Eversource Energy $ES Stake Lifted by Asset Management One Co. Ltd.

Asset Management One Co. Ltd. increased its position in shares of Eversource Energy (NYSE:ES) by 5.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,876 shares of the utilities provider’s stock after purchasing an additional 8,574 shares during the period. Asset Management One Co. Ltd.’s holdings in Eversource Energy were worth $11,516,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in ES. PDS Planning Inc increased its position in shares of Eversource Energy by 4.7% during the 2nd quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock valued at $244,000 after purchasing an additional 173 shares during the period. Avidian Wealth Enterprises LLC boosted its stake in Eversource Energy by 2.9% during the second quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider’s stock valued at $393,000 after buying an additional 176 shares in the last quarter. Thrive Wealth Management LLC grew its holdings in Eversource Energy by 3.6% during the second quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider’s stock worth $346,000 after acquiring an additional 189 shares during the period. Penobscot Investment Management Company Inc. grew its holdings in Eversource Energy by 1.4% during the second quarter. Penobscot Investment Management Company Inc. now owns 14,418 shares of the utilities provider’s stock worth $917,000 after acquiring an additional 195 shares during the period. Finally, Hantz Financial Services Inc. raised its position in Eversource Energy by 17.9% in the second quarter. Hantz Financial Services Inc. now owns 1,286 shares of the utilities provider’s stock worth $82,000 after acquiring an additional 195 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Stock Up 0.6%

ES stock opened at $67.46 on Wednesday. The company has a 50 day moving average of $68.85 and a two-hundred day moving average of $67.62. The company has a market cap of $25.31 billion, a price-to-earnings ratio of 18.48, a PEG ratio of 2.27 and a beta of 0.76. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $75.25. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 1.68.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same period in the prior year, the business posted $1.13 earnings per share. Eversource Energy’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, equities analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were issued a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Wednesday, December 17th. Eversource Energy’s payout ratio is currently 82.47%.

Wall Street Analyst Weigh In

ES has been the subject of several research reports. TD Cowen initiated coverage on shares of Eversource Energy in a research report on Thursday, October 16th. They set a “hold” rating and a $76.00 price objective for the company. BMO Capital Markets reduced their target price on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a report on Thursday, November 6th. Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a report on Monday, November 24th. JPMorgan Chase & Co. reduced their price objective on shares of Eversource Energy from $72.00 to $71.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Finally, Jefferies Financial Group reissued an “underperform” rating on shares of Eversource Energy in a research report on Monday, November 24th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $71.27.

Insider Activity at Eversource Energy

In related news, EVP James W. Hunt III sold 4,129 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the transaction, the executive vice president owned 32,415 shares in the company, valued at approximately $2,358,839.55. This represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 0.19% of the company’s stock.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.