Hsbc Holdings PLC Buys 222,104 Shares of Eversource Energy $ES

Key Points

• Hsbc Holdings PLC increased its stake in Eversource Energy by 8.2%, acquiring an additional 222,104 shares, bringing its total to 2,941,824 shares valued at approximately $182.25 million.
• Eversource Energy's shares opened at $65.6450, with a 52-week range of $52.28 to $69.01, and institutional investors now own almost 80% of the company.
$0.96, exceeding analyst expectations, but its revenue of $2.84 billion fell short of forecasts of $3.01 billion.

Hsbc Holdings PLC lifted its stake in Eversource Energy (NYSE:ES - Free Report) by 8.2% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,941,824 shares of the utilities provider's stock after purchasing an additional 222,104 shares during the period. Hsbc Holdings PLC owned 0.80% of Eversource Energy worth $182,248,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new stake in Eversource Energy during the 4th quarter worth $33,000. Rossby Financial LCC acquired a new stake in shares of Eversource Energy in the 1st quarter valued at about $34,000. CoreCap Advisors LLC raised its stake in shares of Eversource Energy by 168.7% in the 4th quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 383 shares during the period. First Financial Corp IN raised its stake in shares of Eversource Energy by 3,529.4% in the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 600 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Eversource Energy in the 1st quarter valued at about $46,000. Institutional investors and hedge funds own 79.99% of the company's stock.

Eversource Energy Price Performance

Shares of NYSE ES opened at $65.6450 on Wednesday. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. The stock has a market capitalization of $24.36 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 2.43 and a beta of 0.61. The business has a 50-day moving average of $64.98 and a 200-day moving average of $62.34.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The business had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter last year, the company posted $0.95 earnings per share. Eversource Energy's quarterly 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. As a group, sell-side analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several analysts have issued reports on ES shares. Mizuho lifted their price target on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. BMO Capital Markets lifted their price target on Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. Bank of America lifted their price target on Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, Wall Street Zen upgraded Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average price target of $65.56.

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.

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