Duff & Phelps Investment Management Co. lowered its stake in Eversource Energy (NYSE:ES) by 0.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,850,975 shares of the company’s stock after selling 1,310 shares during the period. Eversource Energy accounts for about 1.7% of Duff & Phelps Investment Management Co.’s portfolio, making the stock its 9th largest position. Duff & Phelps Investment Management Co.’s holdings in Eversource Energy were worth $110,873,000 at the end of the most recent reporting period.
Several other hedge funds have also recently made changes to their positions in the company. Ledyard National Bank raised its stake in shares of Eversource Energy by 24.5% in the second quarter. Ledyard National Bank now owns 2,968 shares of the company’s stock valued at $178,000 after buying an additional 585 shares in the last quarter. CHICAGO TRUST Co NA bought a new stake in shares of Eversource Energy during the second quarter valued at approximately $206,000. Checchi Capital Advisers LLC raised its stake in shares of Eversource Energy by 1.1% in the second quarter. Checchi Capital Advisers LLC now owns 3,581 shares of the company’s stock valued at $215,000 after buying an additional 38 shares in the last quarter. Gofen & Glossberg LLC IL raised its stake in shares of Eversource Energy by 5.0% in the second quarter. Gofen & Glossberg LLC IL now owns 4,218 shares of the company’s stock valued at $253,000 after buying an additional 200 shares in the last quarter. Finally, YHB Investment Advisors Inc. raised its stake in shares of Eversource Energy by 11.2% in the second quarter. YHB Investment Advisors Inc. now owns 4,245 shares of the company’s stock valued at $254,000 after buying an additional 426 shares in the last quarter. 69.34% of the stock is currently owned by institutional investors.
Eversource Energy (NYSE:ES) traded up 0.71% during midday trading on Tuesday, hitting $54.13. The stock had a trading volume of 1,308,834 shares. The company’s 50-day moving average price is $54.04 and its 200 day moving average price is $56.21. The company has a market capitalization of $17.17 billion, a PE ratio of 19.90 and a beta of 0.29. Eversource Energy has a 52 week low of $48.18 and a 52 week high of $60.44.
Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.65 by $0.01. The company had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.81 billion. Eversource Energy had a return on equity of 8.42% and a net margin of 11.62%. The company’s quarterly revenue was down 2.7% compared to the same quarter last year. During the same period in the prior year, the company earned $0.65 EPS. On average, analysts expect that Eversource Energy will post $2.97 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.29%. The ex-dividend date of this dividend was Thursday, September 15th. Eversource Energy’s dividend payout ratio is currently 65.44%.
Several analysts recently commented on ES shares. Williams Capital reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Friday, September 2nd. Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a research report on Monday, August 1st. Argus reiterated a “buy” rating and issued a $59.00 price objective (down previously from $64.00) on shares of Eversource Energy in a research report on Wednesday, October 12th. Barclays PLC cut their price objective on Eversource Energy from $65.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday, October 4th. Finally, Zacks Investment Research upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research report on Friday, July 1st. One analyst has rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus target price of $59.67.
In related news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $54.77, for a total transaction of $547,700.00. The sale was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 0.89% of the company’s stock.
About Eversource Energy
Eversource Energy, formerly Northeast Utilities, is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
Want to see what other hedge funds are holding ES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eversource Energy (NYSE:ES).
Receive News & Ratings for Eversource Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eversource Energy and related companies with MarketBeat.com's FREE daily email newsletter.