Mirae Asset Global Investments Co. Ltd. Has $3.51 Million Stock Position in Eversource Energy (NYSE:ES)

Mirae Asset Global Investments Co. Ltd. lowered its holdings in shares of Eversource Energy (NYSE:ES) by 2.2% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 56,860 shares of the utilities provider’s stock after selling 1,271 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in Eversource Energy were worth $3,509,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Quarry LP grew its stake in Eversource Energy by 275.0% in the first quarter. Quarry LP now owns 315 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 231 shares during the period. Exchange Traded Concepts LLC acquired a new stake in Eversource Energy in the fourth quarter valued at approximately $26,000. Resurgent Financial Advisors LLC acquired a new stake in Eversource Energy in the fourth quarter valued at approximately $27,000. UMB Bank n.a. grew its stake in Eversource Energy by 130.9% in the third quarter. UMB Bank n.a. now owns 642 shares of the utilities provider’s stock valued at $37,000 after acquiring an additional 364 shares during the period. Finally, MV Capital Management Inc. grew its stake in Eversource Energy by 40.4% in the third quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 206 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Activity

In other news, insider Faasen William C. Van sold 2,714 shares of Eversource Energy stock in a transaction on Thursday, January 18th. The stock was sold at an average price of $54.50, for a total value of $147,913.00. Following the completion of the transaction, the insider now directly owns 19,619 shares in the company, valued at $1,069,235.50. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the completion of the transaction, the insider now directly owns 10,485 shares in the company, valued at $609,388.20. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, insider Faasen William C. Van sold 2,714 shares of the business’s stock in a transaction dated Thursday, January 18th. The stock was sold at an average price of $54.50, for a total value of $147,913.00. Following the transaction, the insider now owns 19,619 shares of the company’s stock, valued at $1,069,235.50. The disclosure for this sale can be found here. Over the last three months, insiders sold 6,250 shares of company stock worth $352,014. 0.29% of the stock is owned by corporate insiders.

Eversource Energy Stock Performance

Shares of ES opened at $57.20 on Wednesday. The firm has a market cap of $20.06 billion, a PE ratio of -45.40, a PEG ratio of 3.12 and a beta of 0.58. The stock’s fifty day moving average price is $58.31 and its two-hundred day moving average price is $57.77. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $79.92.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.95 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.02). The company had revenue of $2.69 billion during the quarter, compared to analysts’ expectations of $3 billion. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. Eversource Energy’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.92 earnings per share. On average, equities research analysts forecast that Eversource Energy will post 4.52 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th were given a $0.715 dividend. The ex-dividend date was Monday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.68. This represents a $2.86 annualized dividend and a dividend yield of 5.00%. Eversource Energy’s payout ratio is -226.98%.

Analysts Set New Price Targets

ES has been the subject of a number of research reports. Citigroup raised their price objective on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Mizuho raised Eversource Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $54.00 to $62.00 in a research report on Thursday, February 15th. The Goldman Sachs Group began coverage on Eversource Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $73.00 target price on the stock. Wells Fargo & Company lifted their target price on Eversource Energy from $67.00 to $69.00 and gave the company an “overweight” rating in a research report on Tuesday, January 9th. Finally, StockNews.com raised Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Eversource Energy presently has an average rating of “Hold” and an average target price of $66.08.

Eversource Energy 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.