Eversource Energy (NYSE:ES) Shares Acquired by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. boosted its holdings in Eversource Energy (NYSE:ESFree Report) by 0.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 441,990 shares of the utilities provider’s stock after acquiring an additional 3,956 shares during the period. PNC Financial Services Group Inc. owned 0.13% of Eversource Energy worth $27,280,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ES. Exchange Traded Concepts LLC acquired a new position in Eversource Energy during the fourth quarter worth $26,000. Bfsg LLC acquired a new position in Eversource Energy during the 4th quarter worth about $31,000. Hexagon Capital Partners LLC boosted its holdings in Eversource Energy by 84.0% during the 4th quarter. Hexagon Capital Partners LLC now owns 596 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 272 shares during the period. MV Capital Management Inc. grew its position in Eversource Energy by 40.4% in the 3rd quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 206 shares in the last quarter. Finally, CVA Family Office LLC purchased a new stake in Eversource Energy during the fourth quarter worth about $43,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Down 0.3 %

Shares of NYSE ES opened at $60.78 on Tuesday. The business has a 50-day moving average price of $59.63 and a 200 day moving average price of $58.71. The stock has a market cap of $21.41 billion, a PE ratio of -51.51, a price-to-earnings-growth ratio of 2.36 and a beta of 0.57. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $74.81.

Eversource Energy (NYSE:ESGet Free Report) last issued its quarterly earnings data on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.41 earnings per share. Equities research analysts forecast that Eversource Energy will post 4.53 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 16th will be issued a $0.715 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.71%. Eversource Energy’s payout ratio is -242.37%.

Wall Street Analysts Forecast Growth

ES has been the subject of several recent research reports. Scotiabank lowered their price objective on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. StockNews.com upgraded shares of Eversource Energy to a “sell” rating in a research note on Thursday, March 28th. Argus reduced their price objective on Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a research note on Monday, March 25th. The Goldman Sachs Group initiated coverage on Eversource Energy in a research note on Wednesday, April 10th. They set a “buy” rating and a $73.00 target price for the company. Finally, Citigroup increased their price target on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research report on Thursday, February 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $65.86.

Read Our Latest Report on ES

Insider Activity

In other news, insider Frederica M. Williams sold 2,714 shares of the company’s stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the sale, the insider now owns 21,621 shares in the company, valued at $1,245,369.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now owns 21,621 shares in the company, valued at $1,245,369.60. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the transaction, the insider now owns 10,485 shares in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

About Eversource Energy

(Free Report)

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.

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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