Prudential PLC Has $8.71 Million Stock Holdings in Eversource Energy (NYSE:ES)

Prudential PLC trimmed its position in Eversource Energy (NYSE:ES) by 8.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 151,673 shares of the utilities provider’s stock after selling 13,228 shares during the quarter. Prudential PLC’s holdings in Eversource Energy were worth $8,711,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ES. Wellington Management Group LLP acquired a new position in shares of Eversource Energy in the 3rd quarter valued at $808,783,000. Norges Bank acquired a new position in Eversource Energy in the fourth quarter valued at about $188,838,000. Amundi boosted its holdings in Eversource Energy by 32.2% during the fourth quarter. Amundi now owns 6,482,546 shares of the utilities provider’s stock worth $367,691,000 after buying an additional 1,579,818 shares during the last quarter. Vanguard Group Inc. grew its position in shares of Eversource Energy by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock worth $2,561,936,000 after buying an additional 1,387,072 shares during the period. Finally, Magellan Asset Management Ltd increased its stake in shares of Eversource Energy by 15.9% in the 4th quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider’s stock valued at $371,829,000 after acquiring an additional 890,514 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

Eversource Energy Trading Down 5.6 %

NYSE ES opened at $58.48 on Friday. The stock has a market capitalization of $21.47 billion, a price-to-earnings ratio of 25.31, a PEG ratio of 2.35 and a beta of 0.58. Eversource Energy has a 52 week low of $54.75 and a 52 week high of $69.01. The stock’s 50 day moving average price is $60.73 and its two-hundred day moving average price is $61.40. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping 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, analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 4th were given a $0.7525 dividend. The ex-dividend date was Tuesday, March 4th. This represents a $3.01 dividend on an annualized basis and a dividend yield of 5.15%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s payout ratio is currently 130.30%.

Wall Street Analysts Forecast Growth

ES has been the subject of a number of analyst reports. Jefferies Financial Group decreased their price objective on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a report on Tuesday, January 28th. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Saturday, March 29th. Barclays dropped their price objective on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Finally, Wells Fargo & Company dropped their price target on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock 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 four have given a buy rating to the company’s stock. According to data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and a consensus target price of $67.44.

Insider Buying and Selling

In other news, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the transaction, the insider now directly owns 22,671 shares in the company, valued at $1,411,496.46. The trade was a 12.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Jay S. Buth sold 980 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were 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 directly owns 24,374 shares in the company, valued at approximately $1,535,318.26. The trade was a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

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.