PNC Financial Services Group Inc. Sells 12,639 Shares of Eversource Energy (NYSE:ES)

PNC Financial Services Group Inc. trimmed its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 2.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 430,183 shares of the utilities provider's stock after selling 12,639 shares during the period. PNC Financial Services Group Inc. owned about 0.12% of Eversource Energy worth $24,705,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of ES. Kestra Investment Management LLC acquired a new stake in Eversource Energy in the 4th quarter valued at about $29,000. Assetmark Inc. lifted its stake in Eversource Energy by 99.2% in the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock valued at $29,000 after purchasing an additional 254 shares during the last quarter. Brooklyn Investment Group acquired a new stake in Eversource Energy in the 3rd quarter valued at about $31,000. Ashton Thomas Securities LLC acquired a new stake in Eversource Energy in the 3rd quarter valued at about $32,000. Finally, Venturi Wealth Management LLC lifted its stake in Eversource Energy by 104.5% in the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock valued at $34,000 after purchasing an additional 301 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ES has been the subject of several recent analyst reports. StockNews.com upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Thursday. Jefferies Financial Group cut 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 note on Tuesday, January 28th. Guggenheim reissued a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Barclays lowered their price target on shares of Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating on the stock in a report on Wednesday, January 22nd. Finally, 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. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $67.45.

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Eversource Energy Stock Performance

Shares of ES traded up $1.39 during mid-day trading on Friday, hitting $61.50. 1,851,850 shares of the company's stock were exchanged, compared to its average volume of 2,202,435. Eversource Energy has a 52 week low of $54.75 and a 52 week high of $69.01. The stock's 50-day simple moving average is $59.34 and its 200-day simple moving average is $62.12. The firm has a market cap of $22.57 billion, a price-to-earnings ratio of 26.62, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping the consensus estimate 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, equities research analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.89%. This is a boost from Eversource Energy's previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy's dividend payout ratio (DPR) is 130.30%.

Insider Activity at Eversource Energy

In other news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction on Friday, February 21st. The shares were sold at an average price of $62.99, for a total transaction of $61,730.20. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 transaction, the insider now owns 22,671 shares in the company, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

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.