Eversource Energy (NYSE:ES) Shares Sold by US Bancorp DE

US Bancorp DE lowered its holdings in Eversource Energy (NYSE:ES) by 14.3% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 71,374 shares of the utilities provider’s stock after selling 11,914 shares during the period. US Bancorp DE’s holdings in Eversource Energy were worth $5,062,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ES. Shelton Capital Management purchased a new position in shares of Eversource Energy in the first quarter worth approximately $587,000. J.W. Cole Advisors Inc. increased its position in shares of Eversource Energy by 8.2% in the second quarter. J.W. Cole Advisors Inc. now owns 5,767 shares of the utilities provider’s stock worth $409,000 after acquiring an additional 438 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Eversource Energy by 6.7% in the first quarter. Envestnet Asset Management Inc. now owns 159,872 shares of the utilities provider’s stock worth $12,512,000 after acquiring an additional 9,986 shares in the last quarter. NewEdge Advisors LLC increased its position in shares of Eversource Energy by 8.9% in the first quarter. NewEdge Advisors LLC now owns 31,258 shares of the utilities provider’s stock worth $2,440,000 after acquiring an additional 2,551 shares in the last quarter. Finally, CVA Family Office LLC increased its position in shares of Eversource Energy by 629.8% in the second quarter. CVA Family Office LLC now owns 2,080 shares of the utilities provider’s stock worth $148,000 after acquiring an additional 1,795 shares in the last quarter. Institutional investors and hedge funds own 80.83% of the company’s stock.

Eversource Energy Price Performance

Shares of Eversource Energy stock opened at $58.30 on Tuesday. The firm has a fifty day simple moving average of $57.22 and a 200-day simple moving average of $65.32. The company has a current ratio of 0.56, a quick ratio of 0.50 and a debt-to-equity ratio of 1.41. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $87.71. The stock has a market capitalization of $20.37 billion, a price-to-earnings ratio of 17.46, a PEG ratio of 2.65 and a beta of 0.54.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Monday, November 6th. The utilities provider reported $0.97 earnings per share for the quarter, missing analysts’ consensus estimates of $0.98 by ($0.01). Eversource Energy had a return on equity of 9.64% and a net margin of 9.52%. The firm had revenue of $2.79 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the firm posted $1.01 earnings per share. Eversource Energy’s quarterly revenue was down 13.2% compared to the same quarter last year. On average, sell-side analysts expect that Eversource Energy will post 4.35 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Monday, September 25th were paid a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date of this dividend was Friday, September 22nd. Eversource Energy’s payout ratio is 80.84%.

Analysts Set New Price Targets

A number of brokerages recently commented on ES. Scotiabank downgraded shares of Eversource Energy from a “sector outperform” rating to a “sector perform” rating and set a $60.00 price objective on the stock. in a research report on Monday, October 16th. Mizuho lowered their price objective on shares of Eversource Energy from $79.00 to $73.00 in a research report on Friday, July 28th. TheStreet downgraded shares of Eversource Energy from a “b-” rating to a “c” rating in a research report on Thursday, August 31st. Guggenheim downgraded shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $60.00 price objective on the stock. in a research report on Friday, October 13th. Finally, Barclays lowered their price objective on shares of Eversource Energy from $72.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Tuesday, October 24th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and one has given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $68.67.

Eversource Energy Company 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.