Sumitomo Mitsui Trust Group Inc. Has $57.42 Million Stock Holdings in Eversource Energy (NYSE:ES)

Sumitomo Mitsui Trust Group Inc. increased its stake in Eversource Energy (NYSE:ES - Free Report) by 12.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 924,527 shares of the utilities provider's stock after acquiring an additional 101,383 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.25% of Eversource Energy worth $57,422,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC boosted its stake in Eversource Energy by 13.1% during the first quarter. Allspring Global Investments Holdings LLC now owns 115,079 shares of the utilities provider's stock valued at $7,145,000 after buying an additional 13,360 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its holdings in Eversource Energy by 49.9% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 60,294 shares of the utilities provider's stock valued at $3,685,000 after acquiring an additional 20,063 shares during the last quarter. Illinois Municipal Retirement Fund boosted its position in shares of Eversource Energy by 20.1% during the 1st quarter. Illinois Municipal Retirement Fund now owns 123,473 shares of the utilities provider's stock valued at $7,669,000 after purchasing an additional 20,701 shares in the last quarter. Old North State Wealth Management LLC grew its stake in shares of Eversource Energy by 34.9% in the 1st quarter. Old North State Wealth Management LLC now owns 6,813 shares of the utilities provider's stock worth $424,000 after purchasing an additional 1,761 shares during the last quarter. Finally, PDS Planning Inc bought a new stake in shares of Eversource Energy in the 1st quarter worth approximately $228,000. Institutional investors and hedge funds own 79.99% of the company's stock.

Eversource Energy Stock Up 0.2%

NYSE:ES traded up $0.12 during trading hours on Thursday, hitting $64.57. 1,470,971 shares of the stock traded hands, compared to its average volume of 2,489,359. The firm has a market cap of $23.72 billion, a price-to-earnings ratio of 27.83, a PEG ratio of 2.40 and a beta of 0.62. The firm has a 50 day moving average price of $62.97 and a 200 day moving average price of $60.31. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.71. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, meeting analysts' consensus estimates of $1.50. The business had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.65 billion. Eversource Energy had a return on equity of 11.04% and a net margin of 6.63%. Eversource Energy's revenue for the quarter was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.49 earnings per share. Equities research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Stockholders of record on Thursday, May 15th were given a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.66%. The ex-dividend date of this dividend was Thursday, May 15th. Eversource Energy's dividend payout ratio (DPR) is 129.74%.

Insider Activity

In related news, EVP Penelope M. Conner sold 2,600 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the transaction, the executive vice president directly owned 10,988 shares of the company's stock, valued at approximately $703,232. The trade was a 19.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 0.41% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. BMO Capital Markets raised their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. Mizuho raised their price objective on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. reaffirmed 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 research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $65.67.

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.