Daymark Wealth Partners LLC Sells 595 Shares of Eversource Energy (NYSE:ES)

Daymark Wealth Partners LLC lowered its stake in Eversource Energy (NYSE:ES) by 7.8% in the first quarter, Holdings Channel reports. The fund owned 7,011 shares of the utilities provider’s stock after selling 595 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Eversource Energy were worth $435,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mizuho Bank Ltd. acquired a new position in Eversource Energy during the 4th quarter worth approximately $26,000. Kestra Investment Management LLC bought a new stake in shares of Eversource Energy during the fourth quarter worth $29,000. Assetmark Inc. increased its holdings in shares of Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock worth $29,000 after buying an additional 254 shares in the last quarter. Pinney & Scofield Inc. bought a new position in shares of Eversource Energy in the 4th quarter valued at $33,000. Finally, Venturi Wealth Management LLC lifted its stake in shares of Eversource Energy by 104.5% in the 4th 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. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, EVP Penelope M. Conner sold 2,600 shares of the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the transaction, the executive vice president now directly owns 10,988 shares of the company’s stock, valued at $703,232. This represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ES. BMO Capital Markets boosted their price objective on Eversource Energy from $71.00 to $72.00 and gave the stock a “market perform” rating in a research report on Monday, April 28th. Scotiabank reduced their price target on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a report on Thursday, February 13th. Wall Street Zen upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, May 16th. JPMorgan Chase & Co. reiterated an “underweight” rating and issued a $58.00 price objective (down previously from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Finally, Wells Fargo & Company reduced their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $65.78.

Eversource Energy Stock Performance

NYSE:ES opened at $65.89 on Wednesday. The company has a market capitalization of $24.21 billion, a PE ratio of 28.52, a P/E/G ratio of 2.35 and a beta of 0.63. The company has a 50 day simple moving average of $60.75 and a two-hundred day simple moving average of $60.10. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data 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 period in the prior year, the firm posted $1.49 EPS. The company’s quarterly revenue was up 23.6% on a year-over-year basis. Research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be issued a dividend of $0.7525 per share. The ex-dividend date is Thursday, May 15th. This represents a $3.01 dividend on an annualized basis and a yield of 4.57%. Eversource Energy’s payout ratio is currently 129.74%.

Eversource Energy 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.