Mirae Asset Global Investments Co. Ltd. Grows Stock Position in Eversource Energy (NYSE:ES)

Mirae Asset Global Investments Co. Ltd. grew its stake in Eversource Energy (NYSE:ES) by 26.9% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 30,250 shares of the utilities provider’s stock after buying an additional 6,409 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Eversource Energy were worth $2,042,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the stock. Mitsubishi UFJ Trust & Banking Corp boosted its position in Eversource Energy by 65.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after purchasing an additional 1,524,341 shares in the last quarter. Public Sector Pension Investment Board boosted its holdings in Eversource Energy by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock worth $191,979,000 after buying an additional 20,207 shares in the last quarter. Bank of New York Mellon Corp grew its position in Eversource Energy by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock valued at $177,823,000 after buying an additional 354,429 shares during the period. ClearBridge Investments Ltd purchased a new position in Eversource Energy in the first quarter valued at $156,093,000. Finally, Zimmer Partners LP raised its position in shares of Eversource Energy by 730.4% in the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after acquiring an additional 2,231,585 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

ES stock opened at $65.49 on Thursday. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $69.01. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The firm has a market capitalization of $23.41 billion, a PE ratio of -242.56, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61. The business has a 50 day simple moving average of $66.51 and a 200-day simple moving average of $62.66.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the prior year, the business earned $1.00 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. Equities research analysts anticipate that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.37%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s dividend payout ratio is currently -1,059.26%.

Insider Buying and Selling

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the sale, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ES shares. Bank of America upped their price target on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. BMO Capital Markets decreased their target price on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Mizuho boosted their price target on shares of Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Wednesday. Finally, Morgan Stanley boosted their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $70.07.

Eversource Energy Company 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.