Eversource Energy $ES Stock Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. reduced its stake in Eversource Energy (NYSE:ES) by 4.6% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 867,508 shares of the utilities provider’s stock after selling 41,760 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in Eversource Energy were worth $55,659,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. acquired a new position in Eversource Energy in the 3rd quarter valued at about $8,215,000. Vise Technologies Inc. lifted its holdings in Eversource Energy by 29.7% in the 3rd quarter. Vise Technologies Inc. now owns 24,138 shares of the utilities provider’s stock valued at $1,549,000 after purchasing an additional 5,524 shares in the last quarter. MGO One Seven LLC boosted its stake in shares of Eversource Energy by 23.1% during the 3rd quarter. MGO One Seven LLC now owns 10,747 shares of the utilities provider’s stock worth $690,000 after purchasing an additional 2,014 shares during the last quarter. Aprio Wealth Management LLC boosted its stake in shares of Eversource Energy by 37.5% during the 3rd quarter. Aprio Wealth Management LLC now owns 9,628 shares of the utilities provider’s stock worth $618,000 after purchasing an additional 2,625 shares during the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of Eversource Energy during the 3rd quarter worth about $687,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on ES. HSBC started coverage on shares of Eversource Energy in a research report on Thursday, October 22nd. They issued a “hold” rating and a $70.00 price objective for the company. Citigroup started coverage on shares of Eversource Energy in a research note on Monday, July 27th. They set a “hold” rating and a $81.00 price objective on the stock. Mizuho raised their target price on shares of Eversource Energy from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. JPMorgan Chase & Co. decreased their target price on shares of Eversource Energy from $73.00 to $68.00 and set an “underweight” rating on the stock in a research report on Monday, October 19th. Finally, BMO Capital Markets lowered their target price on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $72.91.

Eversource Energy Trading Down 0.9%

ES stock opened at $68.96 on Wednesday. The company has a market cap of $25.97 billion, a price-to-earnings ratio of 14.16, a PEG ratio of 3.03 and a beta of 0.66. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.63. The business has a fifty day simple moving average of $67.38 and a 200-day simple moving average of $70.02. Eversource Energy has a 52 week low of $62.72 and a 52 week high of $76.57.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend was Monday, September 21st. Eversource Energy’s payout ratio is 81.61%.

Eversource Energy Profile

Eversource Energy (NYSE: ES) is a New England-based energy delivery company that provides electric and natural gas utility services. Through its regulated operating companies, it delivers electricity to residential, commercial and industrial customers and distributes natural gas to homes and businesses.

The company owns and operates electric transmission and distribution infrastructure, natural gas distribution systems and related utility facilities. Its electric operations include Connecticut Light and Power, NSTAR Electric and Public Service Company of New Hampshire, while its natural gas operations include several utilities serving customers in Connecticut and Massachusetts.