Janney Montgomery Scott LLC Purchases 6,042 Shares of Eversource Energy (NYSE:ES)

Posted by Defense World Staff on Apr 21st, 2023

Janney Montgomery Scott LLC raised its position in shares of Eversource Energy (NYSE:ES – Get Rating) by 8.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 75,862 shares of the utilities provider’s stock after acquiring an additional 6,042 shares during the period. Janney Montgomery Scott LLC’s holdings in Eversource Energy were worth $6,360,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Mascoma Wealth Management LLC bought a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $25,000. Piershale Financial Group Inc. bought a new stake in Eversource Energy during the fourth quarter worth $26,000. Ronald Blue Trust Inc. lifted its stake in Eversource Energy by 571.4% during the third quarter. Ronald Blue Trust Inc. now owns 329 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 280 shares during the last quarter. Hexagon Capital Partners LLC lifted its stake in Eversource Energy by 293.5% during the third quarter. Hexagon Capital Partners LLC now owns 366 shares of the utilities provider’s stock worth $29,000 after purchasing an additional 273 shares during the last quarter. Finally, Point72 Hong Kong Ltd bought a new stake in Eversource Energy during the third quarter worth $35,000. Institutional investors own 77.37% of the company’s stock.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $78.61 on Friday. The company has a current ratio of 0.62, a quick ratio of 0.57 and a debt-to-equity ratio of 1.27. The business has a 50-day moving average price of $77.38 and a two-hundred day moving average price of $79.31. Eversource Energy has a 1-year low of $70.54 and a 1-year high of $94.63. The company has a market cap of $27.41 billion, a P/E ratio of 19.46, a PEG ratio of 2.76 and a beta of 0.46.

Eversource Energy (NYSE:ES – Get Rating) last released its quarterly earnings data on Monday, February 13th. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.94 by ($0.02). The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.24 billion. Eversource Energy had a return on equity of 9.38% and a net margin of 11.43%. Eversource Energy’s revenue for the quarter was up 22.1% compared to the same quarter last year. During the same period last year, the company earned $0.91 EPS. As a group, analysts anticipate that Eversource Energy will post 4.36 EPS for the current year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 31st. Investors of record on Thursday, March 2nd were given a $0.675 dividend. This is a boost from Eversource Energy’s previous quarterly dividend of $0.64. The ex-dividend date of this dividend was Wednesday, March 1st. This represents a $2.70 annualized dividend and a yield of 3.43%. Eversource Energy’s dividend payout ratio (DPR) is presently 66.83%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Wells Fargo & Company lowered their price target on shares of Eversource Energy from $99.00 to $94.00 and set an “overweight” rating for the company in a report on Wednesday, February 15th. Argus lowered their price target on shares of Eversource Energy from $95.00 to $85.00 in a report on Thursday, March 30th. Mizuho lowered their price target on shares of Eversource Energy from $87.00 to $79.00 and set a “neutral” rating for the company in a report on Monday, April 3rd. Wolfe Research downgraded shares of Eversource Energy from an “outperform” rating to a “peer perform” rating in a report on Tuesday, February 21st. Finally, Evercore ISI upgraded Eversource Energy from an “in-line” rating to an “outperform” rating and increased their price objective for the company from $86.00 to $92.00 in a report on Tuesday, January 24th. Nine research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $87.58.

Insider Activity at Eversource Energy

In related news, insider Frederica M. Williams sold 1,943 shares of the firm’s stock in a transaction dated Thursday, February 16th. The shares were sold at an average price of $78.83, for a total value of $153,166.69. Following the transaction, the insider now owns 20,763 shares of the company’s stock, valued at approximately $1,636,747.29. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.38% of the stock is owned by insiders.

About Eversource Energy

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Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution. The Electric Distribution segment distributes electricity to retail customers.