Zurcher Kantonalbank Zurich Cantonalbank Reduces Position in Eversource Energy (NYSE:ES)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its holdings in Eversource Energy (NYSE:ES - Free Report) by 8.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 363,150 shares of the utilities provider's stock after selling 31,914 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.10% of Eversource Energy worth $20,856,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. OFI Invest Asset Management bought a new position in shares of Eversource Energy in the fourth quarter worth about $35,000. Amundi grew its stake in Eversource Energy by 32.2% in the 4th quarter. Amundi now owns 6,482,546 shares of the utilities provider's stock worth $367,691,000 after acquiring an additional 1,579,818 shares in the last quarter. Generali Investments CEE investicni spolecnost a.s. bought a new position in Eversource Energy in the 4th quarter worth about $149,000. Edgestream Partners L.P. raised its stake in shares of Eversource Energy by 25.3% during the fourth quarter. Edgestream Partners L.P. now owns 113,443 shares of the utilities provider's stock valued at $6,515,000 after acquiring an additional 22,909 shares in the last quarter. Finally, Destination Wealth Management raised its stake in shares of Eversource Energy by 5.6% during the fourth quarter. Destination Wealth Management now owns 5,000 shares of the utilities provider's stock valued at $287,000 after acquiring an additional 263 shares in the last quarter. 79.99% of the stock is owned by institutional investors.

Eversource Energy Trading Down 1.9 %

NYSE ES opened at $60.62 on Wednesday. Eversource Energy has a 52 week low of $54.75 and a 52 week high of $69.01. The company has a 50 day moving average price of $59.24 and a 200 day moving average price of $62.15. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The firm has a market cap of $22.23 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60.

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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 (EPS) for the quarter, topping analysts' consensus estimates 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, sell-side analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be paid a $0.7525 dividend. The ex-dividend date is Tuesday, March 4th. This is a boost from Eversource Energy's previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a yield of 4.97%. Eversource Energy's dividend payout ratio (DPR) is 130.30%.

Analysts Set New Price Targets

ES has been the topic of several research reports. Jefferies Financial Group reduced 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. Guggenheim restated a "buy" rating on shares of Eversource Energy in a research note on Monday, February 10th. StockNews.com downgraded Eversource Energy from a "hold" rating to a "sell" rating in a report on Saturday, March 1st. Wells Fargo & Company dropped their target price on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a report on Thursday, February 13th. Finally, Scotiabank reduced their price target on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a report on Thursday, February 13th. Three investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $67.45.

Insiders Place Their Bets

In other news, VP Jay S. Buth sold 980 shares of the business's 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 sale, the vice president now directly owns 24,374 shares of the company's stock, valued at $1,535,318.26. The trade was a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available 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 stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the transaction, the insider now owns 22,671 shares of the company's stock, valued at $1,411,496.46. This trade represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company's stock.

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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