Mirae Asset Global Investments Co. Ltd. Acquires 13,950 Shares of Eversource Energy (NYSE:ES)

Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Eversource Energy (NYSE:ESFree Report) by 24.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 70,810 shares of the utilities provider’s stock after acquiring an additional 13,950 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in Eversource Energy were worth $4,232,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of ES. Norges Bank acquired a new position in Eversource Energy during the 4th quarter worth about $149,906,000. Morgan Stanley lifted its holdings in Eversource Energy by 19.3% during the 3rd quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock worth $259,595,000 after buying an additional 723,318 shares during the period. American Century Companies Inc. raised its position in shares of Eversource Energy by 23.7% in the 3rd quarter. American Century Companies Inc. now owns 3,663,024 shares of the utilities provider’s stock worth $213,005,000 after acquiring an additional 702,360 shares in the last quarter. Clean Energy Transition LLP bought a new position in shares of Eversource Energy in the 4th quarter worth about $40,181,000. Finally, Nordea Investment Management AB raised its position in shares of Eversource Energy by 8.2% in the 4th quarter. Nordea Investment Management AB now owns 6,299,800 shares of the utilities provider’s stock worth $388,509,000 after acquiring an additional 475,341 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on ES shares. Wells Fargo & Company lifted their price objective on Eversource Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a research report on Friday, May 3rd. Scotiabank lowered their price objective on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. BMO Capital Markets lifted their price objective on Eversource Energy from $65.00 to $66.00 and gave the stock a “market perform” rating in a research report on Friday, May 3rd. Bank of America raised Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 target price for the company in a research report on Tuesday, June 25th. Finally, Morgan Stanley decreased their target price on Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $65.86.

Check Out Our Latest Stock Report on Eversource Energy

Eversource Energy Price Performance

Eversource Energy stock opened at $58.09 on Thursday. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $74.81. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71. The business’s 50 day simple moving average is $58.83 and its 200 day simple moving average is $58.47. The company has a market cap of $20.46 billion, a price-to-earnings ratio of -49.23, a PEG ratio of 2.21 and a beta of 0.59.

Eversource Energy (NYSE:ESGet Free Report) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.69 billion. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The business’s quarterly revenue was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.41 earnings per share. Sell-side analysts forecast that Eversource Energy will post 4.53 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Thursday, May 16th were issued a $0.715 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $2.86 annualized dividend and a dividend yield of 4.92%. Eversource Energy’s payout ratio is currently -242.37%.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 2,700 shares of the company’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $58.75, for a total value of $158,625.00. Following the transaction, the executive vice president now owns 10,272 shares of the company’s stock, valued at $603,480. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total value of $562,000.00. Following the transaction, the vice president now owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction on Friday, May 31st. The shares were sold at an average price of $58.75, for a total value of $158,625.00. Following the completion of the transaction, the executive vice president now directly owns 10,272 shares in the company, valued at approximately $603,480. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Eversource Energy Company Profile

(Free Report)

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.

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

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