Hsbc Holdings PLC Boosts Stock Position in Eversource Energy (NYSE:ES)

Hsbc Holdings PLC boosted its holdings in Eversource Energy (NYSE:ESGet Rating) by 5.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 534,930 shares of the utilities provider’s stock after buying an additional 29,043 shares during the quarter. Hsbc Holdings PLC owned approximately 0.16% of Eversource Energy worth $47,290,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of the business. Rinkey Investments purchased a new position in shares of Eversource Energy during the fourth quarter worth about $31,000. MCF Advisors LLC purchased a new position in shares of Eversource Energy during the first quarter worth about $31,000. Riverview Trust Co purchased a new position in shares of Eversource Energy during the first quarter worth about $33,000. Ellevest Inc. grew its holdings in shares of Eversource Energy by 605.5% during the first quarter. Ellevest Inc. now owns 388 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 333 shares during the last quarter. Finally, Tcwp LLC purchased a new position in shares of Eversource Energy during the first quarter worth about $34,000. Hedge funds and other institutional investors own 78.40% of the company’s stock.

Insider Activity

In other news, VP Gregory B. Butler sold 5,000 shares of Eversource Energy stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $91.33, for a total transaction of $456,650.00. Following the completion of the sale, the vice president now directly owns 71,814 shares in the company, valued at approximately $6,558,772.62. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.38% of the company’s stock.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $91.63 on Monday. The company has a 50-day moving average price of $88.63 and a 200 day moving average price of $87.95. Eversource Energy has a 52 week low of $77.07 and a 52 week high of $94.63. The company has a quick ratio of 0.71, a current ratio of 0.77 and a debt-to-equity ratio of 1.30. The company has a market cap of $31.74 billion, a P/E ratio of 23.92, a PEG ratio of 3.56 and a beta of 0.44.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on the company. Barclays dropped their price objective on Eversource Energy from $97.00 to $89.00 and set an “equal weight” rating on the stock in a report on Monday, July 18th. Credit Suisse Group increased their target price on shares of Eversource Energy to $90.00 in a research note on Tuesday, August 9th. UBS Group increased their target price on shares of Eversource Energy to $89.00 in a research note on Tuesday, September 6th. Wolfe Research upgraded shares of Eversource Energy from a “peer perform” rating to an “outperform” rating and set a $96.00 target price for the company in a research note on Monday, August 1st. Finally, Evercore ISI decreased their target price on shares of Eversource Energy to $91.00 in a research note on Tuesday, August 9th. One analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and a consensus target price of $92.18.

About Eversource Energy

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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.

Further Reading

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

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