Pictet Asset Management Holding SA Sells 1,003,248 Shares of Eversource Energy (NYSE:ES)

Pictet Asset Management Holding SA lowered its stake in Eversource Energy (NYSE:ES - Free Report) by 77.1% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 297,541 shares of the utilities provider's stock after selling 1,003,248 shares during the quarter. Pictet Asset Management Holding SA owned about 0.08% of Eversource Energy worth $17,088,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in ES. Exchange Traded Concepts LLC increased its stake in Eversource Energy by 10.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider's stock worth $107,000 after buying an additional 176 shares in the last quarter. UMB Bank n.a. boosted its stake 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 worth $41,000 after acquiring an additional 197 shares during the period. Summit Trail Advisors LLC grew its position 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 purchasing an additional 216 shares in the last quarter. Keybank National Association OH raised its stake in Eversource Energy by 2.6% during the 4th quarter. Keybank National Association OH now owns 9,090 shares of the utilities provider's stock valued at $522,000 after purchasing an additional 233 shares during the period. Finally, Whittier Trust Co. lifted its holdings in Eversource Energy by 3.3% in the 4th quarter. Whittier Trust Co. now owns 7,732 shares of the utilities provider's stock worth $444,000 after purchasing an additional 245 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ES has been the subject of a number of research analyst reports. StockNews.com raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Saturday. 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 decreased their price target on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a research note on Tuesday, January 28th. 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, Guggenheim reiterated a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and five have given a buy rating to the company. According to MarketBeat, Eversource Energy currently has an average rating of "Hold" and an average target price of $67.40.

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Eversource Energy Trading Up 0.1 %

Shares of NYSE ES opened at $62.15 on Wednesday. Eversource Energy has a 1-year low of $54.75 and a 1-year high of $69.01. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76. The business's 50 day moving average is $60.44 and its two-hundred day moving average is $61.45. The stock has a market capitalization of $22.81 billion, a P/E ratio of 26.90, a PEG ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES - Get Free Report) last released its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share 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%. As a group, research analysts expect 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 was paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th were issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.84%. The ex-dividend date was Tuesday, March 4th. This is a positive change from Eversource Energy's previous quarterly dividend of $0.72. Eversource Energy's dividend payout ratio (DPR) is 130.30%.

Insider Buying and Selling

In other news, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction 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 completion of the sale, the insider now directly owns 22,671 shares in the company, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Jay S. Buth sold 980 shares of the company's 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 completion of the transaction, the vice president now owns 24,374 shares in the company, valued at approximately $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. 0.41% of the stock is owned by corporate insiders.

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.

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