Bahl & Gaynor Inc. Reduces Holdings in Eversource Energy (NYSE:ES)

Bahl & Gaynor Inc. cut its position in Eversource Energy (NYSE:ES) by 18.4% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,367 shares of the utilities provider’s stock after selling 4,368 shares during the quarter. Bahl & Gaynor Inc.’s holdings in Eversource Energy were worth $1,098,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Principal Securities Inc. purchased a new stake in Eversource Energy during the 4th quarter worth approximately $82,000. QRG Capital Management Inc. grew its position in shares of Eversource Energy by 15.3% during the fourth quarter. QRG Capital Management Inc. now owns 11,796 shares of the utilities provider’s stock worth $728,000 after buying an additional 1,564 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in shares of Eversource Energy by 11.6% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 372,229 shares of the utilities provider’s stock worth $23,931,000 after buying an additional 38,786 shares during the last quarter. Janney Montgomery Scott LLC raised its holdings in Eversource Energy by 8.2% in the fourth quarter. Janney Montgomery Scott LLC now owns 104,828 shares of the utilities provider’s stock valued at $6,470,000 after acquiring an additional 7,953 shares in the last quarter. Finally, Inceptionr LLC bought a new position in Eversource Energy during the 4th quarter valued at $277,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the transaction, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the transaction, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares in the company, valued at $591,596. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Eversource Energy Trading Down 0.4 %

Eversource Energy stock opened at $67.51 on Friday. The firm has a 50-day moving average price of $64.52 and a two-hundred day moving average price of $60.93. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $69.01. The firm has a market capitalization of $23.78 billion, a price-to-earnings ratio of -57.21, a PEG ratio of 2.58 and a beta of 0.61. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.74.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the firm posted $1.00 earnings per share. The business’s revenue was down 3.7% on a year-over-year basis. Sell-side analysts expect that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 30th. Stockholders of record on Monday, September 23rd will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.24%. Eversource Energy’s dividend payout ratio (DPR) is -242.37%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on ES shares. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Morgan Stanley increased their target price on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Barclays boosted their price target on Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a report on Monday, July 22nd. Wells Fargo & Company raised their price objective on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. Finally, Bank of America increased their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $68.93.

About Eversource Energy

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.