Raymond James Trust N.A. Boosts Holdings in Eversource Energy (NYSE:ES)

Posted by Defense World Staff on Apr 24th, 2023

Raymond James Trust N.A. raised its stake in shares of Eversource Energy (NYSE:ES – Get Rating) by 28.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,227 shares of the utilities provider’s stock after purchasing an additional 1,363 shares during the period. Raymond James Trust N.A.’s holdings in Eversource Energy were worth $522,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in ES. Janney Montgomery Scott LLC raised its position in shares of Eversource Energy by 0.7% in the third quarter. Janney Montgomery Scott LLC now owns 69,820 shares of the utilities provider’s stock valued at $5,443,000 after buying an additional 472 shares during the last quarter. Bessemer Group Inc. raised its position in shares of Eversource Energy by 87.9% in the third quarter. Bessemer Group Inc. now owns 5,514 shares of the utilities provider’s stock valued at $430,000 after buying an additional 2,580 shares during the last quarter. Signaturefd LLC raised its position in shares of Eversource Energy by 42.3% in the fourth quarter. Signaturefd LLC now owns 6,231 shares of the utilities provider’s stock valued at $522,000 after buying an additional 1,853 shares during the last quarter. International Assets Investment Management LLC raised its position in shares of Eversource Energy by 9,547.0% in the fourth quarter. International Assets Investment Management LLC now owns 218,022 shares of the utilities provider’s stock valued at $545,000 after buying an additional 215,762 shares during the last quarter. Finally, Eaton Vance Management raised its position in shares of Eversource Energy by 0.6% in the third quarter. Eaton Vance Management now owns 362,123 shares of the utilities provider’s stock valued at $28,232,000 after buying an additional 2,291 shares during the last quarter. 77.37% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently commented on ES shares. Wells Fargo & Company reduced their target price on shares of Eversource Energy from $99.00 to $94.00 and set an “overweight” rating for the company in a research report on Wednesday, February 15th. Citigroup cut their price objective on shares of Eversource Energy from $91.00 to $86.00 and set a “neutral” rating for the company in a research report on Thursday, February 16th. Wolfe Research cut shares of Eversource Energy from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 21st. Evercore ISI upgraded shares of Eversource Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $86.00 to $92.00 in a research report on Tuesday, January 24th. Finally, Morgan Stanley raised their price objective on shares of Eversource Energy from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research report on Thursday. Nine investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $87.58.

Insiders Place Their Bets

In other news, insider Frederica M. Williams sold 1,943 shares of Eversource Energy stock in a transaction on 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 directly owns 20,763 shares of the company’s stock, valued at approximately $1,636,747.29. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.38% of the stock is owned by corporate insiders.

Eversource Energy Trading Up 0.3 %

NYSE ES opened at $78.84 on Monday. The firm has a 50 day simple moving average of $77.35 and a 200-day simple moving average of $79.29. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.57 and a current ratio of 0.62. Eversource Energy has a one year low of $70.54 and a one year high of $94.41. The firm has a market cap of $27.49 billion, a price-to-earnings ratio of 19.51, a PEG ratio of 2.78 and a beta of 0.46.

Eversource Energy (NYSE:ES – Get Rating) last issued its quarterly earnings results 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). Eversource Energy had a return on equity of 9.38% and a net margin of 11.43%. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $2.24 billion. During the same quarter in the prior year, the firm earned $0.91 EPS. The firm’s revenue was up 22.1% compared to the same quarter last year. Equities research analysts anticipate that Eversource Energy will post 4.36 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, March 31st. Shareholders of record on Thursday, March 2nd were issued a dividend of $0.675 per share. The ex-dividend date was Wednesday, March 1st. This represents a $2.70 dividend on an annualized basis and a yield of 3.42%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.64. Eversource Energy’s dividend payout ratio (DPR) is presently 66.83%.

Eversource Energy Company Profile

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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.