Eversource Energy (NYSE:ES) Position Increased by Mitsubishi UFJ Asset Management Co. Ltd.

Key Points

• Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Eversource Energy by 39%, owning 762,875 shares valued at approximately $47.4 million.
• Eversource Energy reported earnings of $0.96 per share for the last quarter, surpassing analysts' expectations of $0.95, while its revenue was 12% higher compared to the previous year.
• Analysts have raised price targets for Eversource Energy, with BMO Capital Markets increasing theirs from $71 to $72 and Mizuho from $68 to $72, indicating positive sentiment towards the stock.

Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 39.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 762,875 shares of the utilities provider's stock after buying an additional 214,017 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned about 0.21% of Eversource Energy worth $47,382,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new position in shares of Eversource Energy in the fourth quarter worth about $33,000. Rossby Financial LCC acquired a new position in Eversource Energy in the 1st quarter worth approximately $34,000. CoreCap Advisors LLC boosted its stake in Eversource Energy by 168.7% in the 4th quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock worth $35,000 after purchasing an additional 383 shares during the period. First Financial Corp IN boosted its position in shares of Eversource Energy by 3,529.4% in the first quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock worth $38,000 after buying an additional 600 shares during the period. Finally, Quarry LP boosted its position in shares of Eversource Energy by 207.4% in the fourth quarter. Quarry LP now owns 833 shares of the utilities provider's stock worth $48,000 after buying an additional 562 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Insider Activity

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the completion of the sale, the executive vice president owned 10,988 shares of the company's stock, valued at $703,232. The trade was a 19.13% decrease in their ownership of the stock. 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.

Eversource Energy Stock Down 1.3%

Shares of Eversource Energy stock opened at $65.04 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.66. The firm has a market cap of $24.14 billion, a price-to-earnings ratio of 27.91, a P/E/G ratio of 2.43 and a beta of 0.61. The stock has a 50-day simple moving average of $64.95 and a 200-day simple moving average of $61.93. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The company's revenue was up 12.0% compared to the same quarter last year. On average, equities research analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have recently commented on ES shares. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. BMO Capital Markets raised their price objective on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research report on Monday, April 28th. Mizuho raised their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Finally, Bank of America raised their price target on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $65.56.

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.

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