Moors & Cabot Inc. Has $1.17 Million Holdings in Eversource Energy (ES)
Moors & Cabot Inc. boosted its holdings in shares of Eversource Energy (NYSE:ES) by 15.6% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,218 shares of the utilities provider’s stock after purchasing an additional 2,595 shares during the quarter. Moors & Cabot Inc.’s holdings in Eversource Energy were worth $1,167,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Brookfield Asset Management Inc. bought a new stake in shares of Eversource Energy in the 1st quarter valued at approximately $106,000. Sun Life Financial INC increased its holdings in shares of Eversource Energy by 23,040.0% in the 2nd quarter. Sun Life Financial INC now owns 2,314 shares of the utilities provider’s stock valued at $140,000 after acquiring an additional 2,304 shares during the last quarter. NEXT Financial Group Inc increased its holdings in shares of Eversource Energy by 168.9% in the 2nd quarter. NEXT Financial Group Inc now owns 2,420 shares of the utilities provider’s stock valued at $147,000 after acquiring an additional 1,520 shares during the last quarter. Van ECK Associates Corp increased its holdings in shares of Eversource Energy by 18.0% in the 1st quarter. Van ECK Associates Corp now owns 2,736 shares of the utilities provider’s stock valued at $161,000 after acquiring an additional 418 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. increased its holdings in shares of Eversource Energy by 63.1% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,270 shares of the utilities provider’s stock valued at $199,000 after acquiring an additional 1,265 shares during the last quarter. Institutional investors own 71.88% of the company’s stock.
A number of equities research analysts have recently weighed in on the company. Morgan Stanley boosted their price target on Eversource Energy from $64.00 to $66.00 and gave the company an “equal weight” rating in a report on Thursday, August 10th. BidaskClub downgraded Eversource Energy from a “hold” rating to a “sell” rating in a report on Wednesday, July 12th. Deutsche Bank AG downgraded Eversource Energy from a “buy” rating to a “hold” rating and boosted their price target for the company from $61.00 to $61.50 in a report on Monday, July 31st. Credit Suisse Group boosted their price target on Eversource Energy from $60.00 to $63.00 and gave the company a “neutral” rating in a report on Monday, October 2nd. Finally, Janney Montgomery Scott set a $71.00 price target on Eversource Energy and gave the company a “buy” rating in a report on Monday, July 31st. Seven equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $63.19.
Shares of Eversource Energy (NYSE ES) traded down 0.41% on Friday, reaching $60.38. The company had a trading volume of 1,593,617 shares. Eversource Energy has a 12 month low of $50.56 and a 12 month high of $64.19. The firm has a market capitalization of $19.13 billion, a PE ratio of 19.54 and a beta of 0.28. The company’s 50-day moving average is $62.13 and its 200 day moving average is $61.07.
Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.72 EPS for the quarter, topping the Zacks’ 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 during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter last year, the company earned $0.64 EPS. The company’s quarterly revenue was down .2% on a year-over-year basis. Equities analysts forecast that Eversource Energy will post $3.15 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Tuesday, September 19th were issued a $0.475 dividend. The ex-dividend date of this dividend was Monday, September 18th. This represents a $1.90 dividend on an annualized basis and a dividend yield of 3.15%. Eversource Energy’s payout ratio is presently 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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