Mitsubishi UFJ Asset Management Co. Ltd. Acquires 47,189 Shares of Eversource Energy (NYSE:ES)

Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in Eversource Energy (NYSE:ES) by 9.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 548,858 shares of the utilities provider’s stock after purchasing an additional 47,189 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.15% of Eversource Energy worth $31,455,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of 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 buying an additional 9,981 shares during the last quarter. Verity & Verity LLC bought a new stake in Eversource Energy during the 4th quarter worth $744,000. Nordea Investment Management AB grew its position 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 acquiring an additional 510,582 shares during the last quarter. Everett Harris & Co. CA increased 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 worth $465,000 after purchasing an additional 4,500 shares in the last quarter. Finally, Soltis Investment Advisors LLC bought a new position in Eversource Energy in the third quarter valued at about $3,616,000. 79.99% of the stock is owned by institutional investors.

Eversource Energy Stock Performance

Shares of ES opened at $61.13 on Friday. 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 firm’s fifty day simple moving average is $60.28 and its two-hundred day simple moving average is $61.58. Eversource Energy has a 12 month low of $54.75 and a 12 month high of $69.01. The stock has a market capitalization of $22.44 billion, a P/E ratio of 26.46, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. As a group, analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed 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. The ex-dividend date is Tuesday, March 4th. This represents a $3.01 annualized dividend and a dividend yield of 4.92%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.72. Eversource Energy’s payout ratio is currently 130.30%.

Insider Activity at Eversource Energy

In related news, insider Frederica M. Williams sold 3,092 shares of the business’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 directly owns 22,671 shares of the company’s stock, valued at $1,411,496.46. The trade was a 12.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Jay S. Buth sold 980 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the transaction, 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 owned by corporate insiders.

Wall Street Analysts Forecast Growth

ES has been the topic of several research reports. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a report on Monday, February 10th. Wells Fargo & Company dropped their price target on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research note on Thursday, February 13th. Jefferies Financial Group reduced their price objective 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. Finally, Scotiabank decreased their price objective 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. Two analysts have rated the stock with a sell rating, five have given a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $67.40.

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.