Riverview Capital Advisers LLC Sells 1,401 Shares of Eversource Energy (NYSE:ES)

Riverview Capital Advisers LLC trimmed its stake in shares of Eversource Energy (NYSE:ES) by 1.5% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,083 shares of the utilities provider’s stock after selling 1,401 shares during the quarter. Eversource Energy makes up about 1.5% of Riverview Capital Advisers LLC’s portfolio, making the stock its 18th largest holding. Riverview Capital Advisers LLC’s holdings in Eversource Energy were worth $5,116,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. ProShare Advisors LLC raised its stake in shares of Eversource Energy by 7.9% during the fourth quarter. ProShare Advisors LLC now owns 82,879 shares of the utilities provider’s stock valued at $4,760,000 after acquiring an additional 6,053 shares during the last quarter. Quantinno Capital Management LP increased its holdings in Eversource Energy by 93.8% in the fourth quarter. Quantinno Capital Management LP now owns 62,974 shares of the utilities provider’s stock valued at $3,617,000 after purchasing an additional 30,485 shares during the period. Mufg Securities Americas Inc. bought a new position in Eversource Energy during the 4th quarter worth $311,000. Nissay Asset Management Corp Japan ADV lifted its holdings in Eversource Energy by 2.1% during the 4th quarter. Nissay Asset Management Corp Japan ADV now owns 45,553 shares of the utilities provider’s stock worth $2,611,000 after buying an additional 917 shares during the period. Finally, Nomura Holdings Inc. acquired a new stake in shares of Eversource Energy in the fourth quarter valued at about $693,000. Institutional investors own 79.99% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the company. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Barclays decreased their price objective on shares of 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. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, May 6th. JPMorgan Chase & Co. reiterated an “underweight” rating and set a $58.00 price target (down from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Finally, BMO Capital Markets boosted their price objective on Eversource Energy from $71.00 to $72.00 and gave the company a “market perform” rating in a research note on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and an average price target of $65.78.

Eversource Energy Stock Performance

Shares of ES opened at $61.39 on Thursday. Eversource Energy has a one year low of $52.28 and a one year high of $69.01. The company has a market cap of $22.55 billion, a PE ratio of 26.58, a P/E/G ratio of 2.35 and a beta of 0.61. The stock has a 50-day moving average of $59.51 and a 200-day moving average of $59.89. 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 (NYSE:ES) last posted its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, meeting the consensus estimate of $1.50. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter last year, the firm posted $1.49 EPS. Eversource Energy’s revenue was up 23.6% compared to the same quarter last year. On average, equities research analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be given a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.90%. The ex-dividend date of this dividend is Thursday, May 15th. Eversource Energy’s payout ratio is presently 129.74%.

Insider Buying and Selling at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction dated 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 directly owns 24,374 shares of the company’s stock, valued at $1,535,318.26. This trade represents a 3.87% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction dated 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 directly owns 22,671 shares of the company’s stock, valued at $1,411,496.46. The trade was a 12.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

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.