RWC Asset Management LLP Decreases Stock Holdings in Eversource Energy $ES

Key Points

• RWC Asset Management LLP cut its Eversource Energy stake by 16.2% in the fourth quarter, selling 22,354 shares and leaving it with 115,276 shares valued at about $7.76 million.
• Broker sentiment on ES is mixed, with several firms trimming price targets and ratings; the stock’s current consensus is Hold with an average target of $71.70.
• Eversource reported better-than-expected Q1 results, including EPS of $1.73 versus $1.59 expected, and it also declared a quarterly dividend of $0.7875 per share, implying a 4.5% annualized yield.

RWC Asset Management LLP reduced its position in shares of Eversource Energy (NYSE:ES - Free Report) by 16.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 115,276 shares of the utilities provider's stock after selling 22,354 shares during the period. RWC Asset Management LLP's holdings in Eversource Energy were worth $7,762,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in ES. Alps Advisors Inc. raised its stake in shares of Eversource Energy by 5.4% in the third quarter. Alps Advisors Inc. now owns 386,853 shares of the utilities provider's stock valued at $27,521,000 after buying an additional 19,795 shares during the period. Aventail Capital Group LP raised its stake in shares of Eversource Energy by 134.6% in the third quarter. Aventail Capital Group LP now owns 1,366,121 shares of the utilities provider's stock valued at $97,186,000 after buying an additional 783,768 shares during the period. Russell Investments Group Ltd. raised its stake in shares of Eversource Energy by 87.2% in the third quarter. Russell Investments Group Ltd. now owns 1,060,902 shares of the utilities provider's stock valued at $75,461,000 after buying an additional 494,158 shares during the period. Caprock Group LLC bought a new stake in shares of Eversource Energy in the third quarter valued at $1,511,000. Finally, Legal & General Group Plc raised its stake in shares of Eversource Energy by 1.3% in the third quarter. Legal & General Group Plc now owns 5,088,500 shares of the utilities provider's stock valued at $361,996,000 after buying an additional 63,466 shares during the period. 79.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several brokerages have issued reports on ES. Bank of America restated a "buy" rating and issued a $72.00 target price on shares of Eversource Energy in a research note on Wednesday, April 22nd. BMO Capital Markets lowered their target price on Eversource Energy from $75.00 to $73.00 and set a "market perform" rating on the stock in a research note on Monday, May 11th. UBS Group lowered their target price on Eversource Energy from $80.00 to $74.00 and set a "neutral" rating on the stock in a research note on Friday, March 27th. Seaport Research Partners lowered Eversource Energy from a "buy" rating to a "neutral" rating in a research note on Monday, April 20th. Finally, Scotiabank decreased their target price on Eversource Energy from $66.00 to $63.00 and set a "sector underperform" rating on the stock in a research note on Tuesday, April 21st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Eversource Energy presently has a consensus rating of "Hold" and an average price target of $71.70.

Insider Activity

In other news, VP Gregory B. Butler sold 7,000 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $69.88, for a total value of $489,160.00. Following the completion of the transaction, the vice president directly owned 56,179 shares in the company, valued at approximately $3,925,788.52. This represents a 11.08% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company's stock.

Eversource Energy Price Performance

Shares of NYSE ES opened at $70.56 on Monday. The firm has a market capitalization of $26.54 billion, a P/E ratio of 15.08, a P/E/G ratio of 4.68 and a beta of 0.71. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.62. The stock's 50-day simple moving average is $68.81 and its two-hundred day simple moving average is $69.26. Eversource Energy has a twelve month low of $61.53 and a twelve month high of $76.41.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of $1.59 by $0.14. The business had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.21 billion. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The company's quarterly revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.50 EPS. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, equities analysts anticipate that Eversource Energy will post 4.65 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th will be issued a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date is Monday, May 18th. Eversource Energy's dividend payout ratio is presently 67.31%.

Eversource Energy Company Profile

Eversource Energy NYSE: ES is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company's core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.

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