Y Intercept Hong Kong Ltd Invests $652,000 in Eversource Energy (NYSE:ES)

Key Points

• Y Intercept Hong Kong Ltd purchased a new stake in Eversource Energy, acquiring 10,497 shares valued at approximately $652,000, indicating strong institutional interest in the company.
• Eversource Energy reported earnings of $1.50 per share, meeting analysts' expectations, with a revenue increase of 23.6% year-over-year, totaling $4.12 billion for the quarter.
• The company announced a quarterly dividend of $0.7525, representing an annual yield of 4.52%, although its dividend payout ratio stands at a high 129.74%.

Y Intercept Hong Kong Ltd purchased a new stake in shares of Eversource Energy (NYSE:ES - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 10,497 shares of the utilities provider's stock, valued at approximately $652,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Ballentine Partners LLC raised its position in shares of Eversource Energy by 4.9% in the first quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider's stock valued at $369,000 after purchasing an additional 277 shares during the period. Farther Finance Advisors LLC raised its holdings in Eversource Energy by 105.6% in the 1st quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider's stock worth $287,000 after acquiring an additional 2,374 shares during the period. LSV Asset Management acquired a new position in Eversource Energy during the 4th quarter worth $2,223,000. Golden State Wealth Management LLC boosted its holdings in Eversource Energy by 233.9% during the first quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider's stock valued at $52,000 after acquiring an additional 580 shares during the period. Finally, JPMorgan Chase & Co. grew its position in shares of Eversource Energy by 10.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,569,671 shares of the utilities provider's stock valued at $90,146,000 after purchasing an additional 151,562 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Insider Transactions at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the company's stock in a transaction dated 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 approximately $703,232. This represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is owned by corporate insiders.

Eversource Energy Price Performance

NYSE:ES traded down $1.42 during mid-day trading on Monday, hitting $65.20. The company's stock had a trading volume of 1,695,081 shares, compared to its average volume of 2,748,627. The company has a market capitalization of $23.95 billion, a price-to-earnings ratio of 28.10, a P/E/G ratio of 2.49 and a beta of 0.62. 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 fifty-two week low of $52.28 and a fifty-two week high of $69.01. The stock has a fifty day moving average of $64.59 and a 200-day moving average of $61.35.

Eversource Energy (NYSE:ES - Get Free Report) last posted its earnings results on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, hitting the consensus estimate of $1.50. Eversource Energy had a return on equity of 11.04% and a net margin of 6.63%. The business had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter last year, the company earned $1.49 EPS. Eversource Energy's revenue was up 23.6% on a year-over-year basis. As a group, equities analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, May 15th were given a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.62%. The ex-dividend date of this dividend was Thursday, May 15th. Eversource Energy's dividend payout ratio (DPR) is currently 129.74%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in 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. Mizuho increased their price objective on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. JPMorgan Chase & Co. restated an "underweight" rating and issued a $58.00 price objective (down previously from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. BMO Capital Markets upped their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. 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 research report on Monday, July 21st. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from 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.