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 increased its position in shares of Eversource Energy (NYSE:ES) by 6.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 59,418 shares of the utilities provider’s stock after acquiring 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 quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Brooklyn Investment Group bought a new position in shares of Eversource Energy in the 3rd quarter worth $31,000. Ashton Thomas Securities LLC acquired a new position in Eversource Energy in the third quarter valued at about $32,000. UMB Bank n.a. boosted its holdings in Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock worth $35,000 after buying an additional 198 shares during the last quarter. Larson Financial Group LLC grew its position in shares of Eversource Energy by 162.0% during the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after buying an additional 350 shares during the period. Finally, MFA Wealth Advisors LLC bought a new stake in shares of Eversource Energy in the 3rd quarter valued at about $48,000. Institutional investors own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

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

Eversource Energy Stock Performance

Shares of ES stock opened at $59.42 on Monday. Eversource Energy has a 12 month low of $52.71 and a 12 month high of $69.01. The company’s fifty day simple moving average is $57.99 and its 200-day simple moving average is $62.75. The firm has a market cap of $21.77 billion, a PE ratio of -37.85, a P/E/G ratio of 2.25 and a beta of 0.62. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73.

Eversource Energy Increases Dividend

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

About Eversource Energy

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.