Bank of New York Mellon Corp Decreases Stock Holdings in Eversource Energy (NYSE:ES)

Bank of New York Mellon Corp trimmed its holdings in Eversource Energy (NYSE:ES - Free Report) by 6.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,709,697 shares of the utilities provider's stock after selling 185,431 shares during the period. Bank of New York Mellon Corp owned 0.74% of Eversource Energy worth $155,618,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Brown Brothers Harriman & Co. raised its stake in Eversource Energy by 2.8% in the 3rd 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 during the period. Exchange Traded Concepts LLC increased its holdings in shares of Eversource Energy by 10.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider's stock valued at $107,000 after purchasing an additional 176 shares during the last quarter. UMB Bank n.a. raised its position in shares of Eversource Energy by 38.4% in the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider's stock valued at $41,000 after purchasing an additional 197 shares during the period. Louisiana State Employees Retirement System lifted its stake in shares of Eversource Energy by 1.0% during the 3rd quarter. Louisiana State Employees Retirement System now owns 20,100 shares of the utilities provider's stock worth $1,368,000 after buying an additional 200 shares during the last quarter. Finally, Summit Trail Advisors LLC boosted its holdings in shares of Eversource Energy by 4.6% during the 4th quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider's stock worth $281,000 after buying an additional 216 shares during the period. 79.99% of the stock is currently owned by institutional investors.

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Insider Buying and Selling at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of the 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 transaction, the vice president now directly owns 24,374 shares in the company, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Frederica M. Williams sold 3,092 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the transaction, the insider now directly owns 22,671 shares in the company, valued at $1,411,496.46. This trade represents a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

Several research analysts have weighed in on ES shares. Scotiabank lowered their price target on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a report on Thursday, February 13th. Wells Fargo & Company dropped their price target on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a report on Thursday, February 13th. StockNews.com downgraded Eversource Energy from a "hold" rating to a "sell" rating in a research note on Saturday. Guggenheim reissued a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Finally, Jefferies Financial Group reduced their target price on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating for the company in a research report on Tuesday, January 28th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Eversource Energy has an average rating of "Hold" and an average target price of $67.45.

Eversource Energy Price Performance

ES stock traded down $1.69 during mid-day trading on Tuesday, hitting $60.57. The stock had a trading volume of 1,622,025 shares, compared to its average volume of 2,198,430. The firm has a fifty day simple moving average of $58.91 and a 200 day simple moving average of $62.41. The firm has a market capitalization of $22.22 billion, a P/E ratio of 26.22, 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. Eversource Energy has a 52 week low of $54.75 and a 52 week high of $69.01.

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 for the quarter, beating analysts' consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. As a group, research analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be issued a $0.7525 dividend. This is a positive change from Eversource Energy's previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 annualized dividend and a yield of 4.97%. Eversource Energy's payout ratio is presently 130.30%.

About Eversource Energy

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.