Hsbc Holdings PLC Grows Position in Eversource Energy (NYSE:ES)

Hsbc Holdings PLC raised its position in shares of Eversource Energy (NYSE:ES - Free Report) by 31.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,719,720 shares of the utilities provider's stock after buying an additional 645,257 shares during the period. Hsbc Holdings PLC owned about 0.74% of Eversource Energy worth $155,981,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Mizuho Bank Ltd. purchased a new position in shares of Eversource Energy in the 4th quarter valued at about $26,000. Kestra Investment Management LLC purchased a new position in Eversource Energy in the fourth quarter worth approximately $29,000. Assetmark Inc. lifted its stake in Eversource Energy by 99.2% in the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider's stock worth $29,000 after acquiring an additional 254 shares during the last quarter. Venturi Wealth Management LLC grew its holdings in Eversource Energy by 104.5% during the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider's stock worth $34,000 after acquiring an additional 301 shares in the last quarter. Finally, OFI Invest Asset Management purchased a new stake in shares of Eversource Energy in the 4th quarter valued at approximately $35,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ES has been the subject of a number of analyst reports. Jefferies Financial Group lowered their target price on shares of Eversource Energy from $52.00 to $47.00 and set an "underperform" rating for the company in a research note on Tuesday, January 28th. Scotiabank lowered their price objective on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a research report on Thursday, February 13th. BMO Capital Markets raised 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. Guggenheim reaffirmed a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. Finally, Wells Fargo & Company dropped their price target on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating on the stock in a research note on Thursday, February 13th. Four investment analysts have rated the stock with a sell rating, four have assigned a hold rating and three have issued a buy rating to the company. According to MarketBeat.com, Eversource Energy currently has an average rating of "Hold" and a consensus price target of $65.78.

Insider Buying and Selling at Eversource Energy

In other news, insider Frederica M. Williams sold 3,092 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the sale, the insider now directly owns 22,671 shares of the company's stock, valued at $1,411,496.46. This trade represents a 12.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Jay S. Buth sold 980 shares of the company's stock in a transaction on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the transaction, the vice president now directly owns 24,374 shares in the company, valued at approximately $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company's stock.

Eversource Energy Stock Performance

Shares of ES traded up $0.90 during mid-day trading on Monday, reaching $58.76. 2,188,647 shares of the company's stock were exchanged, compared to its average volume of 2,349,522. The business's fifty day simple moving average is $59.86 and its 200-day simple moving average is $60.26. The stock has a market capitalization of $21.57 billion, a PE ratio of 25.43, a price-to-earnings-growth ratio of 2.35 and a beta of 0.58. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.76 and a quick ratio of 0.76.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating analysts' consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. On average, equities research analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th were given a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 5.12%. This is a boost from Eversource Energy's previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Tuesday, March 4th. Eversource Energy's dividend payout ratio (DPR) is presently 130.30%.

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.