TIAA Trust National Association Trims Holdings in Eversource Energy (NYSE:ES)

TIAA Trust National Association cut its position in shares of Eversource Energy (NYSE:ES) by 20.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,153 shares of the utilities provider’s stock after selling 1,817 shares during the quarter. TIAA Trust National Association’s holdings in Eversource Energy were worth $411,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of ES. Exchange Traded Concepts LLC grew its stake in Eversource Energy by 10.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock worth $107,000 after acquiring an additional 176 shares during the period. UMB Bank n.a. grew its position in shares of Eversource Energy by 38.4% in the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock valued at $41,000 after purchasing an additional 197 shares during the period. Summit Trail Advisors LLC increased its stake in Eversource Energy by 4.6% in the fourth quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock valued at $281,000 after purchasing an additional 216 shares during the last quarter. Fisher Asset Management LLC lifted its position in Eversource Energy by 1.9% during the third quarter. Fisher Asset Management LLC now owns 12,306 shares of the utilities provider’s stock worth $837,000 after buying an additional 232 shares during the period. Finally, Keybank National Association OH boosted its stake in Eversource Energy by 2.6% in the 4th quarter. Keybank National Association OH now owns 9,090 shares of the utilities provider’s stock worth $522,000 after buying an additional 233 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Up 1.4 %

ES stock opened at $61.13 on Friday. The stock has a market cap of $22.44 billion, a PE ratio of 26.46, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. The firm’s 50-day simple moving average is $60.28 and its 200 day simple moving average is $61.62. Eversource Energy has a fifty-two week low of $54.75 and a fifty-two week high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71.

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

Eversource Energy Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be given a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.92%. The ex-dividend date is Tuesday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s payout ratio is 130.30%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on ES. Wells Fargo & Company cut their price objective on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Jefferies Financial Group lowered their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Barclays cut their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research report on Wednesday, January 22nd. Finally, Scotiabank lowered their price target on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $67.40.

Insider Transactions at Eversource Energy

In other news, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the sale, the insider now directly owns 22,671 shares of the company’s stock, valued at approximately $1,411,496.46. This represents a 12.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Jay S. Buth sold 980 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value 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. This trade represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

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.