% during the 1st quarter. United Capital Financial Advisers LLC now owns 3,880 shares of the utilities provider’s stock worth $342,000 after acquiring an additional 134 shares in the last quarter. Park Avenue Securities LLC boosted its stake in shares of Eversource Energy by 0.7% during the 1st quarter. Park Avenue Securities LLC now owns 19,908 shares of the utilities provider’s stock worth $1,558,000 after acquiring an additional 140 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in shares of Eversource Energy by 0.8% during the 4th quarter. Thrivent Financial for Lutherans now owns 19,116 shares of the utilities provider’s stock worth $1,603,000 after acquiring an additional 147 shares in the last quarter. Finally, Edmond DE Rothschild Holding S.A. boosted its stake in shares of Eversource Energy by 12.2% during the 1st quarter. Edmond DE Rothschild Holding S.A. now owns 1,359 shares of the utilities provider’s stock worth $106,000 after acquiring an additional 148 shares in the last quarter. 80.83% of the stock is owned by institutional investors and hedge funds.
Analysts Set New Price Targets
Several analysts have recently issued reports on the company. UBS Group decreased their price target on Eversource Energy from $81.00 to $75.00 in a research note on Friday, May 26th. TheStreet downgraded shares of Eversource Energy from a “b-” rating to a “c” rating in a report on Thursday, August 31st. Morgan Stanley decreased their price objective on shares of Eversource Energy from $81.00 to $75.00 and set an “equal weight” rating for the company in a report on Wednesday, August 23rd. Guggenheim decreased their target price on Eversource Energy from $91.00 to $86.00 in a research note on Friday, July 7th. Finally, StockNews.com started coverage on Eversource Energy in a research note on Thursday, August 17th. They set a “sell” rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and an average target price of $81.33.
Eversource Energy Price Performance
NYSE:ES opened at $64.44 on Friday. The company has a 50-day moving average of $67.41 and a 200-day moving average of $72.09. The company has a market capitalization of $22.50 billion, a price-to-earnings ratio of 19.12, a PEG ratio of 2.47 and a beta of 0.48. Eversource Energy has a 52 week low of $60.37 and a 52 week high of $89.93. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.57 and a current ratio of 0.64.
Eversource Energy (NYSE:ES – Get Free Report) last released its quarterly earnings data on Monday, July 31st. The utilities provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.91 by $0.09. The company had revenue of $2.63 billion during the quarter, compared to the consensus estimate of $2.94 billion. Eversource Energy had a net margin of 9.28% and a return on equity of 9.78%. The firm’s revenue for the quarter was up 2.2% compared to the same quarter last year. During the same period last year, the firm earned $0.86 EPS. As a group, equities research analysts anticipate that Eversource Energy will post 4.36 earnings per share for the current fiscal year.
Eversource Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 25th will be paid a $0.675 dividend. This represents a $2.70 annualized dividend and a dividend yield of 4.19%. Eversource Energy’s dividend payout ratio is presently 80.12%.
Insider Transactions at Eversource Energy
In related news, VP Gregory B. Butler sold 15,000 shares of Eversource Energy stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $64.25, for a total transaction of $963,750.00. Following the completion of the transaction, the vice president now directly owns 63,554 shares of the company’s stock, valued at approximately $4,083,344.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is owned by insiders.
About Eversource Energy
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.
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