Cwm LLC lowered its stake in Eversource Energy (NYSE:ES) by 9.7% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 5,670 shares of the utilities provider’s stock after selling 608 shares during the period. Cwm LLC’s holdings in Eversource Energy were worth $344,000 as of its most recent SEC filing.
Other institutional investors have also recently modified their holdings of the company. Brookfield Asset Management Inc. purchased a new position in shares of Eversource Energy during the first quarter valued at about $106,000. Advisory Services Network LLC purchased a new position in shares of Eversource Energy during the first quarter valued at about $112,000. Northwestern Mutual Wealth Management Co. boosted its position 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 valued at $119,000 after buying an additional 400 shares in the last quarter. NEXT Financial Group Inc boosted its position in shares of Eversource Energy by 168.9% in the second quarter. NEXT Financial Group Inc now owns 2,420 shares of the utilities provider’s stock valued at $147,000 after buying an additional 1,520 shares in the last quarter. Finally, First Personal Financial Services boosted its position in shares of Eversource Energy by 180.2% in the first quarter. First Personal Financial Services now owns 2,567 shares of the utilities provider’s stock valued at $151,000 after buying an additional 1,651 shares in the last quarter. 71.04% of the stock is owned by hedge funds and other institutional investors.
Eversource Energy (ES) traded up 0.10% during trading on Wednesday, reaching $60.50. The company’s stock had a trading volume of 27,554 shares. The firm has a 50-day moving average price of $61.53 and a 200-day moving average price of $58.91. The firm has a market capitalization of $19.17 billion, a P/E ratio of 20.10 and a beta of 0.29. Eversource Energy has a 52 week low of $50.56 and a 52 week high of $63.34.
Eversource Energy (NYSE:ES) last announced its quarterly earnings data 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 net margin of 12.45% and a return on equity of 8.98%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter last year, the company posted $0.77 EPS. Eversource Energy’s revenue was up 2.4% on a year-over-year basis. On average, equities analysts anticipate that Eversource Energy will post $3.15 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st were given a dividend of $0.475 per share. The ex-dividend date of this dividend was Friday, May 26th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.14%. Eversource Energy’s dividend payout ratio (DPR) is presently 63.12%.
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Several equities analysts recently issued reports on the company. BidaskClub cut Eversource Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Morgan Stanley reaffirmed an “equal weight” rating on shares of Eversource Energy in a report on Tuesday, July 11th. BMO Capital Markets lifted their price objective on Eversource Energy from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Monday, May 15th. Barclays PLC reaffirmed an “equal weight” rating and set a $66.00 price objective (up from $62.00) on shares of Eversource Energy in a report on Thursday, June 1st. Finally, Zacks Investment Research raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Monday, June 5th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the stock. Eversource Energy currently has an average rating of “Hold” and an average target price of $62.30.
In other news, VP Werner J. Schweiger sold 36,736 shares of the 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.53% of the stock is currently owned by corporate 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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