Dai ichi Life Insurance Company Ltd Purchases 230,000 Shares of Eversource Energy (NYSE:ES)

Dai ichi Life Insurance Company Ltd boosted its holdings in Eversource Energy (NYSE:ES - Free Report) by 994.8% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 253,120 shares of the utilities provider's stock after purchasing an additional 230,000 shares during the quarter. Dai ichi Life Insurance Company Ltd owned about 0.07% of Eversource Energy worth $15,623,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Victory Capital Management Inc. grew its position in Eversource Energy by 10.8% in the 3rd quarter. Victory Capital Management Inc. now owns 450,007 shares of the utilities provider's stock valued at $26,168,000 after buying an additional 43,720 shares during the last quarter. OLD Republic International Corp purchased a new position in shares of Eversource Energy during the 3rd quarter worth approximately $27,283,000. Cerity Partners LLC boosted its stake in shares of Eversource Energy by 536.0% in the fourth quarter. Cerity Partners LLC now owns 118,243 shares of the utilities provider's stock valued at $7,298,000 after buying an additional 99,652 shares in the last quarter. AGF Management Ltd. grew its holdings in Eversource Energy by 53.9% during the fourth quarter. AGF Management Ltd. now owns 38,510 shares of the utilities provider's stock worth $2,377,000 after acquiring an additional 13,493 shares during the period. Finally, Los Angeles Capital Management LLC raised its position in Eversource Energy by 51.0% in the fourth quarter. Los Angeles Capital Management LLC now owns 182,844 shares of the utilities provider's stock worth $11,285,000 after acquiring an additional 61,732 shares in the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Trading Up 0.7 %

Shares of Eversource Energy stock traded up $0.44 during trading hours on Tuesday, reaching $61.22. 1,584,955 shares of the company's stock were exchanged, compared to its average volume of 2,768,544. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $74.81. The company has a fifty day moving average of $59.66 and a 200-day moving average of $58.76. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $21.57 billion, a price-to-earnings ratio of -51.88, a price-to-earnings-growth ratio of 2.36 and a beta of 0.57.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. During the same period last year, the company earned $1.41 EPS. The firm's quarterly revenue was down 12.2% on a year-over-year basis. Sell-side analysts forecast that Eversource Energy will post 4.53 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be given a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.67%. The ex-dividend date is Wednesday, May 15th. Eversource Energy's dividend payout ratio (DPR) is presently -242.37%.

Insider Transactions at Eversource Energy

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now directly owns 10,485 shares of the company's stock, valued at $609,388.20. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, insider Frederica M. Williams sold 2,714 shares of the business's stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the transaction, the insider now directly owns 21,621 shares of the company's stock, valued at approximately $1,245,369.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the sale, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The disclosure for this sale can be found here. Company insiders own 0.29% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on ES shares. Wells Fargo & Company increased their price target on shares of Eversource Energy from $69.00 to $72.00 and gave the company an "overweight" rating in a report on Friday, May 3rd. Guggenheim upgraded Eversource Energy from a "neutral" rating to a "buy" rating and upped their price target for the stock from $60.00 to $72.00 in a report on Monday, January 22nd. Barclays reduced their price objective on Eversource Energy from $66.00 to $61.00 and set an "equal weight" rating for the company in a report on Monday, January 22nd. Bank of America upped their target price on Eversource Energy from $50.00 to $61.00 and gave the company an "underperform" rating in a report on Wednesday, May 15th. Finally, Argus cut their price target on Eversource Energy from $85.00 to $68.00 and set a "buy" rating for the company in a research note on Monday, March 25th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $65.86.

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.