Eversource Energy $ES Shares Purchased by Resona Asset Management Co. Ltd.

Key Points

• Resona Asset Management Co. Ltd. increased its stake in Eversource Energy by 38.0%, acquiring an additional 41,818 shares during the first quarter, bringing its total holdings to $9,380,000.
• Several institutional investors, including Nuveen LLC and Hsbc Holdings PLC, have significantly increased their positions in Eversource Energy, with institutional ownership now at 79.99%.
• Analysts have set varying price targets for Eversource Energy, with Mizuho raising its target to $72.00 and three analysts rating the stock as a "buy," while the consensus average target price stands at $65.56.

Resona Asset Management Co. Ltd. grew its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 38.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 151,836 shares of the utilities provider's stock after acquiring an additional 41,818 shares during the period. Resona Asset Management Co. Ltd.'s holdings in Eversource Energy were worth $9,380,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new stake in Eversource Energy in the first quarter valued at $286,130,000. Vest Financial LLC acquired a new position in Eversource Energy during the first quarter worth about $60,273,000. Hsbc Holdings PLC lifted its holdings in shares of Eversource Energy by 31.1% in the fourth quarter. Hsbc Holdings PLC now owns 2,719,720 shares of the utilities provider's stock valued at $155,981,000 after purchasing an additional 645,257 shares in the last quarter. Northern Trust Corp grew its position in shares of Eversource Energy by 18.0% in the fourth quarter. Northern Trust Corp now owns 3,699,583 shares of the utilities provider's stock valued at $212,467,000 after purchasing an additional 564,409 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Eversource Energy by 11.3% during the 4th 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 worth $316,857,000 after purchasing an additional 561,055 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company's stock.

Eversource Energy Trading Down 1.6%

NYSE:ES traded down $1.02 during mid-day trading on Monday, reaching $64.51. The company's stock had a trading volume of 569,256 shares, compared to its average volume of 2,682,714. 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 cap of $23.94 billion, a P/E ratio of 27.70, a P/E/G ratio of 2.46 and a beta of 0.61. The company's fifty day simple moving average is $65.01 and its two-hundred day simple moving average is $62.26. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $3.01 billion. During the same period last year, the company earned $0.95 earnings per share. The company's quarterly revenue was up 12.0% on a year-over-year basis. On average, equities analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on ES shares. Mizuho upped their target price 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 upped their price objective on Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. Bank of America lifted their price objective on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Finally, Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Three investment 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 has a consensus rating of "Hold" and an average target price of $65.56.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 2,600 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the transaction, the executive vice president directly owned 10,988 shares of the company's stock, valued at approximately $703,232. The trade was a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 0.19% of the company's stock.

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.