Creative Planning Has $5.94 Million Stake in Eversource Energy $ES

Creative Planning reduced its holdings in shares of Eversource Energy (NYSE:ES) by 1.8% in the second quarter, HoldingsChannel.com reports. The fund owned 93,419 shares of the utilities provider’s stock after selling 1,696 shares during the quarter. Creative Planning’s holdings in Eversource Energy were worth $5,943,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the business. Nuveen LLC bought a new stake in shares of Eversource Energy during the 1st quarter valued at about $286,130,000. Wellington Management Group LLP increased 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 worth $1,068,901,000 after purchasing an additional 739,448 shares in the last quarter. Magellan Asset Management Ltd lifted its stake 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 buying an additional 401,866 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Eversource Energy by 0.8% during the 1st 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 in the last quarter. Finally, Allianz Asset Management GmbH grew its position in shares of Eversource Energy by 244.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 373,788 shares of the utilities provider’s stock worth $23,780,000 after buying an additional 265,290 shares during the period. 79.99% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, EVP James W. Hunt III sold 4,129 shares of the stock in a transaction on Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the sale, the executive vice president directly owned 32,415 shares of the company’s stock, valued at approximately $2,358,839.55. This represents a 11.30% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.41% of the company’s stock.

Eversource Energy Trading Down 2.6%

NYSE:ES opened at $63.57 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64. Eversource Energy has a one year low of $52.28 and a one year high of $75.25. The company has a market cap of $23.85 billion, a PE ratio of 17.42, a PEG ratio of 2.40 and a beta of 0.69. The firm has a 50-day moving average of $71.21 and a 200-day moving average of $66.79.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share 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 analysts’ expectations of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The firm’s revenue for the quarter was up 5.2% compared to the same quarter last year. During the same quarter last year, the firm earned $1.13 EPS. As a group, equities research analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a dividend of $0.7525 per share. The ex-dividend date was Monday, September 22nd. This represents a $3.01 annualized dividend and a yield of 4.7%. Eversource Energy’s dividend payout ratio is 82.47%.

Analyst Ratings Changes

Several brokerages recently issued reports on ES. Mizuho reissued a “neutral” rating and set a $68.00 target price (down from $81.00) on shares of Eversource Energy in a research note on Thursday. BMO Capital Markets cut their price objective on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a research report on Thursday, November 6th. 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 note on Wednesday, October 22nd. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Eversource Energy in a research report on Monday, October 13th. Finally, Wells Fargo & Company lowered Eversource Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the stock from $79.00 to $63.00 in a report on Wednesday. Two analysts have rated the stock with a Buy rating, eight have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Eversource Energy has a consensus rating of “Reduce” and a consensus price target of $69.70.

Eversource Energy Company Profile

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.