Trueblood Wealth Management LLC Makes New Investment in Eversource Energy (NYSE:ES)

Trueblood Wealth Management LLC purchased a new position in shares of Eversource Energy (NYSE:ES) during the 4th quarter, HoldingsChannel reports. The institutional investor purchased 4,916 shares of the utilities provider’s stock, valued at approximately $303,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ES. Healthcare of Ontario Pension Plan Trust Fund bought a new position in Eversource Energy in the 1st quarter valued at $1,257,000. Dimensional Fund Advisors LP increased its stake in shares of Eversource Energy by 16.3% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,130,660 shares of the utilities provider’s stock worth $99,716,000 after purchasing an additional 158,844 shares during the last quarter. Vontobel Holding Ltd. lifted its stake in Eversource Energy by 8.5% in the first quarter. Vontobel Holding Ltd. now owns 7,816 shares of the utilities provider’s stock valued at $693,000 after purchasing an additional 613 shares during the last quarter. Sei Investments Co. grew its holdings in Eversource Energy by 1.5% during the first quarter. Sei Investments Co. now owns 153,081 shares of the utilities provider’s stock valued at $13,510,000 after purchasing an additional 2,219 shares during the period. Finally, Allianz Asset Management GmbH raised its stake in shares of Eversource Energy by 76.9% in the first quarter. Allianz Asset Management GmbH now owns 133,385 shares of the utilities provider’s stock valued at $11,763,000 after buying an additional 57,995 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Up 1.3 %

ES stock traded up $0.79 during trading on Thursday, hitting $59.77. 1,918,366 shares of the stock traded hands, compared to its average volume of 3,259,113. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. The stock has a market cap of $20.96 billion, a price-to-earnings ratio of -47.17, a price-to-earnings-growth ratio of 2.97 and a beta of 0.58. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $81.36. The firm’s 50 day moving average is $56.89 and its two-hundred day moving average is $58.10.

Eversource Energy (NYSE:ES) last issued its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.02). Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The business had revenue of $2.69 billion for the quarter, compared to analysts’ expectations of $3 billion. During the same quarter in the prior year, the business posted $0.92 earnings per share. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, sell-side analysts anticipate that Eversource Energy will post 4.55 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Tuesday, March 5th will be issued a $0.715 dividend. The ex-dividend date of this dividend is Monday, March 4th. This represents a $2.86 annualized dividend and a yield of 4.79%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. Eversource Energy’s dividend payout ratio (DPR) is currently -226.98%.

Insider Buying and Selling at Eversource Energy

In other news, insider Faasen William C. Van sold 2,714 shares of the stock in a transaction that occurred on Thursday, January 18th. The shares were sold at an average price of $54.50, for a total value of $147,913.00. Following the transaction, the insider now owns 19,619 shares in the company, valued at approximately $1,069,235.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Faasen William C. Van sold 2,714 shares of the business’s stock in a transaction that occurred on Thursday, January 18th. The stock was sold at an average price of $54.50, for a total value of $147,913.00. Following the transaction, the insider now directly owns 19,619 shares of the company’s stock, valued at approximately $1,069,235.50. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the transaction, 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. In the last ninety days, insiders sold 6,250 shares of company stock worth $352,014. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on ES. StockNews.com raised shares of Eversource Energy to a “sell” rating in a report on Thursday. Argus cut their price objective on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a report on Monday. BMO Capital Markets lifted their price target on Eversource Energy from $63.00 to $64.00 and gave the stock a “market perform” rating in a research note on Thursday, February 15th. Mizuho raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $54.00 to $62.00 in a research note on Thursday, February 15th. Finally, Citigroup lifted their price target on Eversource Energy from $58.00 to $62.00 and gave the stock a “neutral” rating in a research note on Thursday, February 15th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $65.08.

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.