Crestwood Advisors Group LLC Lowers Holdings in Eversource Energy $ES

Crestwood Advisors Group LLC reduced its stake in shares of Eversource Energy (NYSE:ES) by 49.2% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 3,510 shares of the utilities provider’s stock after selling 3,393 shares during the period. Crestwood Advisors Group LLC’s holdings in Eversource Energy were worth $223,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ES. Vanguard Group Inc. boosted its stake in shares of Eversource Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider’s stock worth $2,792,559,000 after buying an additional 351,780 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Eversource Energy by 4.5% in the first quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider’s stock valued at $1,068,901,000 after acquiring an additional 739,448 shares during the period. Magellan Asset Management Ltd lifted its holdings in Eversource Energy by 6.2% in the first quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider’s stock valued at $427,090,000 after acquiring an additional 401,866 shares during the period. Invesco Ltd. boosted its position in Eversource Energy by 0.5% in the 1st quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider’s stock worth $374,920,000 after purchasing an additional 32,304 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Eversource Energy by 3.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,702,415 shares of the utilities provider’s stock worth $354,177,000 after purchasing an additional 185,146 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

NYSE:ES opened at $73.07 on Friday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71. The stock has a market capitalization of $27.12 billion, a PE ratio of 20.02, a P/E/G ratio of 2.57 and a beta of 0.69. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $75.25. The company has a fifty day moving average of $69.81 and a two-hundred day moving average of $65.99.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.07. The business had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.19%. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the business earned $1.13 earnings per share. As a group, research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 4.1%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s payout ratio is 82.47%.

Insider Buying and Selling

In other news, insider Loretta D. Keane bought 3,780 shares of Eversource Energy stock in a transaction on Friday, August 22nd. The stock was acquired at an average price of $66.07 per share, with a total value of $249,744.60. Following the completion of the acquisition, the insider directly owned 12,033 shares of the company’s stock, valued at $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

ES has been the subject of several analyst reports. Scotiabank boosted their target price on shares of Eversource Energy from $55.00 to $64.00 and gave the company a “sector underperform” rating in a research note on Wednesday. Wells Fargo & Company started coverage on shares of Eversource Energy in a research report on Tuesday, October 28th. They set an “overweight” rating and a $79.00 price target on the stock. UBS Group downgraded shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 price objective for the company. in a research report on Thursday. Mizuho increased their target price on shares of Eversource Energy from $72.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Finally, Jefferies Financial Group raised their target price on Eversource Energy from $54.00 to $60.00 and gave the company an “underperform” rating in a research report on Wednesday, October 22nd. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $72.70.

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.