Eversource Energy (NYSE:ES) Shares Sold by RWC Asset Management LLP

RWC Asset Management LLP decreased its stake in shares of Eversource Energy (NYSE:ES) by 5.4% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 355,364 shares of the utilities provider’s stock after selling 20,466 shares during the quarter. Eversource Energy makes up about 1.3% of RWC Asset Management LLP’s investment portfolio, making the stock its 26th largest position. RWC Asset Management LLP’s holdings in Eversource Energy were worth $21,933,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ES. Exchange Traded Concepts LLC purchased a new position in Eversource Energy during the fourth quarter worth approximately $26,000. Bfsg LLC purchased a new position in Eversource Energy during the fourth quarter worth approximately $31,000. UMB Bank n.a. lifted its position in Eversource Energy by 130.9% during the third quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock worth $37,000 after buying an additional 364 shares in the last quarter. MV Capital Management Inc. lifted its position in Eversource Energy by 40.4% during the third quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock worth $42,000 after buying an additional 206 shares in the last quarter. Finally, CVA Family Office LLC purchased a new position in Eversource Energy during the fourth quarter worth approximately $43,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

ES has been the topic of a number of analyst reports. StockNews.com upgraded Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. Argus reduced their target price on Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. Barclays reduced their target price on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, January 22nd. Scotiabank reduced their target price on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Finally, Mizuho upgraded Eversource Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $54.00 to $62.00 in a research report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and an average target price of $65.85.

Insider Buying and Selling

In related news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the transaction, the insider now directly owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the sale, the insider now owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the transaction, 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. 0.41% of the stock is currently owned by insiders.

Eversource Energy Trading Down 1.8 %

Shares of ES stock traded down $1.06 on Friday, hitting $59.46. The stock had a trading volume of 1,590,695 shares, compared to its average volume of 1,747,319. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. The firm has a market capitalization of $20.85 billion, a P/E ratio of -47.17, a P/E/G ratio of 3.22 and a beta of 0.58. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $78.64. The company’s 50 day moving average price is $58.94 and its 200-day moving average price is $57.95.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.02). Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The company had revenue of $2.69 billion for the quarter, compared to analyst estimates of $3 billion. During the same period in the previous year, the firm earned $0.92 earnings per share. The company’s revenue for the quarter was down 11.1% compared to the same quarter last year. Analysts anticipate that Eversource Energy will post 4.51 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 5th were paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 4.81%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Monday, March 4th. Eversource Energy’s payout ratio is presently -226.98%.

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.