Mitsubishi UFJ Trust & Banking Corp Trims Holdings in Eversource Energy (NYSE:ES)

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Eversource Energy (NYSE:ES) by 20.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,446,688 shares of the utilities provider’s stock after selling 864,045 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Eversource Energy were worth $197,943,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ES. Brown Brothers Harriman & Co. raised its holdings in Eversource Energy by 2.8% in the third quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider’s stock valued at $418,000 after acquiring an additional 166 shares in the last quarter. Exchange Traded Concepts LLC lifted its position in Eversource Energy by 10.5% during the 4th quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 176 shares during the period. UMB Bank n.a. grew its position in Eversource Energy by 38.4% in the 4th quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock valued at $41,000 after buying an additional 197 shares during the last quarter. Summit Trail Advisors LLC increased its stake in shares of Eversource Energy by 4.6% during the fourth quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock worth $281,000 after acquiring an additional 216 shares during the period. Finally, Fisher Asset Management LLC lifted its holdings in shares of Eversource Energy by 1.9% in the 3rd quarter. Fisher Asset Management LLC now owns 12,306 shares of the utilities provider’s stock valued at $837,000 after buying an additional 232 shares during the period. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Down 0.1 %

ES opened at $60.90 on Tuesday. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01. The firm has a market cap of $22.35 billion, a price-to-earnings ratio of 26.36, a PEG ratio of 2.35 and a beta of 0.60. The firm’s 50-day simple moving average is $60.04 and its 200-day simple moving average is $61.75. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. Equities research analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be issued a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.94%. The ex-dividend date is Tuesday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio is 130.30%.

Insider Buying and Selling at Eversource Energy

In other news, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the transaction, the insider now directly owns 22,671 shares in the company, valued at approximately $1,411,496.46. The trade was a 12.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Jay S. Buth sold 980 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the sale, the vice president now owns 24,374 shares of the company’s stock, valued at $1,535,318.26. The trade was a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ES. Barclays cut their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Scotiabank dropped their target price on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research note on Thursday, February 13th. Wells Fargo & Company cut their price target on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research note on Thursday, February 13th. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a report on Friday. Finally, Jefferies Financial Group lowered their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and an average price target of $67.45.

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.