Mitsubishi UFJ Trust & Banking Corp Trims Stake in Eversource Energy $ES

Mitsubishi UFJ Trust & Banking Corp cut its position in shares of Eversource Energy (NYSE:ES) by 9.1% in the third quarter, Holdings Channel.com reports. The firm owned 2,084,468 shares of the utilities provider’s stock after selling 209,111 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp’s holdings in Eversource Energy were worth $148,289,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Empowered Funds LLC lifted its stake in Eversource Energy by 8.9% in the first quarter. Empowered Funds LLC now owns 16,149 shares of the utilities provider’s stock worth $1,003,000 after purchasing an additional 1,319 shares during the last quarter. Woodline Partners LP raised its holdings in shares of Eversource Energy by 40.8% in the first quarter. Woodline Partners LP now owns 30,988 shares of the utilities provider’s stock worth $1,925,000 after buying an additional 8,984 shares during the period. Acadian Asset Management LLC lifted its stake in shares of Eversource Energy by 115.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,497 shares of the utilities provider’s stock worth $92,000 after acquiring an additional 801 shares during the last quarter. Wealth Enhancement Advisory Services LLC boosted its holdings in Eversource Energy by 36.1% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 64,544 shares of the utilities provider’s stock valued at $4,166,000 after acquiring an additional 17,118 shares during the period. Finally, Assenagon Asset Management S.A. boosted its holdings in Eversource Energy by 31.4% during the 2nd quarter. Assenagon Asset Management S.A. now owns 18,315 shares of the utilities provider’s stock valued at $1,165,000 after acquiring an additional 4,373 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Insider Transactions at Eversource Energy

In related news, EVP James W. Hunt III sold 4,129 shares of the business’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the transaction, the executive vice president owned 32,415 shares of the company’s stock, valued at $2,358,839.55. The trade was a 11.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.41% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ES. Scotiabank reduced their target price on Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a research note on Thursday, November 20th. Mizuho reaffirmed a “neutral” rating and issued a $68.00 price target (down previously from $81.00) on shares of Eversource Energy in a research note on Thursday, November 20th. Janney Montgomery Scott upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price objective for the company in a report on Monday, November 24th. BMO Capital Markets dropped their target price on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a research note on Thursday, November 6th. Finally, TD Cowen began coverage on shares of Eversource Energy in a research report on Thursday, October 16th. They set a “hold” rating and a $76.00 target price on the stock. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and a consensus price target of $71.50.

Eversource Energy Stock Performance

ES stock opened at $69.54 on Friday. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $75.25. The business has a 50-day moving average price of $67.79 and a 200 day moving average price of $68.05. The company has a market capitalization of $26.09 billion, a P/E ratio of 19.05, a PEG ratio of 2.39 and a beta of 0.76. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64.

Eversource Energy (NYSE:ES) last issued its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.07. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The firm’s quarterly revenue was up 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.13 EPS. As a group, equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were paid a dividend of $0.7525 per share. The ex-dividend date was Wednesday, December 17th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.3%. Eversource Energy’s dividend payout ratio (DPR) is currently 82.47%.

Eversource Energy Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.