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Raymond James Trust N.A. Has $405,000 Stake in Eversource Energy (NYSE:ES)

Defense World · Sep 27, 2022 04:52

Raymond James Trust N.A. lifted its stake in shares of Eversource Energy (NYSE:ES – Get Rating) by 2.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 4,803 shares of the utilities provider's stock after purchasing an additional 121 shares during the period. Raymond James Trust N.A.'s holdings in Eversource Energy were worth $405,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Rinkey Investments acquired a new position in Eversource Energy in the fourth quarter valued at approximately $31,000. MCF Advisors LLC acquired a new position in Eversource Energy in the first quarter valued at approximately $31,000. Riverview Trust Co acquired a new position in Eversource Energy in the first quarter valued at approximately $33,000. Ellevest Inc. raised its holdings in Eversource Energy by 605.5% in the first quarter. Ellevest Inc. now owns 388 shares of the utilities provider's stock worth $34,000 after purchasing an additional 333 shares during the period. Finally, Tcwp LLC acquired a new stake in Eversource Energy in the first quarter worth $34,000. 78.40% of the stock is currently owned by institutional investors and hedge funds.

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Wall Street Analyst Weigh In

ES has been the topic of several analyst reports. Evercore ISI cut their target price on shares of Eversource Energy to $91.00 in a report on Tuesday, August 9th. Credit Suisse Group increased their price objective on shares of Eversource Energy to $90.00 in a research report on Tuesday, August 9th. UBS Group increased their price objective on shares of Eversource Energy to $89.00 in a research report on Tuesday, September 6th. Barclays lowered their price objective on shares of Eversource Energy from $97.00 to $89.00 and set an "equal weight" rating for the company in a research report on Monday, July 18th. Finally, Guggenheim raised shares of Eversource Energy from a "neutral" rating to a "buy" rating and raised their target price for the company from $92.00 to $97.00 in a research report on Friday, July 8th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus target price of $92.00.

Insider Activity

In other news, VP Gregory B. Butler sold 5,000 shares of the company's stock in a transaction that occurred on Monday, August 29th. The stock was sold at an average price of $91.33, for a total value of $456,650.00. Following the transaction, the vice president now owns 71,814 shares of the company's stock, valued at $6,558,772.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.38% of the stock is owned by company insiders.

Eversource Energy Price Performance

NYSE:ES opened at $84.63 on Tuesday. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 1.30. The stock's 50 day moving average price is $89.72 and its two-hundred day moving average price is $88.35. The firm has a market capitalization of $29.32 billion, a price-to-earnings ratio of 22.10, a P/E/G ratio of 3.33 and a beta of 0.44. Eversource Energy has a 12-month low of $77.07 and a 12-month high of $94.63.

Eversource Energy (NYSE:ES – Get Rating) last released its quarterly earnings data on Thursday, July 28th. The utilities provider reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.02. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.31 billion. Eversource Energy had a return on equity of 9.58% and a net margin of 12.06%. On average, analysts anticipate that Eversource Energy will post 4.11 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Monday, September 26th will be given a $0.6375 dividend. This represents a $2.55 annualized dividend and a dividend yield of 3.01%. The ex-dividend date of this dividend is Friday, September 23rd. Eversource Energy's payout ratio is 66.58%.

Eversource Energy Profile

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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.