Sandy Spring Bank Sells 300 Shares of Eversource Energy (ES)
Sandy Spring Bank cut its stake in shares of Eversource Energy (NYSE:ES) by 7.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,694 shares of the utilities provider’s stock after selling 300 shares during the quarter. Sandy Spring Bank’s holdings in Eversource Energy were worth $224,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in ES. Advisors Asset Management Inc. grew its stake in shares of Eversource Energy by 44.4% during the 1st quarter. Advisors Asset Management Inc. now owns 9,716 shares of the utilities provider’s stock valued at $571,000 after acquiring an additional 2,989 shares during the period. UBS Asset Management Americas Inc. grew its stake in shares of Eversource Energy by 17.1% during the 1st quarter. UBS Asset Management Americas Inc. now owns 1,127,906 shares of the utilities provider’s stock valued at $66,298,000 after acquiring an additional 165,069 shares during the period. Engineers Gate Manager LP bought a new position in shares of Eversource Energy during the 1st quarter valued at approximately $222,000. Marble Harbor Investment Counsel LLC grew its stake in shares of Eversource Energy by 6.9% during the 1st quarter. Marble Harbor Investment Counsel LLC now owns 8,126 shares of the utilities provider’s stock valued at $478,000 after acquiring an additional 524 shares during the period. Finally, State of Wisconsin Investment Board grew its stake in shares of Eversource Energy by 12.1% during the 1st quarter. State of Wisconsin Investment Board now owns 354,457 shares of the utilities provider’s stock valued at $20,835,000 after acquiring an additional 38,396 shares during the period. Institutional investors own 71.88% of the company’s stock.
A number of research analysts recently issued reports on the company. BidaskClub upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Morgan Stanley boosted their price objective on Eversource Energy from $64.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Janney Montgomery Scott set a $71.00 price objective on Eversource Energy and gave the company a “buy” rating in a research note on Monday, July 31st. Deutsche Bank AG downgraded Eversource Energy from a “buy” rating to a “hold” rating and boosted their price objective for the company from $61.00 to $61.50 in a research note on Monday, July 31st. Finally, Zacks Investment Research upgraded Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a research note on Wednesday, June 21st. Eight research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Eversource Energy has a consensus rating of “Hold” and an average target price of $62.95.
Eversource Energy (NYSE ES) traded down 0.03% on Tuesday, reaching $61.67. The company’s stock had a trading volume of 44,359 shares. The company has a market capitalization of $19.54 billion, a price-to-earnings ratio of 19.96 and a beta of 0.29. Eversource Energy has a 12-month low of $50.56 and a 12-month high of $64.19. The firm has a 50-day moving average of $62.54 and a 200 day moving average of $60.84.
Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.72 EPS for the quarter, beating the consensus estimate of $0.68 by $0.04. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The company had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the company earned $0.64 earnings per share. Eversource Energy’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities research analysts anticipate that Eversource Energy will post $3.15 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th will be issued a $0.475 dividend. This represents a $1.90 annualized dividend and a yield of 3.08%. The ex-dividend date is Monday, September 18th. Eversource Energy’s payout ratio is currently 61.49%.
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About Eversource Energy
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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