Trueblood Wealth Management LLC Takes $303,000 Position in Eversource Energy (NYSE:ES)

Trueblood Wealth Management LLC bought a new stake in Eversource Energy (NYSE:ES) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 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 bought and sold shares of ES. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Eversource Energy during the 1st quarter worth approximately $1,257,000. Dimensional Fund Advisors LP increased its stake in Eversource Energy by 16.3% in the first quarter. Dimensional Fund Advisors LP now owns 1,130,660 shares of the utilities provider’s stock valued at $99,716,000 after acquiring an additional 158,844 shares during the last quarter. Vontobel Holding Ltd. boosted 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 buying an additional 613 shares in the last quarter. Sei Investments Co. lifted its holdings in shares of Eversource Energy by 1.5% in the first quarter. Sei Investments Co. now owns 153,081 shares of the utilities provider’s stock worth $13,510,000 after acquiring an additional 2,219 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in shares of Eversource Energy by 76.9% during the 1st quarter. Allianz Asset Management GmbH now owns 133,385 shares of the utilities provider’s stock valued at $11,763,000 after purchasing an additional 57,995 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Up 1.3 %

NYSE ES traded up $0.79 on Thursday, reaching $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 quick ratio of 0.59 and a current ratio of 0.67. The company has a market cap of $20.96 billion, a price-to-earnings ratio of -47.17, a PEG ratio of 2.97 and a beta of 0.58. The company has a fifty day moving average price of $56.89 and a 200-day moving average price of $58.10. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $81.36.

Eversource Energy (NYSE:ES) last posted its quarterly 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 during the quarter, compared to analysts’ expectations of $3 billion. During the same period in the previous year, the company posted $0.92 earnings per share. Eversource Energy’s revenue for the quarter was down 11.1% compared to the same quarter last year. As a group, research analysts forecast that Eversource Energy will post 4.55 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th will be issued a dividend of $0.715 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend is Monday, March 4th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.79%. Eversource Energy’s dividend payout ratio is presently -226.98%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on ES shares. Citigroup boosted their price objective on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Argus lowered their target price on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a report on Monday. Wells Fargo & Company upped their price objective on shares of Eversource Energy from $67.00 to $69.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 9th. Mizuho upgraded Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $54.00 to $62.00 in a research note on Thursday, February 15th. Finally, JPMorgan Chase & Co. lifted their price target on Eversource Energy from $68.00 to $69.00 and gave the stock a “neutral” rating in a report on Wednesday, November 29th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $65.08.

Insider Buying and Selling

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the firm’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 sale, the insider now owns 10,485 shares of the company’s stock, valued at $609,388.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction 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 transaction, the insider now owns 10,485 shares in the company, valued at $609,388.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 6,250 shares of company stock worth $352,014. 0.41% of the stock is owned by 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.