MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Grows Stock Holdings in Eversource Energy $ES

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Eversource Energy by 30.4%, owning 92,247 shares valued at approximately $5.7 million after acquiring 21,524 additional shares in the first quarter.
• Wall Street analysts have upgraded Eversource Energy's rating, with Mizuho increasing the target price from $68.00 to $72.00 and labeling the stock as "outperform."
• Eversource Energy reported earnings of $0.96 per share for the last quarter, slightly beating analyst estimates, despite a revenue that was below expectations at $2.84 billion.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 30.4% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 92,247 shares of the utilities provider's stock after buying an additional 21,524 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in Eversource Energy were worth $5,711,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. lifted its position in Eversource Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider's stock valued at $2,792,559,000 after purchasing an additional 351,780 shares during the period. Wellington Management Group LLP lifted its position in Eversource Energy by 4.5% in the first quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider's stock valued at $1,068,901,000 after purchasing an additional 739,448 shares during the period. Magellan Asset Management Ltd lifted its position in Eversource Energy by 6.2% in the first quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider's stock valued at $427,090,000 after purchasing an additional 401,866 shares during the period. Invesco Ltd. lifted its position in Eversource Energy by 0.5% in the first quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider's stock valued at $374,920,000 after purchasing an additional 32,304 shares during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eversource Energy by 11.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,269 shares of the utilities provider's stock valued at $316,857,000 after purchasing an additional 561,055 shares during the period. Institutional investors and hedge funds own 79.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ES shares. Bank of America raised their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Mizuho increased their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Finally, Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat.com, Eversource Energy currently has an average rating of "Hold" and an average price target of $64.38.

Eversource Energy Price Performance

Shares of ES traded up $0.60 during mid-day trading on Friday, reaching $65.65. 2,168,881 shares of the company's stock were exchanged, compared to its average volume of 2,362,623. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. The company has a 50-day simple moving average of $65.15 and a two-hundred day simple moving average of $62.73. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $68.73. The company has a market cap of $24.37 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.44 and a beta of 0.64.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The business had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same period last year, the company posted $0.95 EPS. The company's revenue was up 12.0% on a year-over-year basis. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, sell-side analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date of this dividend is Monday, September 22nd. Eversource Energy's dividend payout ratio (DPR) is 129.18%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of the company's stock in a transaction dated Friday, August 22nd. The stock was acquired at an average cost of $66.07 per share, with a total value of $249,744.60. Following the purchase, the insider directly owned 12,033 shares in the company, valued at approximately $795,020.31. This trade represents a 45.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this link. 0.41% of the stock is currently owned by company insiders.

About Eversource Energy

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.