Glenview Trust Co Has $584,000 Position in Eversource Energy (ES)
Glenview Trust Co held its position in Eversource Energy (NYSE:ES) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 9,627 shares of the utilities provider’s stock at the close of the 2nd quarter. Glenview Trust Co’s holdings in Eversource Energy were worth $584,000 as of its most recent SEC filing.
Other institutional investors have also bought and sold shares of the company. UBS Asset Management Americas Inc. grew its holdings in shares of Eversource Energy by 17.1% in the first quarter. UBS Asset Management Americas Inc. now owns 1,127,906 shares of the utilities provider’s stock worth $66,298,000 after acquiring an additional 165,069 shares during the period. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Eversource Energy by 24.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,005 shares of the utilities provider’s stock worth $119,000 after acquiring an additional 400 shares during the period. Oxford Asset Management bought a new stake in shares of Eversource Energy in the first quarter worth $1,580,000. Martingale Asset Management L P grew its holdings in shares of Eversource Energy by 100.8% in the first quarter. Martingale Asset Management L P now owns 44,017 shares of the utilities provider’s stock worth $2,588,000 after acquiring an additional 22,100 shares during the period. Finally, Northstar Wealth Partners LLC bought a new stake in shares of Eversource Energy in the first quarter worth $1,028,000. 71.88% of the stock is owned by institutional investors and hedge funds.
Eversource Energy (NYSE:ES) opened at 60.71 on Monday. The company’s 50-day moving average price is $62.57 and its 200 day moving average price is $60.87. Eversource Energy has a 52-week low of $50.56 and a 52-week high of $64.19. The stock has a market capitalization of $19.24 billion, a P/E ratio of 19.65 and a beta of 0.29.
Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.68 by $0.04. The company had revenue of $1.76 billion for the quarter, compared to the consensus estimate of $1.91 billion. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the firm earned $0.64 EPS. On average, equities research analysts predict that Eversource Energy will post $3.15 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th will be given a dividend of $0.475 per share. This represents a $1.90 annualized dividend and a yield of 3.13%. The ex-dividend date is Monday, September 18th. Eversource Energy’s dividend payout ratio is currently 61.49%.
ES has been the subject of several research analyst reports. Credit Suisse Group reaffirmed a “hold” rating and issued a $59.00 price objective on shares of Eversource Energy in a report on Tuesday, June 6th. Janney Montgomery Scott set a $71.00 price objective on Eversource Energy and gave the stock a “buy” rating in a report on Monday, July 31st. Morgan Stanley lifted their price objective on Eversource Energy from $63.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 6th. Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Tuesday, June 13th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $66.00 price objective (up previously from $62.00) on shares of Eversource Energy in a report on Thursday, June 1st. Seven analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $63.50.
Eversource Energy Company Profile
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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