Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in shares of Eversource Energy (NYSE:ES) by 2.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 49,443 shares of the utilities provider’s stock after purchasing an additional 1,016 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in Eversource Energy were worth $3,095,000 as of its most recent SEC filing.
A number of other institutional investors have also recently made changes to their positions in the business. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Eversource Energy by 1.2% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 911,755 shares of the utilities provider’s stock worth $55,106,000 after purchasing an additional 10,934 shares during the last quarter. Troy Asset Management Ltd increased its holdings in Eversource Energy by 14.4% in the 3rd quarter. Troy Asset Management Ltd now owns 55,500 shares of the utilities provider’s stock worth $3,354,000 after buying an additional 7,000 shares in the last quarter. Toronto Dominion Bank increased its holdings in Eversource Energy by 25.5% in the 2nd quarter. Toronto Dominion Bank now owns 107,349 shares of the utilities provider’s stock worth $6,516,000 after buying an additional 21,833 shares in the last quarter. Commerce Bank increased its holdings in Eversource Energy by 1.2% in the 3rd quarter. Commerce Bank now owns 346,419 shares of the utilities provider’s stock worth $20,938,000 after buying an additional 4,160 shares in the last quarter. Finally, FDO Partners LLC bought a new stake in Eversource Energy in the 3rd quarter worth about $3,767,000. 71.76% of the stock is owned by institutional investors and hedge funds.
Several equities research analysts recently commented on ES shares. Morgan Stanley upgraded Eversource Energy from an “equal weight” rating to an “overweight” rating and set a $72.00 price objective for the company in a report on Wednesday, December 13th. Zacks Investment Research upgraded Eversource Energy from a “hold” rating to a “buy” rating and set a $71.00 price objective for the company in a report on Tuesday, January 2nd. Williams Capital lifted their price objective on Eversource Energy from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. Finally, Credit Suisse Group downgraded Eversource Energy from a “neutral” rating to an “underperform” rating and reduced their price objective for the stock from $63.00 to $59.00 in a report on Tuesday, January 23rd. They noted that the move was a valuation call. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $63.63.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Tuesday, March 6th will be paid a dividend of $0.505 per share. This is an increase from Eversource Energy’s previous quarterly dividend of $0.48. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.54%. The ex-dividend date is Monday, March 5th. Eversource Energy’s payout ratio is currently 61.69%.
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Eversource Energy 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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