Russell Investments Group Ltd. Reduces Holdings in Eversource Energy (NYSE:ES)

Russell Investments Group Ltd. cut its stake in Eversource Energy (NYSE:ES) by 9.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 778,897 shares of the utilities provider’s stock after selling 85,778 shares during the period. Russell Investments Group Ltd. owned about 0.21% of Eversource Energy worth $44,730,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of ES. Exchange Traded Concepts LLC lifted its holdings in shares of 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 purchasing an additional 176 shares during the last quarter. UMB Bank n.a. increased its position in Eversource Energy by 38.4% during the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock worth $41,000 after buying an additional 197 shares during the period. Summit Trail Advisors LLC lifted 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 buying an additional 216 shares during the last quarter. Keybank National Association OH boosted its holdings in shares of Eversource Energy by 2.6% in the fourth quarter. Keybank National Association OH now owns 9,090 shares of the utilities provider’s stock valued at $522,000 after acquiring an additional 233 shares during the period. Finally, Whittier Trust Co. grew its position in shares of Eversource Energy by 3.3% during the fourth quarter. Whittier Trust Co. now owns 7,732 shares of the utilities provider’s stock worth $444,000 after acquiring an additional 245 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Down 5.6 %

ES opened at $58.48 on Monday. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. Eversource Energy has a 12 month low of $54.75 and a 12 month high of $69.01. The stock has a market capitalization of $21.47 billion, a P/E ratio of 25.31, a P/E/G ratio of 2.35 and a beta of 0.58. The business 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 released its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates 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, equities analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently announced 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 of this dividend was Tuesday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a yield of 5.15%. Eversource Energy’s dividend payout ratio (DPR) is 130.30%.

Insider Activity

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the transaction, the insider now directly owns 22,671 shares in the company, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction dated Friday, February 21st. The stock was 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 of the company’s stock, valued at approximately $1,535,318.26. The trade was a 3.87 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on ES. StockNews.com downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Sunday. Jefferies Financial Group decreased their target price 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. Scotiabank lowered their price target on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a report on Thursday, February 13th. Barclays reduced their price objective on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Finally, Wells Fargo & Company lowered 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. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat, Eversource Energy has an average rating of “Hold” and an average price target of $67.44.

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.