PNC Financial Services Group Inc. Has $24.71 Million Stake in Eversource Energy (NYSE:ES)

PNC Financial Services Group Inc. reduced its stake in shares of Eversource Energy (NYSE:ES) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The firm owned 430,183 shares of the utilities provider’s stock after selling 12,639 shares during the period. PNC Financial Services Group Inc.’s holdings in Eversource Energy were worth $24,705,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its position in Eversource Energy by 2.8% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 6,147 shares of the utilities provider’s stock worth $418,000 after purchasing an additional 166 shares in the last quarter. Exchange Traded Concepts LLC grew its holdings in shares of Eversource Energy by 10.5% in the fourth quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock valued at $107,000 after acquiring an additional 176 shares in the last quarter. UMB Bank n.a. increased its position in shares of Eversource Energy by 38.4% during the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock valued at $41,000 after acquiring an additional 197 shares during the last quarter. Summit Trail Advisors LLC lifted its holdings in Eversource Energy by 4.6% during the fourth quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock worth $281,000 after acquiring an additional 216 shares during the period. Finally, Fisher Asset Management LLC boosted its position in Eversource Energy by 1.9% in the third quarter. Fisher Asset Management LLC now owns 12,306 shares of the utilities provider’s stock worth $837,000 after purchasing an additional 232 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Stock Up 1.2 %

ES stock opened at $61.73 on Tuesday. The business has a 50 day moving average of $59.18 and a 200 day moving average of $62.19. The firm has a market cap of $22.64 billion, a PE ratio of 26.72, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. On average, research analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th will be paid a $0.7525 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.88%. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is 130.30%.

Insider Buying and Selling

In other Eversource Energy news, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the sale, the insider now owns 22,671 shares in the company, valued at $1,411,496.46. This represents a 12.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Jay S. Buth sold 980 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the sale, the vice president now owns 24,374 shares in the company, valued at approximately $1,535,318.26. The trade was a 3.87 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the stock. Barclays cut their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, March 1st. Jefferies Financial Group dropped their price objective on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Finally, Wells Fargo & Company decreased their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $67.45.

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.