Sumitomo Mitsui Trust Group Inc. Purchases 14,771 Shares of Eversource Energy (NYSE:ES)

Sumitomo Mitsui Trust Group Inc. lifted its position in shares of Eversource Energy (NYSE:ES) by 1.8% during the 4th quarter, HoldingsChannel reports. The fund owned 823,144 shares of the utilities provider’s stock after purchasing an additional 14,771 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Eversource Energy were worth $47,273,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of ES. Wellington Management Group LLP bought a new stake in shares of Eversource Energy during the third quarter worth about $808,783,000. National Bank of Canada FI grew its holdings in Eversource Energy by 446.0% during the 3rd quarter. National Bank of Canada FI now owns 749,736 shares of the utilities provider’s stock worth $51,019,000 after acquiring an additional 612,421 shares during the last quarter. Nordea Investment Management AB increased its position in Eversource Energy by 41.7% in 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 acquiring an additional 510,582 shares during the period. State Street Corp raised its stake in shares of Eversource Energy by 1.7% during the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock valued at $1,737,990,000 after acquiring an additional 430,587 shares during the last quarter. Finally, Retirement Systems of Alabama lifted its holdings in shares of Eversource Energy by 518.1% during the third quarter. Retirement Systems of Alabama now owns 480,278 shares of the utilities provider’s stock worth $32,683,000 after purchasing an additional 402,574 shares during the period. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

Shares of NYSE ES opened at $60.52 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. The firm’s 50-day moving average price is $57.99 and its 200-day moving average price is $62.74. The firm has a market capitalization of $22.17 billion, a P/E ratio of -38.55, a P/E/G ratio of 2.25 and a beta of 0.62. Eversource Energy has a 1-year low of $53.76 and a 1-year high of $69.01.

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be issued a $0.7525 dividend. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 annualized dividend and a yield of 4.97%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s dividend payout ratio is presently -191.72%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on ES shares. Jefferies Financial Group lowered their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research report on Tuesday, January 28th. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Monday. Barclays reduced their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. BMO Capital Markets lowered their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Finally, Scotiabank lowered shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their price objective for the company from $66.00 to $56.00 in a research note on Thursday, December 12th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $67.42.

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.