Berkshire Bank Has $430,000 Position in Eversource Energy (NYSE:ES)

Berkshire Bank lessened its holdings in Eversource Energy (NYSE:ESFree Report) by 15.3% in the first quarter, Holdings Channel reports. The institutional investor owned 7,198 shares of the utilities provider’s stock after selling 1,300 shares during the period. Berkshire Bank’s holdings in Eversource Energy were worth $430,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Simplicity Wealth LLC acquired a new stake in shares of Eversource Energy in the first quarter valued at about $344,000. Wells Trecaso Financial Group LLC lifted its holdings in Eversource Energy by 4.5% in the first quarter. Wells Trecaso Financial Group LLC now owns 5,172 shares of the utilities provider’s stock valued at $309,000 after buying an additional 225 shares during the period. Essex Financial Services Inc. lifted its holdings in Eversource Energy by 1.2% in the first quarter. Essex Financial Services Inc. now owns 19,452 shares of the utilities provider’s stock valued at $1,163,000 after buying an additional 240 shares during the period. Bar Harbor Wealth Management boosted its position in Eversource Energy by 21.7% during the first quarter. Bar Harbor Wealth Management now owns 4,590 shares of the utilities provider’s stock valued at $274,000 after acquiring an additional 819 shares during the last quarter. Finally, Assenagon Asset Management S.A. grew its holdings in Eversource Energy by 6.5% during the 1st quarter. Assenagon Asset Management S.A. now owns 14,321 shares of the utilities provider’s stock worth $856,000 after acquiring an additional 876 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Stock Up 0.7 %

NYSE ES traded up $0.44 during trading hours on Tuesday, hitting $61.22. The company’s stock had a trading volume of 1,584,955 shares, compared to its average volume of 2,768,544. The company has a market capitalization of $21.57 billion, a PE ratio of -51.88, a price-to-earnings-growth ratio of 2.36 and a beta of 0.57. 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 has a 52 week low of $52.03 and a 52 week high of $74.81. The company’s 50-day simple moving average is $59.66 and its two-hundred day simple moving average is $58.76.

Eversource Energy (NYSE:ESGet Free Report) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same quarter last year, the company earned $1.41 earnings per share. The company’s revenue for the quarter was down 12.2% on a year-over-year basis. Research analysts anticipate that Eversource Energy will post 4.53 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 16th will be paid a $0.715 dividend. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.86 annualized dividend and a dividend yield of 4.67%. Eversource Energy’s payout ratio is -242.37%.

Insider Activity

In other news, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the transaction, the insider now owns 21,621 shares in the company, valued at approximately $1,245,369.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the transaction, the insider now directly owns 10,485 shares in the company, valued at $609,388.20. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ES has been the topic of several research analyst reports. Scotiabank cut their target price on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Barclays cut their price target on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a report on Monday, January 22nd. Citigroup lifted their price objective on shares of Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Guggenheim raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $60.00 to $72.00 in a research note on Monday, January 22nd. Finally, Mizuho raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $54.00 to $62.00 in a research note on Thursday, February 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, Eversource Energy has an average rating of “Hold” and a consensus price target of $65.86.

Check Out Our Latest Analysis on Eversource Energy

Eversource Energy Company Profile

(Free Report)

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.

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

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