NFJ Investment Group LLC trimmed its holdings in Eversource Energy (NYSE:ES - Free Report) by 4.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,087,249 shares of the utilities provider's stock after selling 55,135 shares during the quarter. Eversource Energy accounts for 2.0% of NFJ Investment Group LLC's portfolio, making the stock its 7th largest holding. NFJ Investment Group LLC owned approximately 0.30% of Eversource Energy worth $62,441,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Wellington Management Group LLP increased its holdings in Eversource Energy by 38.6% in the 4th quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock valued at $945,893,000 after buying an additional 4,585,232 shares during the period. Norges Bank bought a new stake in Eversource Energy in the fourth quarter valued at about $188,838,000. Amundi raised its position in Eversource Energy by 32.2% in 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 in the last quarter. Vanguard Group Inc. boosted 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 in the last quarter. Finally, Magellan Asset Management Ltd grew its stake in shares of Eversource Energy by 15.9% in the 4th quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider's stock valued at $371,829,000 after purchasing an additional 890,514 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.
Eversource Energy Stock Performance
Shares of Eversource Energy stock traded down $1.40 during trading on Monday, hitting $56.04. 374,747 shares of the stock were exchanged, compared to its average volume of 2,327,575. 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 company has a fifty day moving average price of $60.22 and a 200-day moving average price of $60.48. The stock has a market capitalization of $20.57 billion, a price-to-earnings ratio of 24.26, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $69.01.
Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping 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, equities analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.
Eversource Energy Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 4th were paid a $0.7525 dividend. This is a boost from Eversource Energy's previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a dividend yield of 5.37%. The ex-dividend date of this dividend was Tuesday, March 4th. Eversource Energy's payout ratio is 130.30%.
Insider Buying and Selling
In other Eversource Energy news, VP Jay S. Buth sold 980 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were 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 in the company, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 approximately $1,411,496.46. This represents a 12.00 % decrease in their ownership of the stock. 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
ES has been the subject of a number of research analyst reports. Barclays cut 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 note on Wednesday, January 22nd. 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 report on Tuesday, January 28th. StockNews.com raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Monday, April 14th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $58.00 price target (down from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Finally, Scotiabank dropped their target price on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a research report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $65.78.
Get Our Latest Stock Report on ES
About Eversource Energy
(
Free Report)
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.
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