Mitsubishi UFJ Trust & Banking Corp Has $197.94 Million Stake in Eversource Energy (NYSE:ES)

Mitsubishi UFJ Trust & Banking Corp lessened its stake in shares of Eversource Energy (NYSE:ES) by 20.0% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 3,446,688 shares of the utilities provider’s stock after selling 864,045 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.94% of Eversource Energy worth $197,943,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Eversource Energy by 33.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock valued at $2,306,000 after acquiring an additional 9,981 shares in the last quarter. Verity & Verity LLC acquired a new stake in Eversource Energy in the 4th quarter valued at $744,000. Nordea Investment Management AB increased its stake in Eversource Energy by 41.7% during the 4th quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock valued at $99,554,000 after purchasing an additional 510,582 shares in the last quarter. Everett Harris & Co. CA raised its holdings in Eversource Energy by 125.2% during the fourth quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock worth $465,000 after buying an additional 4,500 shares during the last quarter. Finally, Soltis Investment Advisors LLC bought a new position in shares of Eversource Energy in the third quarter valued at $3,616,000. 79.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ES. Jefferies Financial Group lowered their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company decreased their price target on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Friday. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Finally, Scotiabank reduced their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and an average price target of $67.45.

Insiders Place Their Bets

In related news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction dated Friday, February 21st. The stock was 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 owns 24,374 shares of the company’s stock, valued at $1,535,318.26. The trade was a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the sale, the insider now directly owns 22,671 shares in the company, valued at $1,411,496.46. This represents a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Eversource Energy Trading Down 0.1 %

Eversource Energy stock opened at $60.90 on Tuesday. 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 12-month low of $54.75 and a 12-month high of $69.01. The firm has a 50 day moving average of $60.04 and a 200 day moving average of $61.75. The firm has a market capitalization of $22.35 billion, a price-to-earnings ratio of 26.36, a P/E/G ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. As a group, research analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be paid a dividend of $0.7525 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.94%. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s payout ratio is currently 130.30%.

Eversource Energy Company 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.