D.A. Davidson & CO. Reduces Position in Eversource Energy (ES)
D.A. Davidson & CO. lessened its position in shares of Eversource Energy (NYSE:ES) by 2.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,073 shares of the utilities provider’s stock after selling 537 shares during the quarter. D.A. Davidson & CO.’s holdings in Eversource Energy were worth $1,461,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in the stock. Private Bank & Trust Co. lifted its position in Eversource Energy by 0.3% during the 2nd quarter. Private Bank & Trust Co. now owns 4,167 shares of the utilities provider’s stock worth $253,000 after acquiring an additional 13 shares during the period. MAI Capital Management lifted its position in Eversource Energy by 0.6% during the 2nd quarter. MAI Capital Management now owns 4,408 shares of the utilities provider’s stock worth $268,000 after acquiring an additional 25 shares during the period. Buckingham Asset Management LLC lifted its position in Eversource Energy by 0.6% during the 2nd quarter. Buckingham Asset Management LLC now owns 4,047 shares of the utilities provider’s stock worth $246,000 after acquiring an additional 25 shares during the period. Cleararc Capital Inc. lifted its position in Eversource Energy by 0.4% during the 1st quarter. Cleararc Capital Inc. now owns 7,743 shares of the utilities provider’s stock worth $455,000 after acquiring an additional 31 shares during the period. Finally, Daiwa Securities Group Inc. lifted its position in Eversource Energy by 0.6% during the 2nd quarter. Daiwa Securities Group Inc. now owns 8,980 shares of the utilities provider’s stock worth $545,000 after acquiring an additional 50 shares during the period. Hedge funds and other institutional investors own 71.88% of the company’s stock.
A number of research firms have weighed in on ES. Morgan Stanley increased their price objective on Eversource Energy from $64.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. BidaskClub cut Eversource Energy from a “hold” rating to a “sell” rating in a research report on Wednesday, July 12th. Zacks Investment Research cut Eversource Energy from a “buy” rating to a “hold” rating in a research report on Tuesday, June 20th. Deutsche Bank AG cut Eversource Energy from a “buy” rating to a “hold” rating and increased their price objective for the stock from $61.00 to $61.50 in a research report on Monday, July 31st. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $66.00 price objective (up from $62.00) on shares of Eversource Energy in a research report on Thursday, June 1st. Seven equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $63.50.
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Shares of Eversource Energy (NYSE:ES) opened at 60.71 on Friday. Eversource Energy has a 12-month low of $50.56 and a 12-month high of $64.19. The stock has a 50 day moving average price of $62.57 and a 200 day moving average price of $60.87. The firm has a market capitalization of $19.24 billion, a PE ratio of 19.65 and a beta of 0.29.
Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The business had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the prior year, the company posted $0.64 EPS. The business’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts predict 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. Investors of record on Tuesday, September 19th will be issued a $0.475 dividend. This represents a $1.90 dividend on an annualized basis and a yield of 3.13%. The ex-dividend date is Monday, September 18th. Eversource Energy’s dividend payout ratio (DPR) is 61.49%.
Eversource Energy Profile
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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