Patriot Financial Group Insurance Agency LLC maintained its stake in Eversource Energy (NYSE:ES) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 2,088 shares of the utilities provider’s stock at the end of the first quarter. Patriot Financial Group Insurance Agency LLC’s holdings in Eversource Energy were worth $124,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the stock. Tortoise Investment Management LLC increased its position in shares of Eversource Energy by 2.0% in the fourth quarter. Tortoise Investment Management LLC now owns 2,396 shares of the utilities provider’s stock worth $132,000 after buying an additional 48 shares in the last quarter. Barry Investment Advisors LLC boosted its stake in shares of Eversource Energy by 0.8% in the first quarter. Barry Investment Advisors LLC now owns 6,220 shares of the utilities provider’s stock worth $366,000 after buying an additional 49 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its stake in shares of Eversource Energy by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 18,184 shares of the utilities provider’s stock worth $1,004,000 after buying an additional 67 shares during the last quarter. Tower Bridge Advisors boosted its stake in shares of Eversource Energy by 1.9% in the first quarter. Tower Bridge Advisors now owns 4,081 shares of the utilities provider’s stock worth $240,000 after buying an additional 75 shares during the last quarter. Finally, Pinnacle Financial Partners Inc. boosted its stake in shares of Eversource Energy by 2.0% in the first quarter. Pinnacle Financial Partners Inc. now owns 5,031 shares of the utilities provider’s stock worth $296,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 71.53% of the company’s stock.
Eversource Energy (ES) traded down 0.71% during midday trading on Monday, reaching $62.79. The company had a trading volume of 966,263 shares. The company has a market cap of $19.90 billion, a PE ratio of 20.86 and a beta of 0.32. Eversource Energy has a 52-week low of $50.56 and a 52-week high of $63.34. The company’s 50-day moving average is $60.94 and its 200 day moving average is $57.75.
Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Thursday, May 4th. The utilities provider reported $0.82 EPS for the quarter, missing analysts’ consensus estimates of $0.83 by $0.01. Eversource Energy had a return on equity of 8.98% and a net margin of 12.45%. The business had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same period last year, the firm posted $0.77 EPS. Eversource Energy’s quarterly revenue was up 2.4% on a year-over-year basis. On average, equities research analysts forecast that Eversource Energy will post $3.15 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st will be issued a dividend of $0.475 per share. The ex-dividend date is Friday, May 26th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.03%. Eversource Energy’s dividend payout ratio (DPR) is currently 63.12%.
Several equities research analysts have issued reports on ES shares. Deutsche Bank AG raised their price target on shares of Eversource Energy from $59.00 to $61.00 and gave the stock a “buy” rating in a research note on Tuesday, April 11th. Zacks Investment Research raised shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Tuesday, June 13th. Barclays PLC reissued an “equal weight” rating and issued a $66.00 target price (up from $62.00) on shares of Eversource Energy in a research report on Thursday, June 1st. Morgan Stanley boosted their price target on shares of Eversource Energy from $63.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, June 6th. Finally, Credit Suisse Group reiterated a “hold” rating and issued a $59.00 price target on shares of Eversource Energy in a research report on Tuesday, June 6th. Five analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $62.78.
In related news, VP Werner J. Schweiger sold 36,736 shares of the business’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $62.00, for a total transaction of $2,277,632.00. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders have sold a total of 124,640 shares of company stock valued at $7,600,901 in the last three months. 0.53% of the stock is owned by insiders.
About Eversource Energy
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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