Sumitomo Mitsui DS Asset Management Company Ltd Has $4.17 Million Stock Holdings in Eversource Energy (NYSE:ES)

Sumitomo Mitsui DS Asset Management Company Ltd grew its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 12.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,089 shares of the utilities provider's stock after acquiring an additional 7,671 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Eversource Energy were worth $4,167,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its position in shares of Eversource Energy by 38.6% during the 4th quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock valued at $945,893,000 after buying an additional 4,585,232 shares during the last quarter. Norges Bank acquired a new position in Eversource Energy in the fourth quarter valued at approximately $188,838,000. Amundi boosted its stake in Eversource Energy by 32.2% in the fourth quarter. Amundi now owns 6,482,546 shares of the utilities provider's stock valued at $367,691,000 after acquiring an additional 1,579,818 shares during the period. Vanguard Group Inc. boosted its stake in Eversource Energy by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock valued at $2,561,936,000 after acquiring an additional 1,387,072 shares during the period. Finally, Vest Financial LLC acquired a new position in Eversource Energy in the first quarter valued at approximately $60,273,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Price Performance

NYSE:ES traded down $0.15 during midday trading on Monday, hitting $64.40. 1,644,566 shares of the stock were exchanged, compared to its average volume of 2,495,006. Eversource Energy has a one year low of $52.28 and a one year high of $69.01. The company has a market capitalization of $23.66 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 2.40 and a beta of 0.62. The business has a 50-day moving average price of $63.33 and a two-hundred day moving average price of $60.51. 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 (NYSE:ES - Get Free Report) last announced its earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, hitting the consensus estimate of $1.50. The firm had revenue of $4.12 billion for the quarter, compared to analysts' expectations of $3.65 billion. Eversource Energy had a return on equity of 11.04% and a net margin of 6.63%. The firm's quarterly revenue was up 23.6% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.49 earnings per share. Sell-side analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, June 30th. Shareholders of record on Thursday, May 15th were issued a $0.7525 dividend. The ex-dividend date of this dividend was Thursday, May 15th. This represents a $3.01 annualized dividend and a dividend yield of 4.67%. Eversource Energy's dividend payout ratio is currently 129.74%.

Insider Transactions at Eversource Energy

In other Eversource Energy 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 sale, the executive vice president directly owned 10,988 shares of the company's stock, valued at $703,232. The trade was a 19.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ES has been the subject of a number of research reports. Wall Street Zen upgraded Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. BMO Capital Markets lifted their target price 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. Mizuho lifted 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. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and set a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Three 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's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $65.67.

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.