First Citizens Bank & Trust Co. trimmed its stake in shares of Eversource Energy (NYSE:ES) by 26.2% in the 1st quarter, HoldingsChannel reports. The firm owned 4,334 shares of the utilities provider’s stock after selling 1,542 shares during the period. First Citizens Bank & Trust Co.’s holdings in Eversource Energy were worth $307,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. QUANTRES ASSET MANAGEMENT Ltd acquired a new position in shares of Eversource Energy during the 1st quarter worth about $213,000. Nachman Norwood & Parrott Inc boosted its position in shares of Eversource Energy by 5.6% during the 1st quarter. Nachman Norwood & Parrott Inc now owns 10,210 shares of the utilities provider’s stock worth $724,000 after acquiring an additional 544 shares in the last quarter. Pacer Advisors Inc. acquired a new position in shares of Eversource Energy during the 1st quarter worth about $2,500,000. Dynamic Advisor Solutions LLC boosted its position in shares of Eversource Energy by 1.0% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 32,718 shares of the utilities provider’s stock worth $2,321,000 after acquiring an additional 327 shares in the last quarter. Finally, State of Alaska Department of Revenue boosted its position in shares of Eversource Energy by 2.1% during the 1st quarter. State of Alaska Department of Revenue now owns 126,471 shares of the utilities provider’s stock worth $8,971,000 after acquiring an additional 2,574 shares in the last quarter. 73.99% of the stock is owned by hedge funds and other institutional investors.
Eversource Energy stock opened at $70.15 on Wednesday. Eversource Energy has a fifty-two week low of $52.76 and a fifty-two week high of $72.26. The company has a quick ratio of 0.50, a current ratio of 0.56 and a debt-to-equity ratio of 1.07. The stock has a market capitalization of $22.46 billion, a PE ratio of 21.39, a PEG ratio of 3.68 and a beta of 0.31.
The company also recently announced a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th were issued a $0.535 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.51. This represents a $2.14 annualized dividend and a dividend yield of 3.05%. The ex-dividend date of this dividend was Monday, March 4th. Eversource Energy’s payout ratio is presently 65.24%.
Several research firms have recently issued reports on ES. Zacks Investment Research cut Eversource Energy from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. Bank of America cut Eversource Energy from a “neutral” rating to an “underperform” rating and set a $68.00 price objective for the company. in a research report on Monday, February 25th. Scotiabank reaffirmed a “sell” rating and set a $63.00 price objective on shares of Eversource Energy in a research report on Thursday, February 21st. Williams Capital reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, March 18th. Finally, Morgan Stanley upped their price objective on Eversource Energy from $69.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 12th. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and eight have issued a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $69.60.
In other news, insider Sanford Cloud, Jr. sold 1,042 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $68.87, for a total value of $71,762.54. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Gregory B. Butler sold 11,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $68.63, for a total value of $789,245.00. The disclosure for this sale can be found here. Insiders sold a total of 111,201 shares of company stock valued at $7,727,360 over the last three months. Company insiders own 0.37% of the company’s stock.
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Eversource Energy Company Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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