The Manufacturers Life Insurance Company Sells 40,335 Shares of Eversource Energy (ES)

The Manufacturers Life Insurance Company decreased its holdings in Eversource Energy (NYSE:ES) by 3.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,170,408 shares of the utilities provider’s stock after selling 40,335 shares during the period. The Manufacturers Life Insurance Company owned approximately 0.37% of Eversource Energy worth $73,946,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ES. Janus Henderson Group PLC increased its holdings in shares of Eversource Energy by 142.0% during the 3rd quarter. Janus Henderson Group PLC now owns 1,854,043 shares of the utilities provider’s stock worth $112,057,000 after buying an additional 1,087,774 shares during the last quarter. APG Asset Management N.V. increased its holdings in shares of Eversource Energy by 72.3% during the 3rd quarter. APG Asset Management N.V. now owns 2,556,503 shares of the utilities provider’s stock worth $154,515,000 after buying an additional 1,072,700 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Eversource Energy by 3.4% during the 3rd quarter. Bank of New York Mellon Corp now owns 15,936,793 shares of the utilities provider’s stock worth $963,220,000 after buying an additional 516,965 shares during the last quarter. Old Mutual Global Investors UK Ltd. increased its holdings in shares of Eversource Energy by 119.2% during the 3rd quarter. Old Mutual Global Investors UK Ltd. now owns 865,074 shares of the utilities provider’s stock worth $52,285,000 after buying an additional 470,491 shares during the last quarter. Finally, Swiss National Bank increased its holdings in shares of Eversource Energy by 33.5% during the 4th quarter. Swiss National Bank now owns 1,557,757 shares of the utilities provider’s stock worth $98,419,000 after buying an additional 390,600 shares during the last quarter. Institutional investors own 71.58% of the company’s stock.

Eversource Energy (ES) opened at $59.12 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. The firm has a market cap of $18,560.00, a P/E ratio of 19.19, a P/E/G ratio of 2.94 and a beta of 0.27. Eversource Energy has a 1 year low of $55.85 and a 1 year high of $66.15.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Investors of record on Tuesday, March 6th will be given a dividend of $0.505 per share. The ex-dividend date is Monday, March 5th. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.42%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.48. Eversource Energy’s dividend payout ratio (DPR) is presently 61.69%.

A number of analysts have recently issued reports on the stock. Bank of America cut their price target on shares of Eversource Energy from $64.00 to $59.00 and set an “underperform” rating for the company in a report on Friday, February 2nd. Morgan Stanley upgraded shares of Eversource Energy from an “equal weight” rating to an “overweight” rating and set a $72.00 price target for the company in a report on Wednesday, December 13th. Guggenheim restated a “buy” rating and set a $64.00 price target on shares of Eversource Energy in a report on Friday, February 2nd. UBS Group started coverage on shares of Eversource Energy in a report on Friday, February 2nd. They set a “neutral” rating and a $66.00 price target for the company. Finally, Janney Montgomery Scott cut shares of Eversource Energy from a “buy” rating to a “neutral” rating in a research report on Friday, February 2nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $63.63.

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Eversource Energy Profile

Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, Massachusetts, and New Hampshire and the regulated electric generation businesses.

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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