Bahl & Gaynor Inc. Lowers Stock Holdings in Eversource Energy (NYSE:ES)

Bahl & Gaynor Inc. cut its stake in Eversource Energy (NYSE:ES) by 18.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 654,056 shares of the utilities provider’s stock after selling 151,677 shares during the period. Bahl & Gaynor Inc. owned about 0.19% of Eversource Energy worth $40,368,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of ES. Exchange Traded Concepts LLC purchased a new stake in Eversource Energy during the 4th quarter worth about $26,000. Bfsg LLC purchased a new stake in Eversource Energy during the 4th quarter worth about $31,000. UMB Bank n.a. lifted its holdings in Eversource Energy by 130.9% during the 3rd quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock worth $37,000 after buying an additional 364 shares during the last quarter. CVA Family Office LLC purchased a new stake in Eversource Energy during the 4th quarter worth about $43,000. Finally, MV Capital Management Inc. lifted its holdings in Eversource Energy by 40.4% during the 3rd quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock worth $42,000 after buying an additional 206 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eversource Energy

In other news, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other news, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Linda Dorcena Forry sold 822 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now owns 10,485 shares of the company’s stock, valued at $609,388.20. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ES. Guggenheim upgraded Eversource Energy from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $60.00 to $72.00 in a research report on Monday, January 22nd. The Goldman Sachs Group began coverage on Eversource Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $73.00 target price on the stock. Scotiabank dropped their price target on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. BMO Capital Markets boosted their price target on Eversource Energy from $63.00 to $64.00 and gave the company a “market perform” rating in a research report on Thursday, February 15th. Finally, UBS Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $62.00 to $67.00 in a research report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $65.85.

Eversource Energy Price Performance

ES stock opened at $59.46 on Friday. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $78.64. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67. The stock’s 50 day moving average price is $58.94 and its 200 day moving average price is $57.95. The firm has a market cap of $20.85 billion, a P/E ratio of -47.17, a PEG ratio of 3.22 and a beta of 0.58.

Eversource Energy (NYSE:ES) last posted its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the company posted $0.92 EPS. Eversource Energy’s quarterly revenue was down 11.1% compared to the same quarter last year. On average, sell-side analysts expect that Eversource Energy will post 4.51 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were issued a $0.715 dividend. The ex-dividend date was Monday, March 4th. This is an increase from Eversource Energy’s previous quarterly dividend of $0.68. This represents a $2.86 annualized dividend and a yield of 4.81%. Eversource Energy’s payout ratio is -226.98%.

Eversource Energy Profile

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