Eversource Energy (NYSE:ES) Position Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its holdings in shares of Eversource Energy (NYSE:ES – Get Rating) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,205,392 shares of the utilities provider’s stock after purchasing an additional 22,946 shares during the period. Bank of New York Mellon Corp owned approximately 0.92% of Eversource Energy worth $249,892,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. Parcion Private Wealth LLC boosted its position in shares of Eversource Energy by 4.3% during the 2nd quarter. Parcion Private Wealth LLC now owns 3,090 shares of the utilities provider’s stock valued at $260,000 after purchasing an additional 126 shares in the last quarter. United Capital Financial Advisers LLC lifted its stake in Eversource Energy by 3.6% during the first quarter. United Capital Financial Advisers LLC now owns 3,880 shares of the utilities provider’s stock valued at $342,000 after buying an additional 134 shares in the last quarter. SBB Research Group LLC lifted its stake in Eversource Energy by 5.3% during the third quarter. SBB Research Group LLC now owns 2,710 shares of the utilities provider’s stock valued at $211,000 after buying an additional 136 shares in the last quarter. Midwest Professional Planners LTD. lifted its stake in Eversource Energy by 2.2% during the second quarter. Midwest Professional Planners LTD. now owns 6,319 shares of the utilities provider’s stock valued at $534,000 after buying an additional 137 shares in the last quarter. Finally, FineMark National Bank & Trust lifted its stake in Eversource Energy by 2.1% during the third quarter. FineMark National Bank & Trust now owns 6,672 shares of the utilities provider’s stock valued at $520,000 after buying an additional 140 shares in the last quarter. Institutional investors own 77.37% of the company’s stock.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Faasen William C. Van sold 1,943 shares of the stock in a transaction that occurred on Thursday, January 19th. The stock was sold at an average price of $81.08, for a total transaction of $157,538.44. Following the transaction, the insider now owns 18,841 shares in the company, valued at $1,527,628.28. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.38% of the company’s stock.

Eversource Energy Price Performance

Shares of ES opened at $76.80 on Friday. The firm has a market cap of $26.76 billion, a PE ratio of 19.01, a PEG ratio of 2.67 and a beta of 0.45. The firm’s 50 day moving average price is $79.46 and its 200 day moving average price is $81.10. The company has a debt-to-equity ratio of 1.27, a quick ratio of 0.57 and a current ratio of 0.62. Eversource Energy has a twelve month low of $70.54 and a twelve month high of $94.63.

Eversource Energy (NYSE:ES – Get Rating) last issued its quarterly earnings data on Monday, February 13th. The utilities provider reported $0.92 earnings per share for the quarter, missing the consensus estimate of $0.94 by ($0.02). The business had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $2.24 billion. Eversource Energy had a net margin of 11.43% and a return on equity of 9.38%. Eversource Energy’s revenue was up 22.1% compared to the same quarter last year. During the same period in the previous year, the business posted $0.91 EPS. As a group, research analysts expect that Eversource Energy will post 4.37 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 31st. Shareholders of record on Thursday, March 2nd will be issued a dividend of $0.675 per share. This represents a $2.70 annualized dividend and a yield of 3.52%. The ex-dividend date of this dividend is Wednesday, March 1st. This is an increase from Eversource Energy’s previous quarterly dividend of $0.64. Eversource Energy’s dividend payout ratio (DPR) is 66.83%.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Morgan Stanley reduced their price objective on shares of Eversource Energy from $90.00 to $87.00 and set an “equal weight” rating for the company in a research note on Wednesday, February 22nd. Evercore ISI raised shares of Eversource Energy from an “in-line” rating to an “outperform” rating and upped their price objective for the company from $86.00 to $92.00 in a research note on Tuesday, January 24th. BMO Capital Markets reduced their price target on shares of Eversource Energy from $89.00 to $86.00 and set a “market perform” rating for the company in a research report on Wednesday, February 15th. StockNews.com initiated coverage on shares of Eversource Energy in a research report on Thursday. They issued a “hold” rating for the company. Finally, Wolfe Research lowered shares of Eversource Energy from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, February 21st. Nine research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $89.00.

Eversource Energy Profile

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Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution. The Electric Distribution segment distributes electricity to retail customers.