Axxcess Wealth Management LLC Decreases Stake in Eversource Energy (NYSE:ES)

Axxcess Wealth Management LLC lowered its position in Eversource Energy (NYSE:ES) by 16.0% in the 1st quarter, HoldingsChannel reports. The fund owned 3,746 shares of the utilities provider’s stock after selling 716 shares during the period. Axxcess Wealth Management LLC’s holdings in Eversource Energy were worth $224,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Salem Investment Counselors Inc. grew its holdings in Eversource Energy by 49.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after buying an additional 181 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in Eversource Energy by 2.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock valued at $475,000 after buying an additional 192 shares in the last quarter. Presima Securities ULC grew its holdings in Eversource Energy by 1.5% during the 4th quarter. Presima Securities ULC now owns 13,730 shares of the utilities provider’s stock valued at $847,000 after buying an additional 200 shares in the last quarter. Versant Capital Management Inc grew its holdings in Eversource Energy by 62.6% during the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after buying an additional 201 shares in the last quarter. Finally, Grace & White Inc. NY grew its holdings in Eversource Energy by 5.2% during the 1st quarter. Grace & White Inc. NY now owns 4,418 shares of the utilities provider’s stock valued at $264,000 after buying an additional 218 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of ES stock opened at $64.50 on Friday. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $73.87. The stock has a 50 day moving average price of $58.93 and a two-hundred day moving average price of $58.42.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the company posted $1.41 earnings per share. The business’s revenue was down 12.2% on a year-over-year basis. As a group, research analysts forecast that Eversource Energy will post 4.57 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 16th were paid a dividend of $0.715 per share. The ex-dividend date was Wednesday, May 15th. This represents a $2.86 annualized dividend and a dividend yield of 4.43%. Eversource Energy’s dividend payout ratio (DPR) is presently -242.37%.

Insider Activity

In other news, EVP Penelope M. Conner sold 2,700 shares of the business’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $58.75, for a total transaction of $158,625.00. Following the transaction, the executive vice president now directly owns 10,272 shares of the company’s stock, valued at $603,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total value of $562,000.00. Following the sale, the vice president now directly owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Penelope M. Conner sold 2,700 shares of the company’s stock in a transaction on Friday, May 31st. The stock was sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the sale, the executive vice president now directly owns 10,272 shares in the company, valued at $603,480. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. Morgan Stanley reduced their target price on Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. BMO Capital Markets lifted their price target on Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, May 3rd. Scotiabank dropped their price target on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. Wells Fargo & Company lifted their price target on Eversource Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group initiated coverage on Eversource Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $66.43.

Eversource Energy Company 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.