Eversource Energy $ES Position Trimmed by Sumitomo Mitsui Trust Group Inc.

Key Points

• Sumitomo Mitsui Trust Group cut its Eversource Energy stake by 4.6%, selling 41,760 shares in the third quarter; it retained 867,508 shares valued at about $55.7 million.
• Analyst sentiment is mixed but averages to a Hold, with a consensus price target of $72.91; four analysts rate the stock Buy, six Hold, and three Sell.
• Eversource announced a quarterly dividend of $0.7875 per share, equivalent to $3.15 annually and a 4.6% yield.

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 4.6% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 867,508 shares of the utilities provider's stock after selling 41,760 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.23% of Eversource Energy worth $55,659,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ES. Elevation Wealth Partners LLC increased its position in Eversource Energy by 220.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider's stock valued at $25,000 after acquiring an additional 240 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Eversource Energy in the 2nd quarter valued at approximately $26,000. First Bancorp Inc ME purchased a new position in shares of Eversource Energy in the 2nd quarter valued at approximately $30,000. Keating Financial Advisory Services Inc. acquired a new position in shares of Eversource Energy in the second quarter valued at approximately $36,000. Finally, Latitude Advisors LLC acquired a new position in shares of Eversource Energy in the third quarter valued at approximately $49,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on ES shares. BMO Capital Markets cut their price target on 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. Weiss Ratings upgraded shares of Eversource Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 31st. HSBC began 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 on the stock. Mizuho boosted their price objective on shares of Eversource Energy from $70.00 to $74.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Finally, JPMorgan Chase & Co. cut their price objective on shares of Eversource Energy from $73.00 to $68.00 and set an "underweight" rating for the company in a research report on Monday, October 19th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $72.91.

Eversource Energy Trading Down 0.9%

NYSE:ES opened at $68.96 on Wednesday. The company has a market capitalization of $25.97 billion, a PE ratio of 14.16, a price-to-earnings-growth 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. Eversource Energy has a 52-week low of $62.72 and a 52-week high of $76.57. The stock has a fifty day simple moving average of $67.38 and a 200-day simple moving average of $70.02.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were issued a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 4.6%. The ex-dividend date was Monday, September 21st. Eversource Energy's dividend payout ratio (DPR) is 81.61%.

Eversource Energy Company 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.

Want to see what other hedge funds are holding ES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eversource Energy (NYSE:ES - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.