Woodline Partners LP Takes $1.26 Million Position in Eversource Energy (NYSE:ES)

Woodline Partners LP purchased a new stake in Eversource Energy (NYSE:ES - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 22,004 shares of the utilities provider's stock, valued at approximately $1,264,000.

Several other institutional investors have also recently bought and sold shares of ES. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Eversource Energy by 33.0% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider's stock valued at $2,306,000 after buying an additional 9,981 shares during the period. Everett Harris & Co. CA lifted its stake in shares of Eversource Energy by 125.2% in the 4th quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider's stock valued at $465,000 after purchasing an additional 4,500 shares during the period. Nisa Investment Advisors LLC boosted its position in shares of Eversource Energy by 12.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 73,096 shares of the utilities provider's stock worth $4,198,000 after purchasing an additional 7,967 shares during the last quarter. Boston Trust Walden Corp grew its stake in shares of Eversource Energy by 3.0% during the fourth quarter. Boston Trust Walden Corp now owns 1,002,004 shares of the utilities provider's stock worth $57,545,000 after purchasing an additional 28,725 shares during the period. Finally, Savant Capital LLC grew its stake in shares of Eversource Energy by 2.9% during the fourth quarter. Savant Capital LLC now owns 12,202 shares of the utilities provider's stock worth $701,000 after purchasing an additional 347 shares during the period. Institutional investors own 79.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ES shares. BMO Capital Markets raised their target price on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. Wells Fargo & Company reduced their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group decreased their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating for the company in a report on Tuesday, January 28th. 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 report on Thursday, April 10th. Finally, Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Three investment 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. Based on data from MarketBeat, Eversource Energy currently has a consensus rating of "Hold" and an average target price of $65.78.

Insider Buying and Selling at Eversource Energy

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 stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.41% of the company's stock.

Eversource Energy Stock Performance

ES traded down $1.20 during trading on Wednesday, hitting $63.41. 1,692,848 shares of the company traded hands, compared to its average volume of 2,427,249. Eversource Energy has a one year low of $52.28 and a one year high of $69.01. The stock's fifty day moving average is $59.98 and its 200 day moving average is $59.88. 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 firm has a market cap of $23.30 billion, a P/E ratio of 27.45, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, meeting 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 for the quarter, compared to analyst estimates of $3.65 billion. During the same quarter in the previous 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. As a group, equities analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Investors 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 4.75%. Eversource Energy's dividend payout ratio (DPR) is 129.74%.

About Eversource Energy

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.