Coann Capital LLC Buys 27,103 Shares of Eversource Energy (NYSE:ES)

Coann Capital LLC grew its stake in shares of Eversource Energy (NYSE:ES) by 24.8% during the 1st quarter, Holdings Channel reports. The firm owned 136,238 shares of the utilities provider’s stock after buying an additional 27,103 shares during the period. Eversource Energy comprises about 10.0% of Coann Capital LLC’s investment portfolio, making the stock its biggest position. Coann Capital LLC’s holdings in Eversource Energy were worth $11,797,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the business. BlackRock Inc. increased its position in shares of Eversource Energy by 4.1% during the 1st quarter. BlackRock Inc. now owns 31,649,879 shares of the utilities provider’s stock worth $2,740,562,000 after purchasing an additional 1,241,107 shares during the last quarter. Magellan Asset Management Ltd increased its holdings in shares of Eversource Energy by 3.8% during the 4th quarter. Magellan Asset Management Ltd now owns 25,533,531 shares of the utilities provider’s stock worth $2,208,906,000 after acquiring an additional 939,501 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Eversource Energy by 0.4% during the 4th quarter. Wells Fargo & Company MN now owns 6,959,664 shares of the utilities provider’s stock worth $602,080,000 after acquiring an additional 30,701 shares during the last quarter. UBS Asset Management Americas Inc. increased its holdings in shares of Eversource Energy by 0.5% during the 4th quarter. UBS Asset Management Americas Inc. now owns 4,636,002 shares of the utilities provider’s stock worth $401,061,000 after acquiring an additional 22,513 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of Eversource Energy during the 4th quarter worth approximately $235,467,000. 77.42% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP Jay S. Buth sold 3,001 shares of the company’s stock in a transaction on Tuesday, May 18th. The stock was sold at an average price of $84.38, for a total transaction of $253,224.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Faasen William C. Van sold 1,813 shares of the company’s stock in a transaction on Thursday, May 13th. The stock was sold at an average price of $85.15, for a total value of $154,376.95. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 16,814 shares of company stock valued at $1,393,521. 0.34% of the stock is owned by corporate insiders.

A number of research firms recently weighed in on ES. Wells Fargo & Company decreased their target price on Eversource Energy from $100.00 to $95.00 and set an “overweight” rating on the stock in a report on Thursday, February 25th. Williams Capital reissued a “buy” rating on shares of Eversource Energy in a report on Friday, April 23rd. Credit Suisse Group decreased their target price on Eversource Energy from $89.00 to $85.00 and set an “underperform” rating on the stock in a report on Tuesday, May 11th. KeyCorp reaffirmed a “sector weight” rating on shares of Eversource Energy in a report on Tuesday, April 27th. Finally, Scotiabank raised Eversource Energy from a “sector underperform” rating to a “sector perform” rating and set a $87.00 price objective on the stock in a report on Friday, April 30th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $89.67.

Shares of NYSE:ES traded down $0.30 during trading on Friday, reaching $82.82. 7,144 shares of the company traded hands, compared to its average volume of 1,535,000. The business’s 50 day moving average price is $85.05. The company has a market capitalization of $28.45 billion, a price-to-earnings ratio of 23.02, a PEG ratio of 3.28 and a beta of 0.29. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.57 and a quick ratio of 0.51. Eversource Energy has a 52 week low of $76.64 and a 52 week high of $96.66.

Eversource Energy (NYSE:ES) last released its earnings results on Monday, May 10th. The utilities provider reported $1.08 earnings per share for the quarter, missing analysts’ consensus estimates of $1.09 by ($0.01). The company had revenue of $2.83 billion for the quarter, compared to the consensus estimate of $2.60 billion. Eversource Energy had a net margin of 13.22% and a return on equity of 9.24%. The business’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.02 earnings per share. As a group, sell-side analysts forecast that Eversource Energy will post 3.84 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 30th. Investors of record on Thursday, May 20th will be given a dividend of $0.6025 per share. The ex-dividend date of this dividend is Wednesday, May 19th. This represents a $2.41 annualized dividend and a dividend yield of 2.91%. Eversource Energy’s dividend payout ratio is currently 66.21%.

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.

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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