Richardson Financial Services Inc. Sells 215 Shares of Eversource Energy (NYSE:ES)

Richardson Financial Services Inc. trimmed its stake in Eversource Energy (NYSE:ES) by 9.3% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,105 shares of the utilities provider’s stock after selling 215 shares during the period. Richardson Financial Services Inc.’s holdings in Eversource Energy were worth $121,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in ES. Northwestern Mutual Wealth Management Co. increased its position in shares of Eversource Energy by 15.8% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 13,506 shares of the utilities provider’s stock worth $766,000 after purchasing an additional 1,846 shares in the last quarter. B. Riley Wealth Advisors Inc. grew its stake in Eversource Energy by 45.2% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 5,496 shares of the utilities provider’s stock worth $312,000 after buying an additional 1,711 shares during the last quarter. Sanctuary Advisors LLC acquired a new position in Eversource Energy during the 2nd quarter valued at about $961,000. Massmutual Trust Co. FSB ADV raised its stake in Eversource Energy by 14.7% in the third quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider’s stock valued at $90,000 after buying an additional 169 shares during the last quarter. Finally, Czech National Bank boosted its holdings in Eversource Energy by 8.5% in the third quarter. Czech National Bank now owns 72,803 shares of the utilities provider’s stock worth $4,954,000 after acquiring an additional 5,678 shares in the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Up 0.4 %

Shares of ES stock opened at $57.64 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. Eversource Energy has a twelve month low of $52.71 and a twelve month high of $69.01. The stock has a 50 day moving average of $58.55 and a 200 day moving average of $62.84. The stock has a market cap of $21.12 billion, a P/E ratio of -36.71, a P/E/G ratio of 2.19 and a beta of 0.62.

Eversource Energy (NYSE:ES) last posted its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. The firm had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The business’s revenue was up 9.7% compared to the same quarter last year. During the same period in the previous year, the business posted $0.97 EPS. As a group, sell-side analysts expect that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be issued a $0.7525 dividend. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a yield of 5.22%. Eversource Energy’s dividend payout ratio is presently -191.72%.

Analysts Set New Price Targets

Several research firms have recently issued reports on ES. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Scotiabank cut shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and decreased their price target for the stock from $66.00 to $56.00 in a report on Thursday, December 12th. Jefferies Financial Group lowered their price objective 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. BMO Capital Markets cut their target price on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Finally, 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 report on Wednesday, January 22nd. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and an average target price of $67.42.

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.