Royal Bank of Canada Has $137.92 Million Holdings in Eversource Energy (NYSE:ES)

Royal Bank of Canada lessened its position in Eversource Energy (NYSE:ES) by 2.7% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,401,585 shares of the utilities provider’s stock after selling 67,259 shares during the quarter. Royal Bank of Canada owned approximately 0.66% of Eversource Energy worth $137,923,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ES. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Eversource Energy by 33.0% in 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 purchasing an additional 9,981 shares in the last quarter. Everett Harris & Co. CA lifted its position 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 buying an additional 4,500 shares in the last quarter. Nisa Investment Advisors LLC boosted its stake in shares of Eversource Energy by 12.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 73,096 shares of the utilities provider’s stock valued at $4,198,000 after buying an additional 7,967 shares during the period. Boston Trust Walden Corp grew its holdings in shares of Eversource Energy by 3.0% during the 4th quarter. Boston Trust Walden Corp now owns 1,002,004 shares of the utilities provider’s stock valued at $57,545,000 after acquiring an additional 28,725 shares in the last quarter. Finally, Savant Capital LLC increased its stake in shares of Eversource Energy by 2.9% in the fourth quarter. Savant Capital LLC now owns 12,202 shares of the utilities provider’s stock worth $701,000 after acquiring an additional 347 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Trading Up 1.4%

Shares of ES stock opened at $63.23 on Monday. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $69.01. The company has a market cap of $23.23 billion, a PE ratio of 27.37, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The business’s 50 day moving average is $59.58 and its two-hundred day moving average is $59.77.

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

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be given a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.76%. The ex-dividend date is Thursday, May 15th. Eversource Energy’s dividend payout ratio is currently 129.74%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ES shares. Scotiabank lowered their target price on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research note on Thursday, February 13th. Barclays lowered their price target 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. BMO Capital Markets increased their price objective on Eversource Energy from $71.00 to $72.00 and gave the stock a “market perform” rating in a report on Monday, April 28th. Wells Fargo & Company reduced their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Finally, 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 report on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and an average target price of $65.78.

Insider Transactions at Eversource Energy

In other Eversource Energy news, 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 value of $61,730.20. Following the completion of the sale, the vice president now directly owns 24,374 shares of the company’s stock, valued at $1,535,318.26. This represents a 3.87% decrease in their position. The sale 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 business’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 transaction, 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 position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Eversource Energy 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.