Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Eversource Energy (NYSE:ES – Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 128,039 shares of the utilities provider’s stock, valued at approximately $8,215,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. CX Institutional raised its holdings in shares of Eversource Energy by 4.3% in the second quarter. CX Institutional now owns 3,513 shares of the utilities provider’s stock valued at $254,000 after buying an additional 144 shares during the last quarter. Bank & Trust Co boosted its stake in shares of Eversource Energy by 2.0% during the second quarter. Bank & Trust Co now owns 7,459 shares of the utilities provider’s stock worth $539,000 after buying an additional 149 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Eversource Energy by 1.3% during the third quarter. Oppenheimer & Co. Inc. now owns 11,498 shares of the utilities provider’s stock worth $738,000 after buying an additional 151 shares during the period. Kintegral Advisory LLC grew its holdings in shares of Eversource Energy by 0.6% during the third quarter. Kintegral Advisory LLC now owns 27,019 shares of the utilities provider’s stock worth $1,734,000 after buying an additional 152 shares during the last quarter. Finally, Retirement Planning Co of New England Inc. grew its holdings in shares of Eversource Energy by 3.1% during the third quarter. Retirement Planning Co of New England Inc. now owns 5,131 shares of the utilities provider’s stock worth $329,000 after buying an additional 154 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.
Eversource Energy News Roundup
Here are the key news stories impacting Eversource Energy this week:
- Positive Sentiment: Adjusted earnings were $0.92 per share, above the $0.90 FactSet estimate cited in one report. That modest beat may have supported the stock. Earnings estimate report
- Negative Sentiment: Revenue was $2.98 billion, below the $3.20 billion FactSet estimate and down 7.5% from a year earlier. Revenue estimate report
- Negative Sentiment: The $0.92 per-share result also missed Zacks’ $0.97 consensus and was below the $1.19 in recurring earnings reported a year ago. Eversource reported $346 million in GAAP earnings, compared with $367.5 million a year earlier. Zacks earnings report
Eversource Energy Price Performance
Shares of NYSE ES opened at $70.27 on Thursday. The firm has a market capitalization of $26.47 billion, a P/E ratio of 18.20, a PEG ratio of 3.01 and a beta of 0.66. Eversource Energy has a one year low of $62.72 and a one year high of $76.57. The company’s fifty day moving average is $67.37 and its two-hundred day moving average is $70.02. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.80.
Eversource Energy (NYSE:ES – Get Free Report) last announced its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.90 by $0.02. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The business had revenue of $2.98 billion during the quarter, compared to the consensus estimate of $3.20 billion. During the same quarter last year, the firm posted $1.19 EPS. The business’s revenue was down 7.5% compared to the same quarter last year. Analysts forecast that Eversource Energy will post 4.63 EPS for the current fiscal year.
Eversource Energy Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were given a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 4.5%. The ex-dividend date was Monday, September 21st. Eversource Energy’s dividend payout ratio is presently 81.61%.
Wall Street Analysts Forecast Growth
Several equities analysts recently issued reports on the company. Mizuho boosted their price target on Eversource Energy from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Citigroup initiated coverage on Eversource Energy in a research report on Monday, July 27th. They set a “hold” rating and a $81.00 price objective for the company. Weiss Ratings upgraded Eversource Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. BMO Capital Markets lowered their target price on Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Finally, HSBC initiated coverage on Eversource Energy in a report on Thursday, October 22nd. They issued a “hold” rating and a $70.00 target price on the stock. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $72.91.
View Our Latest Stock Report on ES
About Eversource Energy
Eversource Energy (NYSE: ES) is a New England-based energy delivery company that provides electric and natural gas utility services. Through its regulated operating companies, it delivers electricity to residential, commercial and industrial customers and distributes natural gas to homes and businesses.
The company owns and operates electric transmission and distribution infrastructure, natural gas distribution systems and related utility facilities. Its electric operations include Connecticut Light and Power, NSTAR Electric and Public Service Company of New Hampshire, while its natural gas operations include several utilities serving customers in Connecticut and Massachusetts.
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