ING Groep NV Takes Position in Eversource Energy (NYSE:ES)

ING Groep NV acquired a new position in Eversource Energy (NYSE:ES) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 47,797 shares of the utilities provider’s stock, valued at approximately $3,253,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Public Sector Pension Investment Board lifted its stake in shares of Eversource Energy by 0.6% in the 2nd quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock worth $191,979,000 after acquiring an additional 20,207 shares during the period. Bank of New York Mellon Corp raised its holdings in Eversource Energy by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock worth $177,823,000 after purchasing an additional 354,429 shares in the last quarter. ClearBridge Investments Ltd acquired a new stake in Eversource Energy in the first quarter worth approximately $156,093,000. Zimmer Partners LP boosted its stake in Eversource Energy by 730.4% during the 1st quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock valued at $151,642,000 after purchasing an additional 2,231,585 shares in the last quarter. Finally, Hsbc Holdings PLC increased its position in shares of Eversource Energy by 26.9% during the 2nd quarter. Hsbc Holdings PLC now owns 1,765,481 shares of the utilities provider’s stock valued at $100,110,000 after purchasing an additional 374,458 shares during the period. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

ES opened at $61.85 on Friday. The firm has a market capitalization of $22.66 billion, a P/E ratio of -39.39, a PEG ratio of 2.43 and a beta of 0.61. The stock has a fifty day moving average of $65.24 and a 200-day moving average of $62.84. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. Eversource Energy has a 12-month low of $52.09 and a 12-month high of $69.01.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.05. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.06 billion. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the business earned $0.97 EPS. Equities analysts forecast that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were given a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a yield of 4.62%. Eversource Energy’s payout ratio is -182.17%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Bank of America upped their price objective on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Morgan Stanley upped their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Scotiabank lifted their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Finally, Wells Fargo & Company lifted their price target on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Eight research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $70.46.

Eversource Energy Company 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.