California Public Employees Retirement System Purchases 25,122 Shares of Eversource Energy (NYSE:ES)

California Public Employees Retirement System increased its position in Eversource Energy (NYSE:ES - Free Report) by 1.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,645,702 shares of the utilities provider's stock after buying an additional 25,122 shares during the period. California Public Employees Retirement System owned 0.45% of Eversource Energy worth $94,513,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Wellington Management Group LLP acquired a new stake in shares of Eversource Energy in the 3rd quarter valued at $808,783,000. Norges Bank acquired a new stake in Eversource Energy in the 4th quarter worth approximately $188,838,000. Amundi boosted its position in Eversource Energy by 32.2% during the fourth quarter. Amundi now owns 6,482,546 shares of the utilities provider's stock worth $367,691,000 after purchasing an additional 1,579,818 shares during the period. Vanguard Group Inc. grew its holdings in Eversource Energy by 3.2% during the fourth quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock valued at $2,561,936,000 after purchasing an additional 1,387,072 shares during the last quarter. Finally, National Bank of Canada FI raised its position in shares of Eversource Energy by 446.0% in the third quarter. National Bank of Canada FI now owns 749,736 shares of the utilities provider's stock valued at $51,019,000 after purchasing an additional 612,421 shares during the period. Institutional investors own 79.99% of the company's stock.

Eversource Energy Stock Performance

ES stock traded up $0.59 during midday trading on Wednesday, hitting $62.68. The stock had a trading volume of 1,985,648 shares, compared to its average volume of 2,265,874. The firm has a market capitalization of $23.01 billion, a price-to-earnings ratio of 27.13, a P/E/G ratio of 2.35 and a beta of 0.60. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. The stock has a 50-day simple moving average of $60.58 and a 200 day simple moving average of $61.46. Eversource Energy has a 52 week low of $54.75 and a 52 week high of $69.01.

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Eversource Energy (NYSE:ES - Get Free Report) last issued its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. As a group, equities research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 4th were issued a dividend of $0.7525 per share. This is an increase from Eversource Energy's previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a yield of 4.80%. The ex-dividend date of this dividend was Tuesday, March 4th. Eversource Energy's dividend payout ratio (DPR) is currently 130.30%.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ES. StockNews.com raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Saturday. Guggenheim restated a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Barclays dropped their price objective on Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating on the stock in a research note on Wednesday, January 22nd. Scotiabank cut their price objective on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a research report on Thursday, February 13th. Finally, Jefferies Financial Group lowered their target price on Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and five have issued a buy rating to the stock. According to MarketBeat, Eversource Energy has an average rating of "Hold" and a consensus price target of $67.40.

Insider Buying and Selling at Eversource Energy

In related news, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction dated Wednesday, February 19th. The stock was 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 of the company's stock, valued at $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Jay S. Buth sold 980 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the sale, the vice president now directly owns 24,374 shares in the company, valued at approximately $1,535,318.26. This represents a 3.87 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.41% of the company's stock.

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.