Sumitomo Mitsui DS Asset Management Company Ltd Has $3.41 Million Stock Position in Eversource Energy (NYSE:ES)

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Eversource Energy (NYSE:ES) by 6.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 59,418 shares of the utilities provider’s stock after buying an additional 3,687 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Eversource Energy were worth $3,412,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of ES. Verity & Verity LLC bought a new position in Eversource Energy in the 4th quarter valued at about $744,000. Nordea Investment Management AB lifted its holdings in 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 during the last quarter. Landscape Capital Management L.L.C. boosted its stake in Eversource Energy by 46.9% in 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 period. Everett Harris & Co. CA grew its holdings in Eversource Energy by 125.2% in the 4th 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. Finally, Soltis Investment Advisors LLC bought a new position in Eversource Energy during the 3rd quarter worth $3,616,000. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Up 0.8 %

Shares of NYSE:ES opened at $59.42 on Monday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. Eversource Energy has a 52-week low of $52.71 and a 52-week high of $69.01. The business’s 50 day simple moving average is $57.99 and its two-hundred day simple moving average is $62.75. The firm has a market cap of $21.77 billion, a P/E ratio of -37.85, a PEG ratio of 2.25 and a beta of 0.62.

Eversource Energy Increases Dividend

The company also recently announced 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 a positive change from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend is Tuesday, March 4th. This represents a $3.01 annualized dividend and a dividend yield of 5.07%. Eversource Energy’s dividend payout ratio is presently -182.17%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ES. Jefferies Financial Group decreased their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Scotiabank lowered shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and decreased their target price for the stock from $66.00 to $56.00 in a research report on Thursday, December 12th. Barclays dropped their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research report on Wednesday, January 22nd. StockNews.com raised Eversource Energy from a “sell” rating to a “hold” rating in a research report on Saturday, December 21st. Finally, BMO Capital Markets dropped their price objective on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $67.42.

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.