Janiczek Wealth Management LLC Lowers Stock Holdings in Eversource Energy (NYSE:ES)

Janiczek Wealth Management LLC reduced its position in Eversource Energy (NYSE:ES) by 37.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 722 shares of the utilities provider’s stock after selling 426 shares during the quarter. Janiczek Wealth Management LLC’s holdings in Eversource Energy were worth $43,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Envestnet Portfolio Solutions Inc. bought a new stake in Eversource Energy in the third quarter worth $301,000. Envestnet Asset Management Inc. lifted its stake in shares of Eversource Energy by 80.6% in the 3rd quarter. Envestnet Asset Management Inc. now owns 311,122 shares of the utilities provider’s stock valued at $18,092,000 after acquiring an additional 138,838 shares during the last quarter. LPL Financial LLC boosted its holdings in Eversource Energy by 2.7% during the 3rd quarter. LPL Financial LLC now owns 236,029 shares of the utilities provider’s stock valued at $13,725,000 after acquiring an additional 6,100 shares during the period. Mariner LLC grew its position in Eversource Energy by 17.4% during the 3rd quarter. Mariner LLC now owns 38,483 shares of the utilities provider’s stock worth $2,238,000 after acquiring an additional 5,713 shares during the last quarter. Finally, Federated Hermes Inc. increased its stake in Eversource Energy by 15.1% in the 3rd quarter. Federated Hermes Inc. now owns 2,068 shares of the utilities provider’s stock worth $120,000 after purchasing an additional 272 shares during the period. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Scotiabank dropped their target price on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. UBS Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $62.00 to $67.00 in a research report on Thursday, April 4th. The Goldman Sachs Group started coverage on Eversource Energy in a research note on Wednesday, April 10th. They set a “buy” rating and a $73.00 target price on the stock. Bank of America raised Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 price target for the company in a research note on Tuesday. Finally, Morgan Stanley reduced their price objective on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $65.86.

Eversource Energy Price Performance

NYSE ES traded up $0.10 on Thursday, hitting $57.07. 544,790 shares of the company traded hands, compared to its average volume of 2,600,460. The business’s 50 day moving average price is $59.48 and its 200-day moving average price is $58.78. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $74.81. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68.

Eversource Energy (NYSE:ES) last released its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The firm’s revenue was down 12.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.41 EPS. On average, equities analysts expect that Eversource Energy will post 4.53 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 16th will be given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend is Wednesday, May 15th. Eversource Energy’s payout ratio is currently -242.37%.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 2,700 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the transaction, the executive vice president now owns 10,272 shares in the company, valued at $603,480. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the sale, the vice president now owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction on Friday, May 31st. The stock was sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the transaction, the executive vice president now directly owns 10,272 shares of the company’s stock, valued at $603,480. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

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.