Lord Abbett & CO. LLC lowered its stake in shares of Eversource Energy (NYSE:ES) by 6.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 304,900 shares of the utilities provider’s stock after selling 21,000 shares during the quarter. Lord Abbett & CO. LLC owned 0.10% of Eversource Energy worth $17,965,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors also recently bought and sold shares of ES. Signaturefd LLC purchased a new position in Eversource Energy in the first quarter valued at $106,000. Centaurus Financial Inc. purchased a new position in Eversource Energy in the first quarter valued at $119,000. We Are One Seven LLC purchased a new position in Eversource Energy in the fourth quarter valued at $134,000. Optimum Investment Advisors purchased a new position in Eversource Energy in the first quarter valued at $143,000. Finally, Mutual Advisors LLC purchased a new position in Eversource Energy in the fourth quarter valued at $200,000. 73.77% of the stock is currently owned by institutional investors and hedge funds.
Shares of ES opened at $55.76 on Wednesday. Eversource Energy has a fifty-two week low of $52.76 and a fifty-two week high of $66.15. The stock has a market cap of $17.46 billion, a PE ratio of 17.55, a price-to-earnings-growth ratio of 2.95 and a beta of 0.31. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.68 and a quick ratio of 0.61.
Eversource Energy (NYSE:ES) last announced its earnings results on Thursday, May 3rd. The utilities provider reported $0.85 earnings per share for the quarter, hitting the consensus estimate of $0.85. Eversource Energy had a net margin of 12.58% and a return on equity of 9.04%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the prior year, the firm earned $0.82 earnings per share. The business’s quarterly revenue was up 8.7% compared to the same quarter last year. sell-side analysts anticipate that Eversource Energy will post 3.25 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 29th. Stockholders of record on Thursday, May 24th will be paid a dividend of $0.505 per share. The ex-dividend date is Wednesday, May 23rd. This represents a $2.02 annualized dividend and a dividend yield of 3.62%. Eversource Energy’s dividend payout ratio (DPR) is 64.95%.
Several equities analysts have issued reports on the company. Zacks Investment Research raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Thursday, June 7th. Evercore ISI assumed coverage on Eversource Energy in a report on Thursday, March 8th. They set an “outperform” rating and a $62.00 price objective on the stock. Citigroup raised Eversource Energy from a “sell” rating to a “neutral” rating and set a $59.00 price objective on the stock in a report on Tuesday, May 1st. Credit Suisse Group set a $59.00 price objective on Eversource Energy and gave the stock a “hold” rating in a report on Thursday, March 29th. Finally, Wells Fargo & Co reaffirmed an “outperform” rating and set a $65.00 price objective (down previously from $72.00) on shares of Eversource Energy in a report on Monday, February 26th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $62.54.
In other news, EVP Christine M. Carmody sold 21,500 shares of the stock in a transaction dated Monday, May 14th. The shares were sold at an average price of $57.79, for a total transaction of $1,242,485.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Joseph R. Nolan, Jr. sold 6,282 shares of the stock in a transaction dated Thursday, May 17th. The stock was sold at an average price of $57.03, for a total transaction of $358,262.46. The disclosure for this sale can be found here. Insiders have sold 28,117 shares of company stock valued at $1,619,856 in the last quarter. Insiders own 0.45% of the company’s stock.
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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