Eversource Energy (NYSE:ES) Stock Position Reduced by Stratos Wealth Partners LTD.

Stratos Wealth Partners LTD. cut its stake in shares of Eversource Energy (NYSE:ES) by 21.0% during the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 5,830 shares of the utilities provider’s stock after selling 1,547 shares during the period. Stratos Wealth Partners LTD.’s holdings in Eversource Energy were worth $362,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its holdings in Eversource Energy by 105.6% in the 1st quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider’s stock valued at $287,000 after buying an additional 2,374 shares during the period. LSV Asset Management acquired a new position in Eversource Energy during the 4th quarter valued at about $2,223,000. Golden State Wealth Management LLC lifted its position in Eversource Energy by 233.9% during the 1st quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 580 shares during the period. JPMorgan Chase & Co. raised its position in shares of Eversource Energy by 10.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,569,671 shares of the utilities provider’s stock valued at $90,146,000 after acquiring an additional 151,562 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Eversource Energy by 9.4% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 548,858 shares of the utilities provider’s stock valued at $31,455,000 after acquiring an additional 47,189 shares during the period. 79.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently commented on ES shares. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $58.00 price target (down previously from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Wall Street Zen upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 16th. Mizuho raised their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, June 25th. Finally, BMO Capital Markets raised their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the company a “market perform” rating in a research note on Monday, April 28th. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $65.67.

Eversource Energy Trading Down 1.0%

Shares of ES stock opened at $64.72 on Wednesday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.75 and a quick ratio of 0.66. The firm has a market cap of $23.78 billion, a PE ratio of 27.90, a price-to-earnings-growth ratio of 2.43 and a beta of 0.62. The company has a 50-day moving average of $64.05 and a two-hundred day moving average of $60.82. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $69.01.

Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, hitting the consensus estimate of $1.50. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the firm earned $1.49 EPS. The business’s revenue was up 23.6% on a year-over-year basis. On average, analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, May 15th were given a dividend of $0.7525 per share. The ex-dividend date was Thursday, May 15th. This represents a $3.01 dividend on an annualized basis and a yield of 4.65%. Eversource Energy’s payout ratio is presently 129.74%.

Insider Buying and Selling at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,600 shares of the business’s stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the sale, the executive vice president owned 10,988 shares of the company’s stock, valued at $703,232. The trade was a 19.13% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by company insiders.

Eversource Energy Profile

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.