Nuveen Asset Management LLC Sells 152,501 Shares of Eversource Energy (NYSE:ES)

Nuveen Asset Management LLC lowered its position in shares of Eversource Energy (NYSE:ES - Free Report) by 2.6% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,725,756 shares of the utilities provider's stock after selling 152,501 shares during the quarter. Nuveen Asset Management LLC owned approximately 1.56% of Eversource Energy worth $328,830,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in ES. Wellington Management Group LLP lifted its stake in Eversource Energy by 38.6% during the fourth quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock worth $945,893,000 after purchasing an additional 4,585,232 shares in the last quarter. Norges Bank purchased a new position in Eversource Energy in the fourth quarter valued at $188,838,000. Amundi boosted its holdings in Eversource Energy by 32.2% in the fourth quarter. Amundi now owns 6,482,546 shares of the utilities provider's stock valued at $367,691,000 after purchasing an additional 1,579,818 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Eversource Energy by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock valued at $2,561,936,000 after buying an additional 1,387,072 shares during the last quarter. Finally, Magellan Asset Management Ltd increased its position in shares of Eversource Energy by 15.9% during the fourth quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider's stock worth $371,829,000 after purchasing an additional 890,514 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Insider Activity

In related news, insider Frederica M. Williams sold 3,092 shares of the company'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 directly owns 22,671 shares in the company, valued at approximately $1,411,496.46. This represents a 12.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 completion of the sale, the vice president now directly owns 24,374 shares in the company, valued at $1,535,318.26. This trade represents a 3.87% decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on ES shares. Barclays decreased their price target on shares of Eversource Energy from $72.00 to $69.00 and set an "equal weight" rating for the company in a research note on Wednesday, January 22nd. Scotiabank lowered their price target 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. Guggenheim restated a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. Jefferies Financial Group decreased their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating on the stock in a research report on Tuesday, January 28th. Finally, JPMorgan Chase & Co. restated an "underweight" rating and set a $58.00 target price (down from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Three equities research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat.com, Eversource Energy has a consensus rating of "Hold" and an average target price of $65.78.

Eversource Energy Price Performance

ES stock traded up $2.37 during trading hours on Tuesday, hitting $65.90. 1,386,508 shares of the stock traded hands, compared to its average volume of 2,409,866. The stock has a 50-day simple moving average of $59.66 and a 200 day simple moving average of $59.77. The company has a market cap of $24.21 billion, a P/E ratio of 28.52, a P/E/G ratio of 2.35 and a beta of 0.61. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a one year low of $52.28 and a one year high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last released its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $1.50. The company had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.65 billion. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. The company's revenue for the quarter was up 23.6% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.49 earnings per share. Equities analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be given a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 4.57%. The ex-dividend date is Thursday, May 15th. Eversource Energy's payout ratio is currently 129.74%.

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.