Global X Japan Co. Ltd. Buys New Position in Eversource Energy (NYSE:ES)

Global X Japan Co. Ltd. acquired a new stake in Eversource Energy (NYSE:ES - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 10,750 shares of the utilities provider's stock, valued at approximately $668,000.

Several other institutional investors have also modified their holdings of the company. Blue Trust Inc. raised its position in shares of Eversource Energy by 14.0% during the fourth quarter. Blue Trust Inc. now owns 2,676 shares of the utilities provider's stock worth $154,000 after purchasing an additional 329 shares during the period. Principal Securities Inc. raised its position in shares of Eversource Energy by 24.5% during the fourth quarter. Principal Securities Inc. now owns 2,093 shares of the utilities provider's stock worth $120,000 after purchasing an additional 412 shares during the period. Allworth Financial LP raised its position in shares of Eversource Energy by 19.6% during the fourth quarter. Allworth Financial LP now owns 9,285 shares of the utilities provider's stock worth $518,000 after purchasing an additional 1,522 shares during the period. Principal Financial Group Inc. raised its position in shares of Eversource Energy by 1.0% during the fourth quarter. Principal Financial Group Inc. now owns 418,205 shares of the utilities provider's stock worth $24,018,000 after purchasing an additional 4,331 shares during the period. Finally, CIBC Asset Management Inc raised its position in shares of Eversource Energy by 6.5% during the fourth quarter. CIBC Asset Management Inc now owns 55,454 shares of the utilities provider's stock worth $3,185,000 after purchasing an additional 3,400 shares during the period. Institutional investors and hedge funds own 79.99% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ES. BMO Capital Markets boosted their target price 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. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Finally, JPMorgan Chase & Co. reissued an "underweight" rating and set a $58.00 price target (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 issued a hold rating and three have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $65.78.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 2,600 shares of the company's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total transaction of $166,400.00. Following the completion of the sale, the executive vice president now owns 10,988 shares in the company, valued at approximately $703,232. This represents a 19.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Eversource Energy Stock Up 0.1%

NYSE ES traded up $0.07 on Friday, reaching $62.47. The stock had a trading volume of 5,066,332 shares, compared to its average volume of 2,474,577. The business has a 50 day moving average price of $61.91 and a 200 day moving average price of $60.13. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.71. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The company has a market capitalization of $22.95 billion, a price-to-earnings ratio of 26.93, a P/E/G ratio of 2.32 and a beta of 0.63.

Eversource Energy (NYSE:ES - Get Free Report) last issued its earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, meeting analysts' consensus estimates of $1.50. Eversource Energy had a return on equity of 11.04% and a net margin of 6.63%. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the previous year, the company posted $1.49 earnings per share. The business's quarterly revenue was up 23.6% compared to the same quarter last year. On average, analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Stockholders of record on Thursday, May 15th will be paid a dividend of $0.7525 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.01 annualized dividend and a dividend yield of 4.82%. Eversource Energy's dividend payout ratio (DPR) is presently 129.74%.

Eversource Energy Company 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.