IFP Advisors Inc lessened its position in Eversource Energy (NYSE:ES – Free Report) by 87.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,554 shares of the utilities provider’s stock after selling 23,866 shares during the period. IFP Advisors Inc’s holdings in Eversource Energy were worth $198,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Mascoma Wealth Management LLC bought a new position in shares of Eversource Energy in the 4th quarter valued at about $25,000. Delta Asset Management LLC TN acquired a new stake in shares of Eversource Energy during the 4th quarter worth about $25,000. Lakewood Asset Management LLC acquired a new stake in shares of Eversource Energy during the 4th quarter worth about $25,000. Piershale Financial Group Inc. acquired a new stake in shares of Eversource Energy during the 4th quarter worth about $26,000. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of Eversource Energy during the 4th quarter worth about $27,000. Institutional investors own 83.25% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on ES shares. StockNews.com cut shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Friday. Morgan Stanley raised their target price on shares of Eversource Energy from $82.00 to $86.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 20th. BMO Capital Markets cut their target price on shares of Eversource Energy from $87.00 to $74.00 in a research note on Wednesday, June 28th. UBS Group cut their target price on shares of Eversource Energy from $81.00 to $75.00 in a research note on Friday, May 26th. Finally, Scotiabank upgraded shares of Eversource Energy from a “sector perform” rating to a “sector outperform” rating and set a $91.00 price objective for the company in a research note on Thursday, June 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and an average target price of $85.79.
Eversource Energy Price Performance
Eversource Energy (NYSE:ES – Free Report) last released its earnings results on Wednesday, May 3rd. The utilities provider reported $1.41 EPS for the quarter, beating the consensus estimate of $1.34 by $0.07. Eversource Energy had a net margin of 11.52% and a return on equity of 9.51%. The firm had revenue of $3.80 billion for the quarter, compared to analyst estimates of $3.24 billion. During the same period last year, the firm earned $1.30 EPS. The business’s quarterly revenue was up 9.3% compared to the same quarter last year. On average, analysts anticipate that Eversource Energy will post 4.36 earnings per share for the current fiscal year.
Eversource Energy Dividend Announcement
The business also recently declared a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, May 18th were issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a dividend yield of 3.81%. The ex-dividend date was Wednesday, May 17th. Eversource Energy’s dividend payout ratio (DPR) is presently 64.75%.
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.
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