Redpoint Investment Management Pty Ltd Cuts Holdings in Eversource Energy (ES)

Redpoint Investment Management Pty Ltd cut its holdings in shares of Eversource Energy (NYSE:ES) by 8.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 34,850 shares of the utilities provider’s stock after selling 3,243 shares during the period. Redpoint Investment Management Pty Ltd’s holdings in Eversource Energy were worth $2,267,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in the business. Welch & Forbes LLC grew its stake in shares of Eversource Energy by 43.1% during the 4th quarter. Welch & Forbes LLC now owns 9,775 shares of the utilities provider’s stock worth $636,000 after acquiring an additional 2,944 shares in the last quarter. Chicago Equity Partners LLC bought a new position in shares of Eversource Energy during the 4th quarter worth approximately $246,000. Wade G W & Inc. grew its stake in shares of Eversource Energy by 37.3% during the 4th quarter. Wade G W & Inc. now owns 76,762 shares of the utilities provider’s stock worth $4,993,000 after acquiring an additional 20,864 shares in the last quarter. Certified Advisory Corp grew its stake in shares of Eversource Energy by 114.8% during the 4th quarter. Certified Advisory Corp now owns 421 shares of the utilities provider’s stock worth $27,000 after acquiring an additional 225 shares in the last quarter. Finally, Howe & Rusling Inc. grew its stake in shares of Eversource Energy by 74.2% during the 4th quarter. Howe & Rusling Inc. now owns 1,498 shares of the utilities provider’s stock worth $97,000 after acquiring an additional 638 shares in the last quarter. Institutional investors own 74.24% of the company’s stock.

ES has been the subject of several research reports. Barclays set a $66.00 price target on shares of Eversource Energy and gave the stock a “hold” rating in a research note on Saturday, November 17th. Guggenheim reaffirmed a “buy” rating and set a $72.00 price target on shares of Eversource Energy in a research note on Monday, January 7th. Zacks Investment Research cut shares of Eversource Energy from a “buy” rating to a “hold” rating in a research note on Wednesday, January 16th. ValuEngine cut shares of Eversource Energy from a “buy” rating to a “hold” rating in a research note on Friday, November 2nd. Finally, Scotiabank cut shares of Eversource Energy from a “sector perform” rating to an “underperform” rating in a research note on Wednesday, December 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and an average price target of $67.36.

NYSE ES opened at $70.15 on Tuesday. The company has a market capitalization of $22.20 billion, a PE ratio of 22.56, a P/E/G ratio of 3.46 and a beta of 0.32. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.54. Eversource Energy has a 12 month low of $52.76 and a 12 month high of $70.53.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th will be issued a $0.535 dividend. This represents a $2.14 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend is Monday, March 4th. This is an increase from Eversource Energy’s previous quarterly dividend of $0.51. Eversource Energy’s dividend payout ratio is presently 64.95%.

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About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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