Cresset Asset Management LLC Has $262,000 Stock Position in Eversource Energy (NYSE:ES)

Cresset Asset Management LLC trimmed its position in Eversource Energy (NYSE:ES) by 87.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,569 shares of the utilities provider’s stock after selling 31,490 shares during the quarter. Cresset Asset Management LLC’s holdings in Eversource Energy were worth $262,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Mizuho Bank Ltd. acquired a new stake in shares of Eversource Energy during the fourth quarter worth approximately $26,000. Kestra Investment Management LLC acquired a new stake in shares of Eversource Energy during the fourth quarter worth approximately $29,000. Assetmark Inc. lifted its stake in Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 254 shares during the last quarter. Venturi Wealth Management LLC lifted its stake in Eversource Energy by 104.5% in the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock valued at $34,000 after acquiring an additional 301 shares during the last quarter. Finally, OFI Invest Asset Management acquired a new stake in Eversource Energy in the fourth quarter valued at approximately $35,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eversource Energy news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction on Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following the sale, the vice president now owns 24,374 shares in the company, valued at $1,535,318.26. The trade was a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the sale, the insider now owns 22,671 shares in the company, valued at $1,411,496.46. This represents a 12.00% decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Eversource Energy Trading Up 1.4%

NYSE:ES opened at $63.23 on Friday. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $69.01. The firm has a market cap of $23.23 billion, a price-to-earnings ratio of 27.37, a P/E/G ratio of 2.35 and a beta of 0.61. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The company’s 50 day moving average is $59.58 and its 200-day moving average is $59.81.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, meeting analysts’ consensus estimates of $1.50. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. The company had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter last year, the firm posted $1.49 earnings per share. The company’s quarterly revenue was up 23.6% compared to the same quarter last year. Equities analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, May 15th will be given a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.76%. The ex-dividend date is Thursday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is currently 129.74%.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ES. Scotiabank reduced their target price on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company reduced their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Friday. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $58.00 target price (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Finally, BMO Capital Markets lifted their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the company a “market perform” rating in a research note on Monday, April 28th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $65.78.

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.