Richardson Financial Services Inc. Acquires New Shares in Eversource Energy (NYSE:ES)

Richardson Financial Services Inc. acquired a new stake in Eversource Energy (NYSE:ES) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 2,405 shares of the utilities provider’s stock, valued at approximately $148,000.

A number of other large investors have also made changes to their positions in ES. Czech National Bank boosted its stake in Eversource Energy by 0.3% in the 4th quarter. Czech National Bank now owns 61,182 shares of the utilities provider’s stock worth $3,776,000 after purchasing an additional 168 shares during the period. Presima Securities ULC boosted its stake in Eversource Energy by 1.5% in the 4th quarter. Presima Securities ULC now owns 13,730 shares of the utilities provider’s stock worth $847,000 after purchasing an additional 200 shares during the period. West Branch Capital LLC boosted its stake in Eversource Energy by 14.4% in the 4th quarter. West Branch Capital LLC now owns 1,747 shares of the utilities provider’s stock worth $108,000 after purchasing an additional 220 shares during the period. Private Trust Co. NA boosted its stake in Eversource Energy by 13.5% in the 4th quarter. Private Trust Co. NA now owns 2,107 shares of the utilities provider’s stock worth $130,000 after purchasing an additional 251 shares during the period. Finally, Oakworth Capital Inc. boosted its stake in shares of Eversource Energy by 44.7% during the 4th quarter. Oakworth Capital Inc. now owns 835 shares of the utilities provider’s stock worth $52,000 after buying an additional 258 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Eversource Energy stock traded up $0.30 during trading hours on Friday, hitting $59.01. The company had a trading volume of 1,677,378 shares, compared to its average volume of 1,787,545. The firm has a market cap of $20.79 billion, a PE ratio of -50.01, a PEG ratio of 2.41 and a beta of 0.60. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68. Eversource Energy has a one year low of $52.03 and a one year high of $74.81. The firm has a 50-day moving average of $59.64 and a 200 day moving average of $58.91.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. The firm had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The business’s revenue was down 12.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.41 EPS. On average, sell-side analysts expect that Eversource Energy will post 4.53 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be issued a $0.715 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.86 annualized dividend and a yield of 4.85%. Eversource Energy’s dividend payout ratio is currently -242.37%.

Wall Street Analyst Weigh In

ES has been the subject of a number of recent research reports. Scotiabank reduced their price objective on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Bank of America increased their price objective on shares of Eversource Energy from $50.00 to $61.00 and gave the stock an “underperform” rating in a research note on Wednesday, May 15th. BMO Capital Markets increased their price objective on shares of Eversource Energy from $65.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. Argus reduced their price objective on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 25th. Finally, The Goldman Sachs Group initiated coverage on shares of Eversource Energy in a research note on Wednesday, April 10th. They set a “buy” rating and a $73.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $66.07.

Insider Transactions at Eversource Energy

In other news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the transaction, the vice president now directly owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the transaction, the vice president now directly owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Penelope M. Conner sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $58.75, for a total transaction of $158,625.00. Following the transaction, the executive vice president now directly owns 10,272 shares in the company, valued at $603,480. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

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.