Baker Ellis Asset Management LLC Sells 413 Shares of Eversource Energy (NYSE:ES)

Baker Ellis Asset Management LLC lowered its stake in shares of Eversource Energy (NYSE:ES) by 3.6% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 11,097 shares of the utilities provider’s stock after selling 413 shares during the quarter. Baker Ellis Asset Management LLC’s holdings in Eversource Energy were worth $663,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in ES. Heritage Wealth Advisors bought a new position in Eversource Energy during the fourth quarter worth about $25,000. Exchange Traded Concepts LLC bought a new position in Eversource Energy during the fourth quarter worth about $26,000. Rise Advisors LLC bought a new position in Eversource Energy during the first quarter worth about $27,000. Bfsg LLC bought a new position in Eversource Energy during the fourth quarter worth about $31,000. Finally, Versant Capital Management Inc boosted its position in shares of Eversource Energy by 62.6% in the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after acquiring an additional 201 shares during the period. Institutional investors own 79.99% of the company’s stock.

Insider Transactions at Eversource Energy

In other news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 63,808 shares in the company, valued at $3,586,009.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy 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 in the company, valued at $3,586,009.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy 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 owns 10,272 shares in the company, valued at approximately $603,480. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

ES has been the subject of a number of analyst reports. Argus cut 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 report on Monday, March 25th. The Goldman Sachs Group initiated 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. Scotiabank cut their price objective on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. BMO Capital Markets raised their price objective 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. Finally, 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 report on Tuesday, June 25th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $65.86.

Eversource Energy Stock Down 0.8 %

Shares of Eversource Energy stock opened at $56.71 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.68 and a current ratio of 0.77. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $74.81. The stock has a market capitalization of $19.98 billion, a price-to-earnings ratio of -48.06, a P/E/G ratio of 2.19 and a beta of 0.60. The company’s 50 day moving average price is $59.35 and its 200-day moving average price is $58.72.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate 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 firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter last year, the business earned $1.41 earnings per share. The business’s revenue was down 12.2% on a year-over-year basis. Equities research analysts forecast that Eversource Energy will post 4.53 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 16th were issued a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 5.04%. The ex-dividend date was Wednesday, May 15th. Eversource Energy’s dividend payout ratio is -242.37%.

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.