Janney Montgomery Scott LLC cut its stake in shares of Eversource Energy (NYSE:ES – Free Report) by 0.5% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,479 shares of the utilities provider’s stock after selling 383 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Eversource Energy were worth $5,907,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of ES. Mascoma Wealth Management LLC acquired a new position in Eversource Energy during the 4th quarter worth about $25,000. Delta Asset Management LLC TN acquired a new position in shares of Eversource Energy in the 4th quarter valued at about $25,000. Lakewood Asset Management LLC acquired a new position in shares of Eversource Energy in the 4th quarter valued at about $25,000. New Hampshire Trust acquired a new position in shares of Eversource Energy in the 4th quarter valued at about $27,000. Finally, Resurgent Financial Advisors LLC acquired a new position in shares of Eversource Energy in the 4th quarter valued at about $27,000. 83.25% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
A number of research analysts have recently issued reports on ES shares. BMO Capital Markets dropped their price objective on Eversource Energy from $87.00 to $74.00 in a research note on Wednesday, June 28th. Citigroup dropped their price objective on Eversource Energy from $86.00 to $80.00 in a research note on Sunday, July 16th. Scotiabank raised Eversource Energy from a “sector perform” rating to a “sector outperform” rating and set a $91.00 target price for the company in a research report on Thursday, June 15th. Mizuho decreased their target price on Eversource Energy from $87.00 to $79.00 and set a “neutral” rating for the company in a research report on Monday, April 3rd. Finally, StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a research report on Tuesday, July 18th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, Eversource Energy has a consensus rating of “Hold” and a consensus price target of $84.69.
Eversource Energy Stock Performance
Eversource Energy (NYSE:ES – Get Free Report) last announced its earnings results on Wednesday, May 3rd. The utilities provider reported $1.41 earnings per share for the quarter, topping analysts’ consensus estimates of $1.34 by $0.07. Eversource Energy had a return on equity of 9.51% and a net margin of 11.52%. The firm had revenue of $3.80 billion for the quarter, compared to the consensus estimate of $3.24 billion. During the same quarter in the previous year, the business earned $1.30 EPS. The company’s revenue was up 9.3% compared to the same quarter last year. Equities analysts forecast that Eversource Energy will post 4.36 earnings per share for the current fiscal year.
Eversource Energy Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Thursday, May 18th were paid a $0.675 dividend. The ex-dividend date of this dividend was Wednesday, May 17th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.63%. Eversource Energy’s payout ratio 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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