Eversource Energy (NYSE:ES) Stock Holdings Lessened by Miller Howard Investments Inc. NY

Miller Howard Investments Inc. NY trimmed its stake in Eversource Energy (NYSE:ES) by 25.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,592 shares of the utilities provider’s stock after selling 3,667 shares during the quarter. Miller Howard Investments Inc. NY’s holdings in Eversource Energy were worth $633,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also made changes to their positions in ES. Global Assets Advisory LLC bought a new position in Eversource Energy during the first quarter valued at approximately $2,520,000. Salem Investment Counselors Inc. raised its position in Eversource Energy by 49.7% during the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 181 shares in the last quarter. RFG Advisory LLC raised its position in Eversource Energy by 12.7% during the first quarter. RFG Advisory LLC now owns 4,382 shares of the utilities provider’s stock valued at $262,000 after acquiring an additional 493 shares in the last quarter. CVA Family Office LLC raised its position in Eversource Energy by 130.7% during the first quarter. CVA Family Office LLC now owns 1,615 shares of the utilities provider’s stock valued at $97,000 after acquiring an additional 915 shares in the last quarter. Finally, Cox Capital Mgt LLC raised its position in Eversource Energy by 16.6% during the first quarter. Cox Capital Mgt LLC now owns 9,414 shares of the utilities provider’s stock valued at $563,000 after acquiring an additional 1,342 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Trading Up 1.4 %

Shares of ES stock opened at $58.00 on Tuesday. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $74.81. The firm’s fifty day simple moving average is $59.48 and its 200 day simple moving average is $58.80. The firm has a market capitalization of $20.43 billion, a P/E ratio of -49.15, a price-to-earnings-growth ratio of 2.33 and a beta of 0.60. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The business had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the previous year, the firm posted $1.41 earnings per share. Eversource Energy’s revenue was down 12.2% compared to the same quarter last year. As a group, sell-side analysts predict that Eversource Energy will post 4.53 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be issued a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.93%. The ex-dividend date of this dividend is Wednesday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is presently -242.37%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total value of $562,000.00. Following the sale, the vice president now owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total value of $562,000.00. Following the sale, the vice president now owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Penelope M. Conner sold 2,700 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the sale, the executive vice president now directly owns 10,272 shares in the company, valued at approximately $603,480. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ES shares. The Goldman Sachs Group started coverage on shares of Eversource Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price objective on the stock. BMO Capital Markets lifted their price target on shares of Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, May 3rd. UBS Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $62.00 to $67.00 in a research note on Thursday, April 4th. Bank of America upgraded shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 price objective for the company in a research note on Tuesday. Finally, Argus reduced their price objective on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 25th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $65.86.

Eversource Energy Company 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.