Rhumbline Advisers Boosts Stock Holdings in Eversource Energy (NYSE:ES)

Rhumbline Advisers increased its stake in Eversource Energy (NYSE:ES - Free Report) by 6.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 781,176 shares of the utilities provider's stock after purchasing an additional 46,533 shares during the quarter. Rhumbline Advisers owned approximately 0.21% of Eversource Energy worth $48,519,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Mizuho Bank Ltd. bought a new stake in Eversource Energy during the 4th quarter valued at $26,000. Kestra Investment Management LLC bought a new stake in Eversource Energy during the 4th quarter valued at $29,000. Assetmark Inc. raised its holdings in Eversource Energy by 99.2% during the 4th 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 period. Pinney & Scofield Inc. bought a new stake in Eversource Energy during the 4th quarter valued at $33,000. Finally, Venturi Wealth Management LLC raised its holdings in Eversource Energy by 104.5% during 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 period. Institutional investors own 79.99% of the company's stock.

Eversource Energy Price Performance

NYSE:ES traded up $0.59 during midday trading on Thursday, hitting $65.25. The company had a trading volume of 4,307,155 shares, compared to its average volume of 2,446,383. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01. The stock's fifty day moving average price is $60.48 and its 200-day moving average price is $60.03. The company has a market capitalization of $23.97 billion, a PE ratio of 28.25, 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.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 during the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the business earned $1.49 earnings per share. The firm's quarterly revenue was up 23.6% compared to the same quarter last year. As a group, research analysts expect that Eversource Energy will post 4.75 earnings per share 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 $0.7525 dividend. The ex-dividend date is Thursday, May 15th. This represents a $3.01 annualized dividend and a yield of 4.61%. Eversource Energy's dividend payout ratio (DPR) is presently 129.74%.

Insider Buying and Selling

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the company's stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the completion of the sale, the executive vice president now directly owns 10,988 shares in the company, valued at $703,232. This represents a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

ES has been the subject of a number of recent analyst reports. Scotiabank reduced their price target on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a research report on Thursday, February 13th. Wells Fargo & Company decreased their price target 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. Guggenheim reaffirmed a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $58.00 price target (down previously from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $65.78.

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.