Guggenheim Capital LLC decreased its position in shares of Eversource Energy (NYSE:ES) by 6.0% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 818,977 shares of the utilities provider’s stock after selling 52,324 shares during the period. Guggenheim Capital LLC owned approximately 0.26% of Eversource Energy worth $51,744,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ES. Stratos Wealth Partners LTD. grew its stake in shares of Eversource Energy by 7.9% during the third quarter. Stratos Wealth Partners LTD. now owns 10,782 shares of the utilities provider’s stock valued at $652,000 after buying an additional 792 shares during the last quarter. ETRADE Capital Management LLC grew its stake in shares of Eversource Energy by 14.5% in the third quarter. ETRADE Capital Management LLC now owns 6,312 shares of the utilities provider’s stock worth $382,000 after purchasing an additional 800 shares during the last quarter. OLD Dominion Capital Management Inc. grew its stake in shares of Eversource Energy by 23.2% in the fourth quarter. OLD Dominion Capital Management Inc. now owns 4,435 shares of the utilities provider’s stock worth $280,000 after purchasing an additional 834 shares during the last quarter. First Republic Investment Management Inc. grew its stake in shares of Eversource Energy by 3.8% in the third quarter. First Republic Investment Management Inc. now owns 23,636 shares of the utilities provider’s stock worth $1,428,000 after purchasing an additional 875 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. grew its stake in shares of Eversource Energy by 80.6% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 2,102 shares of the utilities provider’s stock worth $133,000 after purchasing an additional 938 shares during the last quarter. Institutional investors and hedge funds own 73.81% of the company’s stock.
Several research firms recently issued reports on ES. Morgan Stanley raised Eversource Energy from an “equal weight” rating to an “overweight” rating and set a $72.00 target price on the stock in a research note on Wednesday, December 13th. Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $71.00 price objective on the stock in a research report on Tuesday, January 2nd. Credit Suisse Group cut Eversource Energy from a “neutral” rating to an “underperform” rating and cut their price objective for the company from $63.00 to $59.00 in a research report on Tuesday, January 23rd. They noted that the move was a valuation call. Janney Montgomery Scott cut Eversource Energy from a “buy” rating to a “neutral” rating in a research report on Friday, February 2nd. Finally, UBS initiated coverage on Eversource Energy in a research report on Friday, February 2nd. They set a “neutral” rating and a $66.00 price objective on the stock. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $62.75.
Shares of ES stock traded down $0.36 during trading hours on Friday, hitting $59.65. 1,769,333 shares of the company’s stock traded hands, compared to its average volume of 2,083,149. Eversource Energy has a 12-month low of $55.93 and a 12-month high of $66.15. The firm has a market capitalization of $19,016.32, a price-to-earnings ratio of 19.18, a PEG ratio of 3.20 and a beta of 0.32. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.63 and a current ratio of 0.69.
Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, February 22nd. The utilities provider reported $0.75 earnings per share for the quarter, missing analysts’ consensus estimates of $0.76 by ($0.01). Eversource Energy had a return on equity of 9.03% and a net margin of 12.74%. The firm had revenue of $1.90 billion during the quarter, compared to analysts’ expectations of $1.87 billion. During the same quarter in the previous year, the firm earned $0.72 earnings per share. Eversource Energy’s revenue was up 6.7% on a year-over-year basis. sell-side analysts forecast that Eversource Energy will post 3.26 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, March 30th. Investors of record on Tuesday, March 6th were issued a $0.505 dividend. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.48. This represents a $2.02 dividend on an annualized basis and a yield of 3.39%. The ex-dividend date was Monday, March 5th. Eversource Energy’s payout ratio is presently 64.95%.
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About Eversource Energy
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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