Eversource Energy (ES) Position Cut by Baker Ellis Asset Management LLC
Baker Ellis Asset Management LLC cut its stake in shares of Eversource Energy (NYSE:ES) by 1.4% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,661 shares of the company’s stock after selling 256 shares during the period. Baker Ellis Asset Management LLC’s holdings in Eversource Energy were worth $1,118,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Checchi Capital Advisers LLC raised its position in Eversource Energy by 1.1% in the second quarter. Checchi Capital Advisers LLC now owns 3,581 shares of the company’s stock valued at $215,000 after buying an additional 38 shares in the last quarter. Barry Investment Advisors LLC raised its position in Eversource Energy by 0.8% in the second quarter. Barry Investment Advisors LLC now owns 6,073 shares of the company’s stock valued at $364,000 after buying an additional 46 shares in the last quarter. Advisor Partners LLC raised its position in Eversource Energy by 2.5% in the first quarter. Advisor Partners LLC now owns 5,932 shares of the company’s stock valued at $346,000 after buying an additional 145 shares in the last quarter. Gofen & Glossberg LLC IL raised its position in Eversource Energy by 5.0% in the second quarter. Gofen & Glossberg LLC IL now owns 4,218 shares of the company’s stock valued at $253,000 after buying an additional 200 shares in the last quarter. Finally, Grimes & Company Inc. raised its position in Eversource Energy by 4.1% in the second quarter. Grimes & Company Inc. now owns 7,254 shares of the company’s stock valued at $435,000 after buying an additional 288 shares in the last quarter. 69.38% of the stock is currently owned by institutional investors and hedge funds.
Eversource Energy (NYSE:ES) traded down 0.10% during midday trading on Wednesday, reaching $52.56. The company’s stock had a trading volume of 2,666,876 shares. Eversource Energy has a 52 week low of $48.18 and a 52 week high of $60.44. The firm has a market capitalization of $16.67 billion, a PE ratio of 19.32 and a beta of 0.29. The stock has a 50 day moving average of $54.72 and a 200 day moving average of $56.53.
Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, July 28th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.01. Eversource Energy had a return on equity of 8.42% and a net margin of 11.62%. The firm earned $1.77 billion during the quarter, compared to analyst estimates of $1.81 billion. During the same period in the previous year, the company earned $0.65 earnings per share. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. On average, equities research analysts predict that Eversource Energy will post $2.97 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Shareholders of record on Monday, September 19th were given a $0.445 dividend. This represents a $1.78 annualized dividend and a yield of 3.39%. The ex-dividend date was Thursday, September 15th. Eversource Energy’s payout ratio is currently 65.44%.
Several equities analysts have recently weighed in on the company. Deutsche Bank AG reaffirmed a “hold” rating and issued a $58.00 price objective (down from $59.00) on shares of Eversource Energy in a research note on Monday, June 27th. Zacks Investment Research lowered Eversource Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, June 15th. Barclays PLC reduced their price objective on Eversource Energy from $65.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Citigroup Inc. boosted their price target on Eversource Energy from $53.00 to $61.00 and gave the stock a “neutral” rating in a research report on Wednesday, July 20th. Finally, Janney Montgomery Scott raised Eversource Energy from a “neutral” rating to a “buy” rating and set a $67.00 price target on the stock in a research report on Monday, August 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. Eversource Energy currently has a consensus rating of “Hold” and a consensus price target of $59.71.
In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $54.77, for a total value of $547,700.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.89% of the stock is owned by company insiders.
About Eversource Energy
Eversource Energy, formerly Northeast Utilities, 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.
Want to see what other hedge funds are holding ES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eversource Energy (NYSE:ES).
Receive News & Ratings for Eversource Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eversource Energy and related companies with MarketBeat.com's FREE daily email newsletter.