ZWJ Investment Counsel Inc. lessened its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 22.2% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 191,157 shares of the utilities provider's stock after selling 54,592 shares during the period. ZWJ Investment Counsel Inc. owned 0.05% of Eversource Energy worth $11,873,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds have also recently modified their holdings of ES. Farther Finance Advisors LLC increased its stake in Eversource Energy by 105.6% during the 1st quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider's stock worth $287,000 after buying an additional 2,374 shares in the last quarter. LSV Asset Management acquired a new stake in shares of Eversource Energy in the fourth quarter worth approximately $2,223,000. Golden State Wealth Management LLC boosted its stake in shares of Eversource Energy by 233.9% in the first quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider's stock worth $52,000 after acquiring an additional 580 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Eversource Energy by 10.7% during the fourth quarter. JPMorgan Chase & Co. now owns 1,569,671 shares of the utilities provider's stock worth $90,146,000 after purchasing an additional 151,562 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Eversource Energy by 9.4% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 548,858 shares of the utilities provider's stock worth $31,455,000 after purchasing an additional 47,189 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.
Eversource Energy Trading Up 0.2%
Shares of ES stock traded up $0.12 on Friday, hitting $64.57. 1,471,270 shares of the stock traded hands, compared to its average volume of 2,497,873. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.66 and a current ratio of 0.75. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $69.01. The firm's 50-day moving average price is $63.23 and its two-hundred day moving average price is $60.46. The stock has a market capitalization of $23.72 billion, a PE ratio of 27.83, a PEG ratio of 2.40 and a beta of 0.62.
Eversource Energy (NYSE:ES - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, meeting the consensus estimate of $1.50. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the business posted $1.49 EPS. Eversource Energy's revenue was up 23.6% on a year-over-year basis. As a group, analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.
Eversource Energy Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, May 15th were given a $0.7525 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.01 annualized dividend and a yield of 4.66%. Eversource Energy's payout ratio is 129.74%.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on ES shares. Mizuho raised their price objective on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. JPMorgan Chase & Co. reiterated an "underweight" rating and issued a $58.00 target price (down from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Finally, BMO Capital Markets upped their price objective on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $65.67.
Get Our Latest Report on ES
Insider Transactions at Eversource Energy
In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the sale, the executive vice president owned 10,988 shares in the company, valued at $703,232. The trade was a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.19% of the stock is currently owned by company insiders.
Eversource Energy Company Profile
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Free Report)
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.
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