Russell Investments Group Ltd. Lowers Stake in Eversource Energy (NYSE:ES)

Russell Investments Group Ltd. lessened its position in Eversource Energy (NYSE:ES) by 9.9% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 778,897 shares of the utilities provider’s stock after selling 85,778 shares during the period. Russell Investments Group Ltd.’s holdings in Eversource Energy were worth $44,730,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the company. Exchange Traded Concepts LLC raised its holdings in Eversource Energy by 10.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 176 shares during the last quarter. UMB Bank n.a. increased its stake in Eversource Energy by 38.4% in the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 197 shares during the last quarter. Summit Trail Advisors LLC increased its stake in Eversource Energy by 4.6% in the fourth quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock valued at $281,000 after purchasing an additional 216 shares during the last quarter. Keybank National Association OH lifted its position in Eversource Energy by 2.6% during the fourth quarter. Keybank National Association OH now owns 9,090 shares of the utilities provider’s stock worth $522,000 after buying an additional 233 shares during the period. Finally, Whittier Trust Co. boosted its stake in Eversource Energy by 3.3% in the 4th quarter. Whittier Trust Co. now owns 7,732 shares of the utilities provider’s stock worth $444,000 after buying an additional 245 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

ES stock opened at $58.48 on Monday. The firm has a market cap of $21.47 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76. Eversource Energy has a 1 year low of $54.75 and a 1 year high of $69.01. The stock has a 50-day simple moving average of $60.73 and a 200-day simple moving average of $61.31.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. On average, equities analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th were issued a $0.7525 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a yield of 5.15%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s payout ratio is currently 130.30%.

Insider Buying and Selling at Eversource Energy

In related news, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the sale, the insider now owns 22,671 shares in the company, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jay S. Buth sold 980 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following the transaction, the vice president now owns 24,374 shares in the company, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

ES has been the subject of a number of research analyst reports. StockNews.com downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Sunday. Wells Fargo & Company cut their price target 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 lowered their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Barclays cut their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Finally, Scotiabank lowered their price target on 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. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and a consensus target price of $67.44.

Eversource Energy Company 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.