Sumitomo Mitsui Trust Holdings Inc. Sells 17,237 Shares of Eversource Energy (NYSE:ES)

Sumitomo Mitsui Trust Holdings Inc. trimmed its holdings in Eversource Energy (NYSE:ES) by 1.9% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 875,561 shares of the utilities provider’s stock after selling 17,237 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.25% of Eversource Energy worth $54,040,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC boosted its stake in Eversource Energy by 101,201.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,617,104 shares of the utilities provider’s stock worth $1,057,818,000 after purchasing an additional 12,604,649 shares during the period. Wells Fargo & Company MN raised its holdings in shares of Eversource Energy by 1.7% during the 2nd quarter. Wells Fargo & Company MN now owns 7,863,718 shares of the utilities provider’s stock worth $557,695,000 after acquiring an additional 128,215 shares in the last quarter. Geode Capital Management LLC raised its holdings in shares of Eversource Energy by 1.7% during the 1st quarter. Geode Capital Management LLC now owns 7,548,700 shares of the utilities provider’s stock worth $589,477,000 after acquiring an additional 124,871 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Eversource Energy by 1.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 7,296,972 shares of the utilities provider’s stock worth $404,856,000 after acquiring an additional 134,492 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Eversource Energy by 2.5% during the 3rd quarter. Legal & General Group Plc now owns 6,628,663 shares of the utilities provider’s stock worth $385,457,000 after acquiring an additional 163,053 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eversource Energy

In other news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction on Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the transaction, the insider now directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on ES shares. Argus decreased their price objective on Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, March 25th. BMO Capital Markets upped their price objective on Eversource Energy from $63.00 to $64.00 and gave the stock a “market perform” rating in a report on Thursday, February 15th. Barclays decreased their price target on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a report on Monday, January 22nd. The Goldman Sachs Group assumed coverage on Eversource Energy in a report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price target on the stock. Finally, Citigroup increased their price target on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $66.08.

Eversource Energy Trading Up 0.8 %

Shares of Eversource Energy stock opened at $58.99 on Friday. The stock’s fifty day moving average is $58.50 and its two-hundred day moving average is $57.78. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 1.66. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $79.92.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.02). The business had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3 billion. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The business’s revenue was down 11.1% compared to the same quarter last year. During the same period last year, the company earned $0.92 EPS. Sell-side analysts predict that Eversource Energy will post 4.52 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Shareholders of record on Tuesday, March 5th were given a $0.715 dividend. This represents a $2.86 annualized dividend and a yield of 4.85%. The ex-dividend date was Monday, March 4th. This is an increase from Eversource Energy’s previous quarterly dividend of $0.68. Eversource Energy’s dividend payout ratio is -226.98%.

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.