Russell Investments Group Ltd. lifted its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 94.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 570,190 shares of the utilities provider's stock after purchasing an additional 277,132 shares during the quarter. Russell Investments Group Ltd. owned about 0.16% of Eversource Energy worth $35,196,000 at the end of the most recent quarter.
Other large investors have also modified their holdings of the company. Syon Capital LLC acquired a new position in Eversource Energy during the fourth quarter worth $467,000. Tokio Marine Asset Management Co. Ltd. grew its holdings in Eversource Energy by 8.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,721 shares of the utilities provider's stock worth $538,000 after acquiring an additional 655 shares during the period. Bfsg LLC acquired a new position in Eversource Energy during the fourth quarter worth $31,000. GAMMA Investing LLC acquired a new position in Eversource Energy during the fourth quarter worth $85,000. Finally, Parkside Financial Bank & Trust grew its holdings in Eversource Energy by 33.2% during the fourth quarter. Parkside Financial Bank & Trust now owns 1,506 shares of the utilities provider's stock worth $93,000 after acquiring an additional 375 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.
Eversource Energy Stock Performance
Shares of NYSE:ES traded up $0.98 on Wednesday, hitting $61.60. The company's stock had a trading volume of 2,087,395 shares, compared to its average volume of 2,889,733. The stock's 50-day moving average is $59.09 and its two-hundred day moving average is $58.05. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $77.97. The company has a market capitalization of $21.60 billion, a price-to-earnings ratio of -48.89, a price-to-earnings-growth ratio of 3.22 and a beta of 0.58. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.67.
Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.02). Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The firm had revenue of $2.69 billion for the quarter, compared to the consensus estimate of $3 billion. During the same period in the prior year, the business earned $0.92 EPS. The company's quarterly revenue was down 11.1% compared to the same quarter last year. On average, equities research analysts forecast that Eversource Energy will post 4.51 EPS for the current year.
Eversource Energy Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 16th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.64%. Eversource Energy's dividend payout ratio is -226.98%.
Insider Activity
In related news, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares of the company's stock, valued at approximately $1,245,369.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the sale, the insider now directly owns 10,485 shares of the company's stock, valued at approximately $609,388.20. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares of the company's stock, valued at $1,245,369.60. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by company insiders.
Analyst Ratings Changes
Several analysts have weighed in on the company. Barclays lowered their target price on Eversource Energy from $66.00 to $61.00 and set an "equal weight" rating on the stock in a report on Monday, January 22nd. Wells Fargo & Company lifted their price target on Eversource Energy from $67.00 to $69.00 and gave the company an "overweight" rating in a report on Tuesday, January 9th. Scotiabank lowered their price target on Eversource Energy from $61.00 to $57.00 and set a "sector perform" rating for the company in a report on Monday, April 22nd. BMO Capital Markets lifted their price target on Eversource Energy from $63.00 to $64.00 and gave the company a "market perform" rating in a report on Thursday, February 15th. Finally, UBS Group upgraded Eversource Energy from a "neutral" rating to a "buy" rating and boosted their target price for the stock from $62.00 to $67.00 in a report on Thursday, April 4th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, Eversource Energy currently has a consensus rating of "Hold" and an average price target of $65.85.
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About Eversource Energy
(
Free Report)
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.
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