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

PNC Financial Services Group Inc. reduced its holdings in shares of Eversource Energy (NYSE:ES) by 2.9% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 430,183 shares of the utilities provider’s stock after selling 12,639 shares during the period. PNC Financial Services Group Inc. owned about 0.12% of Eversource Energy worth $24,705,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Mirae Asset Global Investments Co. Ltd. raised its stake in Eversource Energy by 33.0% during the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 40,231 shares of the utilities provider’s stock worth $2,306,000 after acquiring an additional 9,981 shares in the last quarter. Verity & Verity LLC bought a new stake in shares of Eversource Energy in the 4th quarter worth about $744,000. Nordea Investment Management AB increased its position in shares of Eversource Energy by 41.7% during the 4th quarter. Nordea Investment Management AB now owns 1,735,901 shares of the utilities provider’s stock worth $99,554,000 after purchasing an additional 510,582 shares in the last quarter. Landscape Capital Management L.L.C. lifted its holdings in Eversource Energy by 46.9% during the 3rd quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock valued at $2,151,000 after purchasing an additional 10,093 shares during the last quarter. Finally, Everett Harris & Co. CA boosted its position in Eversource Energy by 125.2% in the fourth quarter. Everett Harris & Co. CA now owns 8,093 shares of the utilities provider’s stock valued at $465,000 after buying an additional 4,500 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Up 1.2 %

Shares of ES stock opened at $61.73 on Tuesday. The stock has a market cap of $22.64 billion, a P/E ratio of 26.72, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. Eversource Energy has a 1 year low of $54.75 and a 1 year high of $69.01. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. The stock has a 50 day simple moving average of $59.18 and a 200 day simple moving average of $62.19.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping 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 predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be issued a dividend of $0.7525 per share. The ex-dividend date is Tuesday, March 4th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a dividend yield of 4.88%. Eversource Energy’s payout ratio is 130.30%.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on ES. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday, March 1st. Jefferies Financial Group decreased their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Scotiabank cut their price target on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a report on Thursday, February 13th. Barclays decreased their price objective 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. Finally, Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Three research analysts have rated the stock with a sell rating, four have assigned a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and an average target price of $67.45.

Insider Buying and Selling

In related news, VP Jay S. Buth sold 980 shares of the business’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the sale, the vice president now owns 24,374 shares of the company’s stock, valued at $1,535,318.26. The trade was a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction dated Wednesday, February 19th. The shares were 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 trade represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

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.