Eversource Energy $ES Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC raised its holdings in shares of Eversource Energy (NYSE:ES) by 2.4% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,013,674 shares of the utilities provider’s stock after buying an additional 71,850 shares during the period. Hsbc Holdings PLC owned about 0.81% of Eversource Energy worth $191,773,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Neo Ivy Capital Management acquired a new stake in shares of Eversource Energy during the 2nd quarter valued at $26,000. Trust Co. of Toledo NA OH acquired a new stake in shares of Eversource Energy during the second quarter worth $28,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of Eversource Energy during the second quarter valued at $31,000. Hilltop National Bank acquired a new position in shares of Eversource Energy in the 2nd quarter valued at $32,000. Finally, True Wealth Design LLC boosted its position in shares of Eversource Energy by 540.0% in the 2nd quarter. True Wealth Design LLC now owns 608 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 513 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Transactions at Eversource Energy

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the transaction, the executive vice president owned 32,415 shares in the company, valued at $2,358,839.55. The trade was a 11.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.41% of the company’s stock.

Eversource Energy Price Performance

NYSE ES opened at $67.18 on Friday. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64. The firm has a market capitalization of $25.21 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 2.92 and a beta of 0.69. The company has a 50 day simple moving average of $71.36 and a 200-day simple moving average of $66.98. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $75.25.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.07. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The firm had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same quarter in the prior year, the business earned $1.13 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. Equities research analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s dividend payout ratio (DPR) is currently 82.47%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research note on Friday, October 31st. UBS Group downgraded shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 target price on the stock. in a research report on Thursday, November 6th. Jefferies Financial Group restated an “underperform” rating on shares of Eversource Energy in a research report on Monday. TD Cowen began coverage on shares of Eversource Energy in a research note on Thursday, October 16th. They issued a “hold” rating and a $76.00 price objective for the company. Finally, Janney Montgomery Scott upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price objective on the stock in a research report on Monday, November 24th. Three equities research analysts have rated the stock with a Buy rating, seven have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and an average price target of $70.55.

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.