Riverview Capital Advisers LLC Invests $4.96 Million in Eversource Energy (NYSE:ES)

Riverview Capital Advisers LLC purchased a new stake in Eversource Energy (NYSE:ES) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 87,528 shares of the utilities provider’s stock, valued at approximately $4,964,000. Eversource Energy accounts for approximately 1.7% of Riverview Capital Advisers LLC’s portfolio, making the stock its 17th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ClearBridge Investments Ltd purchased a new stake in shares of Eversource Energy during the first quarter worth approximately $156,093,000. Norges Bank acquired a new position in Eversource Energy during the fourth quarter worth about $149,906,000. Zimmer Partners LP grew its stake in Eversource Energy by 730.4% during the 1st quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock valued at $151,642,000 after acquiring an additional 2,231,585 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Eversource Energy by 65.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after purchasing an additional 1,524,341 shares in the last quarter. Finally, M&G Plc acquired a new position in shares of Eversource Energy during the 1st quarter worth approximately $83,539,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of ES opened at $67.47 on Thursday. The stock has a market capitalization of $23.77 billion, a P/E ratio of -57.18, a P/E/G ratio of 2.59 and a beta of 0.61. The company’s fifty day moving average is $65.35 and its two-hundred day moving average is $61.22. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $69.01.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.00 EPS. On average, sell-side analysts predict that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 30th. Investors of record on Monday, September 23rd will be issued a dividend of $0.715 per share. The ex-dividend date of this dividend is Monday, September 23rd. This represents a $2.86 annualized dividend and a yield of 4.24%. Eversource Energy’s dividend payout ratio is presently -242.37%.

Wall Street Analysts Forecast Growth

ES has been the topic of a number of recent research reports. Bank of America boosted their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley upped their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Wells Fargo & Company increased their target price on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. BMO Capital Markets reduced their target price on shares of Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a report on Monday, August 19th. Finally, Barclays upped their price target on Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company. According to data from MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and a consensus target price of $68.93.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $591,596. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate 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.