State of Tennessee Department of Treasury Has $7.82 Million Stock Holdings in Eversource Energy (NYSE:ES)

State of Tennessee Department of Treasury decreased its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 3.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 136,244 shares of the utilities provider's stock after selling 5,046 shares during the period. State of Tennessee Department of Treasury's holdings in Eversource Energy were worth $7,824,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of Eversource Energy by 33.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider's stock valued at $2,306,000 after acquiring an additional 9,981 shares during the period. Verity & Verity LLC acquired a new position in Eversource Energy during the 4th quarter valued at about $744,000. Nordea Investment Management AB lifted its position in Eversource Energy by 41.7% during the 4th quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider's stock valued at $99,554,000 after purchasing an additional 510,582 shares during the period. Everett Harris & Co. CA boosted its stake in shares of Eversource Energy by 125.2% in the 4th quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider's stock valued at $465,000 after purchasing an additional 4,500 shares during the last quarter. Finally, Nisa Investment Advisors LLC grew its position in shares of Eversource Energy by 12.2% during the 4th quarter. Nisa Investment Advisors LLC now owns 73,096 shares of the utilities provider's stock worth $4,198,000 after buying an additional 7,967 shares during the period. Institutional investors own 79.99% of the company's stock.

Insider Transactions at Eversource Energy

In related news, VP Jay S. Buth sold 980 shares of the 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 completion of the transaction, the vice president now owns 24,374 shares in the company, valued at approximately $1,535,318.26. This represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 of the company's stock, 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 owned by insiders.

Eversource Energy Trading Up 1.2 %

NYSE:ES opened at $58.63 on Friday. 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 simple moving average is $59.93 and its 200-day simple moving average is $60.34. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01. The stock has a market capitalization of $21.52 billion, a PE ratio of 25.38, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58.

Eversource Energy (NYSE:ES - Get Free Report) last announced 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%. Sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently declared 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 dividend on an annualized basis and a dividend yield of 5.13%. This is a positive change from Eversource Energy's previous quarterly dividend of $0.72. The ex-dividend date was Tuesday, March 4th. Eversource Energy's payout ratio is 130.30%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. Scotiabank reduced their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a research note on Thursday, February 13th. Jefferies Financial Group reduced their price target on Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 28th. StockNews.com upgraded Eversource Energy from a "sell" rating to a "hold" rating in a report on Monday, April 14th. Guggenheim restated a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $58.00 price target (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned 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.

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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