Raymond James & Associates Has $12.03 Million Position in Eversource Energy (ES)

Raymond James & Associates lifted its position in shares of Eversource Energy (NYSE:ES) by 5.6% during the first quarter, HoldingsChannel reports. The institutional investor owned 169,560 shares of the utilities provider’s stock after purchasing an additional 9,062 shares during the period. Raymond James & Associates’ holdings in Eversource Energy were worth $12,030,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Bremer Trust National Association purchased a new stake in Eversource Energy in the 4th quarter worth $26,000. Covington Capital Management purchased a new stake in Eversource Energy in the 4th quarter worth $26,000. Certified Advisory Corp lifted its stake in Eversource Energy by 114.8% in the 4th quarter. Certified Advisory Corp now owns 421 shares of the utilities provider’s stock worth $27,000 after purchasing an additional 225 shares in the last quarter. Capital Financial Planning LLC purchased a new stake in Eversource Energy in the 4th quarter worth $27,000. Finally, Destination Wealth Management purchased a new stake in Eversource Energy in the 4th quarter worth $29,000. Institutional investors own 72.99% of the company’s stock.

In other news, EVP Leon J. Olivier sold 7,000 shares of the business’s stock in a transaction dated Tuesday, May 14th. The shares were sold at an average price of $72.95, for a total value of $510,650.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO James J. Judge sold 79,508 shares of the business’s stock in a transaction dated Tuesday, February 26th. The stock was sold at an average price of $69.50, for a total transaction of $5,525,806.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 100,700 shares of company stock worth $7,012,040. Insiders own 0.37% of the company’s stock.

Eversource Energy stock opened at $74.88 on Friday. Eversource Energy has a twelve month low of $52.76 and a twelve month high of $74.16. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.44 and a current ratio of 0.50. The stock has a market capitalization of $23.76 billion, a PE ratio of 22.83, a price-to-earnings-growth ratio of 3.85 and a beta of 0.31.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.97 earnings per share for the quarter, topping analysts’ consensus estimates of $0.91 by $0.06. Eversource Energy had a net margin of 12.50% and a return on equity of 9.43%. The firm had revenue of $2.42 billion for the quarter, compared to the consensus estimate of $2.26 billion. During the same period in the previous year, the firm posted $0.85 EPS. The business’s quarterly revenue was up 5.6% on a year-over-year basis. On average, equities analysts forecast that Eversource Energy will post 3.45 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 23rd will be issued a $0.535 dividend. The ex-dividend date is Wednesday, May 22nd. This represents a $2.14 dividend on an annualized basis and a dividend yield of 2.86%. Eversource Energy’s dividend payout ratio (DPR) is presently 65.24%.

Several analysts have commented on the stock. Zacks Investment Research cut shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Friday, March 15th. Bank of America cut shares of Eversource Energy from a “neutral” rating to an “underperform” rating and set a $68.00 price target on the stock. in a research note on Monday, February 25th. Scotiabank reiterated a “sell” rating and issued a $63.00 price target on shares of Eversource Energy in a research note on Thursday, February 21st. Williams Capital reiterated a “buy” rating on shares of Eversource Energy in a research note on Monday, March 18th. Finally, Morgan Stanley boosted their price target on shares of Eversource Energy from $69.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, February 12th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and eight have given a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $69.90.

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About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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