TNB Financial decreased its stake in shares of Eversource Energy (NYSE:ES) by 11.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,005 shares of the utilities provider’s stock after selling 905 shares during the quarter. TNB Financial’s holdings in Eversource Energy were worth $443,000 at the end of the most recent reporting period.
A number of other institutional investors also recently modified their holdings of the business. Janus Henderson Group PLC boosted its position in shares of Eversource Energy by 142.0% in the 3rd quarter. Janus Henderson Group PLC now owns 1,854,043 shares of the utilities provider’s stock worth $112,057,000 after buying an additional 1,087,774 shares in the last quarter. APG Asset Management N.V. raised its position in Eversource Energy by 72.3% during the 3rd quarter. APG Asset Management N.V. now owns 2,556,503 shares of the utilities provider’s stock worth $154,515,000 after purchasing an additional 1,072,700 shares during the last quarter. Bank of New York Mellon Corp raised its position in Eversource Energy by 3.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 15,936,793 shares of the utilities provider’s stock worth $963,220,000 after purchasing an additional 516,965 shares during the last quarter. Old Mutual Global Investors UK Ltd. raised its position in Eversource Energy by 119.2% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 865,074 shares of the utilities provider’s stock worth $52,285,000 after purchasing an additional 470,491 shares during the last quarter. Finally, American Century Companies Inc. raised its position in Eversource Energy by 14.4% during the 3rd quarter. American Century Companies Inc. now owns 2,653,302 shares of the utilities provider’s stock worth $160,366,000 after purchasing an additional 333,139 shares during the last quarter. Institutional investors and hedge funds own 71.58% of the company’s stock.
Several brokerages recently issued reports on ES. Zacks Investment Research raised Eversource Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, December 5th. Morgan Stanley raised Eversource Energy from an “equal weight” rating to an “overweight” rating and set a $72.00 target price for the company in a research report on Wednesday, December 13th. Bank of America began coverage on Eversource Energy in a research report on Tuesday, October 24th. They set an “underperform” rating and a $62.00 target price for the company. Finally, Williams Capital raised their target price on Eversource Energy from $64.00 to $66.00 and gave the stock a “buy” rating in a research report on Monday, October 23rd. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $63.63.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Tuesday, March 6th will be given a $0.505 dividend. This represents a $2.02 dividend on an annualized basis and a yield of 3.47%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.48. The ex-dividend date of this dividend is Monday, March 5th. Eversource Energy’s payout ratio is presently 61.69%.
Eversource Energy Company Profile
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, Massachusetts, and New Hampshire and the regulated electric generation businesses.
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