Allianz Asset Management GmbH Sells 270,303 Shares of Eversource Energy $ES

Allianz Asset Management GmbH cut its stake in Eversource Energy (NYSE:ES) by 72.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 103,485 shares of the utilities provider’s stock after selling 270,303 shares during the period. Allianz Asset Management GmbH’s holdings in Eversource Energy were worth $7,362,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of ES. United Asset Strategies Inc. grew its position in Eversource Energy by 1.0% during the third quarter. United Asset Strategies Inc. now owns 13,288 shares of the utilities provider’s stock worth $945,000 after buying an additional 138 shares in the last quarter. Mystic Asset Management Inc. lifted its position in shares of Eversource Energy by 0.9% in the 3rd quarter. Mystic Asset Management Inc. now owns 16,549 shares of the utilities provider’s stock worth $1,177,000 after acquiring an additional 150 shares during the period. Bay Colony Advisory Group Inc d b a Bay Colony Advisors lifted its position in shares of Eversource Energy by 3.3% in the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,054 shares of the utilities provider’s stock worth $360,000 after acquiring an additional 162 shares during the period. PDS Planning Inc grew its holdings in shares of Eversource Energy by 4.7% during the 2nd quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock worth $244,000 after purchasing an additional 173 shares in the last quarter. Finally, Avidian Wealth Enterprises LLC increased its position in shares of Eversource Energy by 2.9% during the second quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider’s stock valued at $393,000 after purchasing an additional 176 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Price Performance

Shares of Eversource Energy stock opened at $67.62 on Tuesday. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. The stock has a market capitalization of $25.37 billion, a price-to-earnings ratio of 18.53, a P/E/G ratio of 2.30 and a beta of 0.77. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $75.25. The firm’s 50-day moving average price is $68.10 and its two-hundred day moving average price is $68.34.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 5th will be paid a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.7%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, March 5th. Eversource Energy’s dividend payout ratio is 82.47%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on ES shares. Scotiabank reduced their target price on Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating for the company in a research report on Thursday, November 20th. Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $73.00 to $85.00 in a report on Tuesday, October 21st. Jefferies Financial Group reissued an “underperform” rating on shares of Eversource Energy in a research note on Monday, November 24th. Weiss Ratings restated a “hold (c+)” rating on shares of Eversource Energy in a research note on Wednesday, January 28th. Finally, BMO Capital Markets decreased their price objective on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a report on Thursday, November 6th. Two research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Reduce” and an average target price of $71.50.

About Eversource Energy

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.