Clearbridge Investments LLC lessened its holdings in shares of Eversource Energy (NYSE:ES) by 0.1% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 559,472 shares of the utilities provider’s stock after selling 304 shares during the period. Clearbridge Investments LLC’s holdings in Eversource Energy were worth $44,892,000 as of its most recent SEC filing.
A number of other hedge funds have also made changes to their positions in ES. Meridian Wealth Partners LLC acquired a new stake in Eversource Energy in the first quarter valued at $25,000. BDO Wealth Advisors LLC acquired a new stake in Eversource Energy in the first quarter valued at $26,000. CSat Investment Advisory L.P. grew its holdings in Eversource Energy by 53.0% in the first quarter. CSat Investment Advisory L.P. now owns 355 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 123 shares during the last quarter. Tradewinds Capital Management LLC acquired a new stake in Eversource Energy in the second quarter valued at $38,000. Finally, First Horizon Advisors Inc. grew its holdings in Eversource Energy by 246.9% in the second quarter. First Horizon Advisors Inc. now owns 614 shares of the utilities provider’s stock valued at $48,000 after purchasing an additional 437 shares during the last quarter. 77.04% of the stock is currently owned by hedge funds and other institutional investors.
In other news, insider Linda Dorcena Forry sold 625 shares of the stock in a transaction dated Wednesday, August 4th. The stock was sold at an average price of $87.79, for a total value of $54,868.75. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.34% of the stock is currently owned by company insiders.
Eversource Energy (NYSE:ES) last posted its earnings results on Thursday, July 29th. The utilities provider reported $0.79 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.80 by ($0.01). Eversource Energy had a net margin of 13.11% and a return on equity of 9.27%. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2.18 billion. Research analysts anticipate that Eversource Energy will post 3.83 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Thursday, September 30th. Stockholders of record on Thursday, September 16th were paid a $0.6025 dividend. The ex-dividend date of this dividend was Wednesday, September 15th. This represents a $2.41 dividend on an annualized basis and a dividend yield of 2.79%. Eversource Energy’s dividend payout ratio (DPR) is currently 66.21%.
Several analysts have weighed in on the company. Credit Suisse Group assumed coverage on Eversource Energy in a report on Wednesday, July 14th. They issued an “underperform” rating and a $85.00 target price on the stock. Mizuho reduced their price objective on Eversource Energy from $85.00 to $82.00 and set an “underperform” rating on the stock in a research report on Thursday, September 16th. Wells Fargo & Company reduced their price objective on Eversource Energy from $102.00 to $95.00 and set an “overweight” rating on the stock in a research report on Monday, October 4th. Finally, Morgan Stanley upped their price objective on Eversource Energy from $81.00 to $85.00 and gave the company an “underweight” rating in a research report on Thursday, August 19th. Three research analysts have rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $88.57.
Eversource Energy Company Profile
Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Water Distribution and Natural Gas Distribution. The Electric Distribution segment distributes electricity to retail customers.
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