Raymond James & Associates Cuts Stock Holdings in Eversource Energy (NYSE:ES)

Raymond James & Associates reduced its position in shares of Eversource Energy (NYSE:ESFree Report) by 5.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 248,504 shares of the utilities provider’s stock after selling 15,500 shares during the period. Raymond James & Associates owned 0.07% of Eversource Energy worth $15,338,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ES. American National Bank purchased a new stake in Eversource Energy during the 3rd quarter worth approximately $25,000. Quarry LP grew its position in shares of Eversource Energy by 275.0% in the first quarter. Quarry LP now owns 315 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 231 shares in the last quarter. Exchange Traded Concepts LLC purchased a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $26,000. Resurgent Financial Advisors LLC purchased a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $27,000. Finally, UMB Bank n.a. grew its position in shares of Eversource Energy by 130.9% in the third quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock valued at $37,000 after purchasing an additional 364 shares in the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ES. BMO Capital Markets upped their price target on Eversource Energy from $63.00 to $64.00 and gave the company a “market perform” rating in a research report on Thursday, February 15th. Barclays lowered their price objective on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, January 22nd. UBS Group reiterated a “neutral” rating and issued a $62.00 price objective on shares of Eversource Energy in a research report on Tuesday, March 26th. Guggenheim upgraded Eversource Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $60.00 to $72.00 in a research report on Monday, January 22nd. Finally, Mizuho upgraded Eversource Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $54.00 to $62.00 in a research report on Thursday, February 15th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $65.08.

Read Our Latest Stock Analysis on ES

Insider Buying and Selling

In other news, insider Linda Dorcena Forry sold 822 shares of the company’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the transaction, the insider now directly owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now owns 10,485 shares of the company’s stock, valued at $609,388.20. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Faasen William C. Van sold 2,714 shares of the firm’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $54.50, for a total value of $147,913.00. Following the transaction, the insider now directly owns 19,619 shares in the company, valued at approximately $1,069,235.50. The disclosure for this sale can be found here. Insiders sold 6,250 shares of company stock valued at $352,014 in the last three months. 0.29% of the stock is owned by corporate insiders.

Eversource Energy Stock Up 0.7 %

Shares of NYSE ES opened at $59.28 on Wednesday. The stock has a market cap of $20.79 billion, a P/E ratio of -47.04, a PEG ratio of 3.15 and a beta of 0.58. The business’s fifty day simple moving average is $57.34 and its 200-day simple moving average is $57.99. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $81.36. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66.

Eversource Energy (NYSE:ESGet Free Report) last released its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.02). Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. As a group, equities analysts predict that Eversource Energy will post 4.55 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 5th were paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 4.82%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date was Monday, March 4th. Eversource Energy’s payout ratio is presently -226.98%.

Eversource Energy Profile

(Free Report)

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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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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