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

Russell Investments Group Ltd. increased its position in Eversource Energy (NYSE:ES) by 94.6% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 570,190 shares of the utilities provider’s stock after purchasing an additional 277,132 shares during the period. Russell Investments Group Ltd. owned 0.16% of Eversource Energy worth $35,196,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Syon Capital LLC purchased a new stake in shares of Eversource Energy in the 4th quarter valued at about $467,000. Tokio Marine Asset Management Co. Ltd. lifted its holdings in shares of Eversource Energy by 8.1% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 8,721 shares of the utilities provider’s stock valued at $538,000 after purchasing an additional 655 shares during the last quarter. Bfsg LLC purchased a new stake in shares of Eversource Energy in the 4th quarter valued at about $31,000. GAMMA Investing LLC purchased a new stake in shares of Eversource Energy in the 4th quarter valued at about $85,000. Finally, Parkside Financial Bank & Trust lifted its holdings in shares of Eversource Energy by 33.2% in the 4th quarter. Parkside Financial Bank & Trust now owns 1,506 shares of the utilities provider’s stock valued at $93,000 after purchasing an additional 375 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, insider Linda Dorcena Forry sold 822 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now owns 10,485 shares in the company, valued at approximately $609,388.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the sale, the insider now owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Linda Dorcena Forry sold 822 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the completion of the sale, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Eversource Energy Stock Performance

NYSE ES opened at $60.62 on Wednesday. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. The business’s 50 day moving average is $59.03 and its two-hundred day moving average is $58.03. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $78.64. The stock has a market capitalization of $21.26 billion, a price-to-earnings ratio of -48.11, a PEG ratio of 3.22 and a beta of 0.58.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates of $3 billion. Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. The business’s revenue was down 11.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.92 EPS. Research analysts expect that Eversource Energy will post 4.51 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on ES. Guggenheim raised Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the company from $60.00 to $72.00 in a report on Monday, January 22nd. The Goldman Sachs Group assumed coverage on Eversource Energy in a research report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price target on the stock. Barclays dropped their price target on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research report on Monday, January 22nd. Scotiabank dropped their price target on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Finally, UBS Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $62.00 to $67.00 in a research report on Thursday, April 4th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eversource Energy has an average rating of “Hold” and an average target price of $65.85.

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.