First Citizens Bank & Trust Co. trimmed its stake in shares of Eversource Energy (NYSE:ES) by 26.2% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,334 shares of the utilities provider’s stock after selling 1,542 shares during the period. First Citizens Bank & Trust Co.’s holdings in Eversource Energy were worth $307,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors also recently bought and sold shares of the company. Bremer Trust National Association acquired a new stake in Eversource Energy during the fourth quarter worth about $26,000. Covington Capital Management acquired a new stake in Eversource Energy during the fourth quarter worth about $26,000. Certified Advisory Corp grew its holdings in Eversource Energy by 114.8% during the fourth quarter. Certified Advisory Corp now owns 421 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 225 shares during the period. Capital Financial Planning LLC acquired a new stake in Eversource Energy during the fourth quarter worth about $27,000. Finally, Destination Wealth Management acquired a new stake in Eversource Energy during the fourth quarter worth about $29,000. 73.99% of the stock is currently owned by hedge funds and other institutional investors.
Shares of ES opened at $70.15 on Wednesday. The company has a current ratio of 0.56, a quick ratio of 0.50 and a debt-to-equity ratio of 1.07. Eversource Energy has a 12 month low of $52.76 and a 12 month high of $72.26. The company has a market capitalization of $22.46 billion, a price-to-earnings ratio of 21.39, a price-to-earnings-growth ratio of 3.68 and a beta of 0.31.
Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Wednesday, February 20th. The utilities provider reported $0.73 EPS for the quarter, missing the consensus estimate of $0.75 by ($0.02). Eversource Energy had a net margin of 12.23% and a return on equity of 9.18%. The business had revenue of $2.03 billion during the quarter, compared to analyst estimates of $1.71 billion. During the same period in the previous year, the business posted $0.75 earnings per share. The firm’s revenue for the quarter was up 7.4% on a year-over-year basis. Research analysts anticipate that Eversource Energy will post 3.46 earnings per share for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th were paid a $0.535 dividend. The ex-dividend date was Monday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.51. This represents a $2.14 dividend on an annualized basis and a dividend yield of 3.05%. Eversource Energy’s payout ratio is currently 65.24%.
Several analysts have commented on ES shares. Goldman Sachs Group raised Eversource Energy from a “neutral” rating to a “buy” rating in a report on Wednesday, January 30th. Guggenheim reissued a “buy” rating and issued a $72.00 price objective on shares of Eversource Energy in a report on Monday, January 7th. Bank of America lowered Eversource Energy from a “neutral” rating to an “underperform” rating and set a $68.00 price objective on the stock. in a report on Monday, February 25th. Macquarie raised Eversource Energy from a “neutral” rating to an “outperform” rating and set a $73.00 price objective on the stock in a report on Monday, March 4th. Finally, Morgan Stanley raised their price objective on Eversource Energy from $69.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, February 12th. Three research analysts have rated the stock with a sell rating, four have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average price target of $69.60.
In other news, EVP Christine M. Carmody sold 15,000 shares of Eversource Energy stock in a transaction that occurred on Friday, February 22nd. The stock was sold at an average price of $70.06, for a total value of $1,050,900.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Sanford Cloud, Jr. sold 1,042 shares of Eversource Energy stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $68.87, for a total value of $71,762.54. The disclosure for this sale can be found here. Insiders sold 111,201 shares of company stock worth $7,727,360 over the last ninety days. Corporate insiders own 0.37% of the company’s stock.
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Eversource Energy Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
Further Reading: Dividend
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