Mufg Securities Americas Inc. Acquires New Stake in Eversource Energy (NYSE:ES)

Mufg Securities Americas Inc. purchased a new stake in Eversource Energy (NYSE:ES - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 5,410 shares of the utilities provider's stock, valued at approximately $311,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ES. Nissay Asset Management Corp Japan ADV grew its holdings in shares of Eversource Energy by 2.1% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 45,553 shares of the utilities provider's stock worth $2,611,000 after purchasing an additional 917 shares during the last quarter. Nomura Holdings Inc. bought a new position in Eversource Energy during the fourth quarter worth about $693,000. NorthRock Partners LLC raised its position in shares of Eversource Energy by 81.7% in the 4th quarter. NorthRock Partners LLC now owns 8,178 shares of the utilities provider's stock valued at $470,000 after acquiring an additional 3,678 shares during the period. Mork Capital Management LLC acquired a new stake in Eversource Energy in the fourth quarter worth $999,000. Finally, Millennium Management LLC grew its holdings in shares of Eversource Energy by 14.0% in the 4th quarter. Millennium Management LLC now owns 760,187 shares of the utilities provider's stock valued at $43,658,000 after buying an additional 93,247 shares during the period. Institutional investors own 79.99% of the company's stock.

Insiders Place Their Bets

In other news, VP Jay S. Buth sold 980 shares of the business's stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $62.99, for a total value of $61,730.20. Following the transaction, the vice president now owns 24,374 shares in the company, valued at $1,535,318.26. The trade was a 3.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Guggenheim reissued a "buy" rating on shares of Eversource Energy in a research note on Monday, February 10th. Wells Fargo & Company lowered their target price on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Scotiabank lowered their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a research report on Thursday, February 13th. Finally, JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $65.78.

Eversource Energy Stock Down 1.9%

Shares of Eversource Energy stock traded down $1.21 during trading hours on Thursday, reaching $62.75. The company's stock had a trading volume of 425,394 shares, compared to its average volume of 2,923,052. The company has a market capitalization of $23.05 billion, a P/E ratio of 27.19, a P/E/G ratio of 2.35 and a beta of 0.61. The stock's fifty day simple moving average is $59.82 and its two-hundred day simple moving average is $59.83. Eversource Energy has a one year low of $52.28 and a one year high of $69.01. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.76 and a current ratio of 0.76.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, meeting the consensus estimate of $1.50. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. The business had revenue of $4.12 billion for the quarter, compared to analysts' expectations of $3.65 billion. During the same quarter last year, the firm earned $1.49 EPS. The firm's revenue for the quarter was up 23.6% compared to the same quarter last year. On average, research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 4.80%. The ex-dividend date is Thursday, May 15th. Eversource Energy's dividend payout ratio (DPR) is presently 129.74%.

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.