SouthState Corp Has $212,000 Stock Holdings in Eversource Energy (NYSE:ES)

SouthState Corp reduced its position in shares of Eversource Energy (NYSE:ES) by 57.9% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 3,434 shares of the utilities provider’s stock after selling 4,719 shares during the quarter. SouthState Corp’s holdings in Eversource Energy were worth $212,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Czech National Bank lifted its holdings in shares of Eversource Energy by 0.3% in the 4th quarter. Czech National Bank now owns 61,182 shares of the utilities provider’s stock worth $3,776,000 after purchasing an additional 168 shares in the last quarter. Pinion Investment Advisors LLC increased its position in shares of Eversource Energy by 4.1% during the third quarter. Pinion Investment Advisors LLC now owns 4,955 shares of the utilities provider’s stock worth $288,000 after acquiring an additional 197 shares in the last quarter. Assetmark Inc. raised its holdings in shares of Eversource Energy by 22.8% in the 3rd quarter. Assetmark Inc. now owns 1,087 shares of the utilities provider’s stock worth $63,000 after acquiring an additional 202 shares during the last quarter. MV Capital Management Inc. lifted its position in Eversource Energy by 40.4% in the 3rd quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 206 shares in the last quarter. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA boosted its stake in Eversource Energy by 22.1% during the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,217 shares of the utilities provider’s stock valued at $66,000 after purchasing an additional 220 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Down 1.2 %

Shares of NYSE ES traded down $0.74 during mid-day trading on Friday, hitting $60.01. The company had a trading volume of 3,447,870 shares, compared to its average volume of 2,016,408. The stock’s 50-day moving average price is $59.15 and its 200-day moving average price is $58.07. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $77.97.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.22%. Eversource Energy’s revenue was down 12.2% compared to the same quarter last year. During the same period last year, the business earned $1.41 earnings per share. On average, sell-side analysts expect that Eversource Energy will post 4.49 earnings per share for the current year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be given a $0.715 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.77%. Eversource Energy’s dividend payout ratio (DPR) is presently -242.37%.

Insiders Place Their Bets

In other Eversource Energy news, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the transaction, the insider now directly owns 10,485 shares in the company, valued at $609,388.20. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on ES. Scotiabank lowered their price objective on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Mizuho upgraded Eversource Energy from a “neutral” rating to a “buy” rating and raised their price objective for the company from $54.00 to $62.00 in a research note on Thursday, February 15th. Guggenheim upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and increased their target price for the company from $60.00 to $72.00 in a report on Monday, January 22nd. The Goldman Sachs Group began coverage on shares of Eversource Energy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price objective for the company. Finally, Barclays cut their target price on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Monday, January 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, Eversource Energy has an average rating of “Hold” and an average price target of $66.23.

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.