Redwood Investment Management LLC Has $1.71 Million Position in Eversource Energy (NYSE:ES)

Redwood Investment Management LLC lifted its stake in shares of Eversource Energy (NYSE:ES) by 2.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 29,818 shares of the utilities provider’s stock after purchasing an additional 788 shares during the quarter. Redwood Investment Management LLC’s holdings in Eversource Energy were worth $1,712,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Eversource Energy by 33.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock worth $2,306,000 after buying an additional 9,981 shares in the last quarter. Verity & Verity LLC bought a new stake in Eversource Energy during the 4th quarter worth $744,000. Everett Harris & Co. CA increased its holdings in Eversource Energy by 125.2% in the 4th quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock worth $465,000 after purchasing an additional 4,500 shares in the last quarter. Nisa Investment Advisors LLC increased its holdings in Eversource Energy by 12.2% in the 4th quarter. Nisa Investment Advisors LLC now owns 73,096 shares of the utilities provider’s stock worth $4,198,000 after purchasing an additional 7,967 shares in the last quarter. Finally, Boston Trust Walden Corp raised its position in Eversource Energy by 3.0% in the fourth quarter. Boston Trust Walden Corp now owns 1,002,004 shares of the utilities provider’s stock valued at $57,545,000 after purchasing an additional 28,725 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the sale, the insider now owns 22,671 shares in the company, valued at $1,411,496.46. The trade was a 12.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Jay S. Buth sold 980 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the transaction, the vice president now directly owns 24,374 shares in the company, valued at $1,535,318.26. The trade was 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 owned by insiders.

Analyst Ratings Changes

ES has been the subject of several recent research reports. Scotiabank lowered their price objective on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research note on Thursday, February 13th. Guggenheim restated a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Jefferies Financial Group dropped their price target 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. JPMorgan Chase & Co. reissued an “underweight” rating and issued a $58.00 price objective (down previously from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Finally, Barclays lowered their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and an average price target of $65.78.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $62.32 on Friday. The business has a 50-day moving average price of $59.53 and a two-hundred day moving average price of $59.86. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $69.01. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. The company has a market cap of $22.90 billion, a P/E ratio of 26.98, a PEG ratio of 2.35 and a beta of 0.61.

Eversource Energy (NYSE:ES) last released its earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, hitting the consensus estimate of $1.50. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. The business had revenue of $4.12 billion during the quarter, compared to analysts’ expectations of $3.65 billion. During the same quarter last year, the firm posted $1.49 earnings per share. The firm’s revenue was up 23.6% on a year-over-year basis. As a group, analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Investors of record on Thursday, May 15th will be given a dividend of $0.7525 per share. The ex-dividend date is Thursday, May 15th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.83%. Eversource Energy’s payout ratio is presently 129.74%.

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.