RWC Asset Management LLP Raises Stake in Eversource Energy (NYSE:ES)

RWC Asset Management LLP increased its stake in Eversource Energy (NYSE:ES) by 4.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 410,872 shares of the utilities provider’s stock after buying an additional 16,640 shares during the period. RWC Asset Management LLP owned 0.11% of Eversource Energy worth $23,596,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Mirae Asset Global Investments Co. Ltd. grew its holdings in Eversource Energy by 33.0% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock worth $2,306,000 after acquiring an additional 9,981 shares in the last quarter. Verity & Verity LLC bought a new position in shares of Eversource Energy during the fourth quarter valued at approximately $744,000. Nordea Investment Management AB increased its holdings in Eversource Energy by 41.7% during the fourth quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock valued at $99,554,000 after buying an additional 510,582 shares during the period. Landscape Capital Management L.L.C. raised its stake in Eversource Energy by 46.9% in the third quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock worth $2,151,000 after buying an additional 10,093 shares in the last quarter. Finally, Everett Harris & Co. CA lifted its holdings in Eversource Energy by 125.2% during the fourth quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock worth $465,000 after buying an additional 4,500 shares during the period. Institutional investors own 79.99% of the company’s stock.

Insider Activity

In related news, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 of the company’s stock, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.41% of the company’s stock.

Eversource Energy Trading Up 0.0 %

Shares of Eversource Energy stock opened at $63.41 on Monday. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01. The firm has a market capitalization of $23.26 billion, a PE ratio of 27.45, a P/E/G ratio of 2.35 and a beta of 0.62. The firm’s 50-day moving average price is $58.19 and its 200 day moving average price is $62.50.

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

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be issued a dividend of $0.7525 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.75%. Eversource Energy’s dividend payout ratio is presently 123.81%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Jefferies Financial Group lowered their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Friday. Barclays reduced their price target 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. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Finally, Wells Fargo & Company dropped their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $67.45.

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.