Raymond James & Associates Has $11.65 Million Holdings in Eversource Energy (NYSE:ES)

Raymond James & Associates grew its stake in Eversource Energy (NYSE:ES) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 171,137 shares of the utilities provider’s stock after purchasing an additional 174 shares during the quarter. Raymond James & Associates’ holdings in Eversource Energy were worth $11,646,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ES. Mitsubishi UFJ Trust & Banking Corp boosted its stake in Eversource Energy by 65.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock valued at $227,929,000 after purchasing an additional 1,524,341 shares during the period. Public Sector Pension Investment Board boosted its holdings in shares of Eversource Energy by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock valued at $191,979,000 after purchasing an additional 20,207 shares in the last quarter. Bank of New York Mellon Corp increased its stake in shares of Eversource Energy by 12.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock valued at $177,823,000 after purchasing an additional 354,429 shares during the last quarter. ClearBridge Investments Ltd acquired a new position in shares of Eversource Energy during the 1st quarter worth $156,093,000. Finally, Zimmer Partners LP lifted its position in shares of Eversource Energy by 730.4% during the 1st quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after buying an additional 2,231,585 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Activity

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the transaction, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the sale, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at $639,464.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Eversource Energy Stock Performance

Shares of ES stock opened at $66.49 on Tuesday. The stock has a market capitalization of $23.76 billion, a PE ratio of -246.26, a PEG ratio of 2.56 and a beta of 0.61. The business’s 50 day simple moving average is $66.56 and its 200 day simple moving average is $62.60. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. Eversource Energy has a one year low of $52.03 and a one year high of $69.01.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the previous year, the company earned $1.00 EPS. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. As a group, research analysts forecast that Eversource Energy will post 4.57 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.30%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is presently -1,059.26%.

Analyst Ratings Changes

Several research analysts have commented on the company. Scotiabank boosted their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. BMO Capital Markets cut their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Wells Fargo & Company increased their price target on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research report on Thursday, October 17th. Finally, Morgan Stanley increased their target price on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, Eversource Energy has an average rating of “Hold” and an average target price of $70.07.

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.