Bar Harbor Wealth Management Reduces Stock Position in Eversource Energy (NYSE:ES)

Bar Harbor Wealth Management cut its stake in shares of Eversource Energy (NYSE:ES) by 4.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 4,590 shares of the utilities provider’s stock after selling 190 shares during the period. Bar Harbor Wealth Management’s holdings in Eversource Energy were worth $264,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brooklyn Investment Group purchased a new stake in Eversource Energy during the third quarter valued at $31,000. Ashton Thomas Securities LLC purchased a new position in Eversource Energy in the third quarter worth about $32,000. UMB Bank n.a. grew its stake in shares of Eversource Energy by 62.9% during the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 198 shares during the period. Larson Financial Group LLC increased its position in shares of Eversource Energy by 162.0% during the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 350 shares during the last quarter. Finally, MFA Wealth Advisors LLC bought a new position in shares of Eversource Energy in the 3rd quarter worth approximately $48,000. 79.99% of the stock is owned by institutional investors.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $55.95 on Tuesday. The firm has a market cap of $20.50 billion, a price-to-earnings ratio of -35.64, a P/E/G ratio of 2.38 and a beta of 0.62. The firm has a fifty day moving average price of $59.76 and a 200 day moving average price of $62.94. Eversource Energy has a fifty-two week low of $52.09 and a fifty-two week high of $69.01. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, beating the consensus estimate of $1.08 by $0.05. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The business’s revenue was up 9.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.97 EPS. As a group, sell-side analysts expect that Eversource Energy will post 4.56 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, December 31st. Stockholders of record on Wednesday, December 18th were issued a dividend of $0.715 per share. The ex-dividend date was Wednesday, December 18th. This represents a $2.86 annualized dividend and a dividend yield of 5.11%. Eversource Energy’s dividend payout ratio (DPR) is -182.17%.

Analyst Ratings Changes

A number of analysts have commented on the stock. Scotiabank cut shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their target price for the company from $66.00 to $56.00 in a report on Thursday, December 12th. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. BMO Capital Markets cut their price target on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Mizuho raised their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Barclays lifted their price objective on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $68.38.

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.