SG Americas Securities LLC Decreases Holdings in Eversource Energy (ES)

SG Americas Securities LLC trimmed its position in shares of Eversource Energy (NYSE:ES) by 51.6% during the first quarter, HoldingsChannel reports. The firm owned 7,336 shares of the utilities provider’s stock after selling 7,829 shares during the quarter. SG Americas Securities LLC’s holdings in Eversource Energy were worth $520,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Bremer Trust National Association acquired a new stake in shares of Eversource Energy in the fourth quarter valued at $26,000. Covington Capital Management acquired a new stake in shares of Eversource Energy in the fourth quarter valued at $26,000. Certified Advisory Corp raised its stake in shares of Eversource Energy by 114.8% in the fourth quarter. Certified Advisory Corp now owns 421 shares of the utilities provider’s stock valued at $27,000 after acquiring an additional 225 shares in the last quarter. Capital Financial Planning LLC acquired a new stake in shares of Eversource Energy in the fourth quarter valued at $27,000. Finally, Destination Wealth Management acquired a new stake in shares of Eversource Energy in the fourth quarter valued at $29,000. Institutional investors own 72.99% of the company’s stock.

Several analysts have recently issued reports on the company. Morgan Stanley increased their price objective on Eversource Energy from $69.00 to $71.00 and gave the company an “equal weight” rating in a research note on Tuesday, February 12th. Zacks Investment Research cut Eversource Energy from a “hold” rating to a “sell” rating in a research note on Monday, April 22nd. Goldman Sachs Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating in a research note on Wednesday, January 30th. Guggenheim lowered Eversource Energy from a “buy” rating to a “neutral” rating in a report on Friday, February 22nd. Finally, Scotiabank reissued a “sell” rating and issued a $63.00 target price on shares of Eversource Energy in a report on Thursday, February 21st. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company’s stock. Eversource Energy has an average rating of “Hold” and a consensus target price of $69.90.

In other Eversource Energy news, VP Gregory B. Butler sold 11,500 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $68.63, for a total transaction of $789,245.00. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Leon J. Olivier sold 7,000 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $72.95, for a total value of $510,650.00. The disclosure for this sale can be found here. Insiders sold 100,700 shares of company stock worth $7,012,040 in the last three months. 0.37% of the stock is currently owned by corporate insiders.

NYSE:ES traded up $0.35 during trading hours on Friday, hitting $75.19. The company’s stock had a trading volume of 9,523 shares, compared to its average volume of 1,246,759. The firm has a market capitalization of $23.80 billion, a PE ratio of 22.92, a price-to-earnings-growth ratio of 3.85 and a beta of 0.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.50 and a quick ratio of 0.44. Eversource Energy has a 52-week low of $52.76 and a 52-week high of $74.16.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $0.97 EPS for the quarter, beating the consensus estimate of $0.91 by $0.06. The firm had revenue of $2.42 billion for the quarter, compared to analyst estimates of $2.26 billion. Eversource Energy had a return on equity of 9.43% and a net margin of 12.50%. Eversource Energy’s revenue for the quarter was up 5.6% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.85 earnings per share. As a group, equities analysts anticipate that Eversource Energy will post 3.45 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 23rd will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a yield of 2.85%. The ex-dividend date is Wednesday, May 22nd. Eversource Energy’s dividend payout ratio (DPR) is presently 65.24%.

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About Eversource Energy

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: What Factors Can Affect Return on Equity?

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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