National Pension Service Sells 43,174 Shares of Eversource Energy (NYSE:ES)

National Pension Service lessened its position in shares of Eversource Energy (NYSE:ES - Free Report) by 8.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 481,305 shares of the utilities provider's stock after selling 43,174 shares during the quarter. National Pension Service owned approximately 0.13% of Eversource Energy worth $27,641,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in ES. Brown Brothers Harriman & Co. boosted its holdings in shares of Eversource Energy by 2.8% during the third quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider's stock worth $418,000 after purchasing an additional 166 shares during the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of 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 purchasing an additional 176 shares during the period. UMB Bank n.a. increased its position in Eversource Energy by 38.4% during the 4th quarter. UMB Bank n.a. now owns 710 shares of the utilities provider's stock worth $41,000 after purchasing an additional 197 shares in the last quarter. Louisiana State Employees Retirement System grew its stake in Eversource Energy by 1.0% during the third 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 period. Finally, Summit Trail Advisors LLC raised its stake in shares of Eversource Energy by 4.6% in the 4th quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider's stock valued at $281,000 after acquiring an additional 216 shares during the period. Institutional investors and hedge funds own 79.99% of the company's stock.

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Eversource Energy Price Performance

Shares of ES traded down $0.92 during midday trading on Wednesday, reaching $58.83. The stock had a trading volume of 2,119,638 shares, compared to its average volume of 2,200,286. The firm's 50 day moving average price is $58.99 and its 200-day moving average price is $62.35. Eversource Energy has a 52 week low of $54.75 and a 52 week high of $69.01. The company has a market capitalization of $21.58 billion, a P/E ratio of 25.47, a P/E/G ratio of 2.35 and a beta of 0.60. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly 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%. On average, analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm 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 dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 5.12%. This is a boost from Eversource Energy's previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. Eversource Energy's dividend payout ratio (DPR) is presently 130.30%.

Insiders Place Their Bets

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 transaction of $192,507.92. Following the sale, the insider now owns 22,671 shares in the company, 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 legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jay S. Buth sold 980 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the transaction, the vice president now directly owns 24,374 shares of the company's stock, valued at $1,535,318.26. This represents a 3.87 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on ES. StockNews.com cut shares of Eversource Energy from a "hold" rating to a "sell" rating in a research report on Saturday. Barclays dropped their target price on shares of Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 22nd. Wells Fargo & Company reduced 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 report on Thursday, February 13th. Guggenheim reiterated a "buy" rating on shares of Eversource Energy in a research note on Monday, February 10th. Finally, Jefferies Financial Group cut their price objective on Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a research note on Tuesday, January 28th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $67.45.

Eversource Energy Company 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.