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

ING Groep NV raised its holdings in shares of Eversource Energy (NYSE:ESFree Report) by 9.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,824 shares of the utilities provider’s stock after buying an additional 3,999 shares during the period. ING Groep NV’s holdings in Eversource Energy were worth $2,952,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Exchange Traded Concepts LLC purchased a new position in shares of Eversource Energy during the fourth quarter valued at approximately $26,000. Bfsg LLC purchased a new position in shares of Eversource Energy during the fourth quarter valued at approximately $31,000. Hexagon Capital Partners LLC boosted its position in shares of Eversource Energy by 84.0% during the fourth quarter. Hexagon Capital Partners LLC now owns 596 shares of the utilities provider’s stock valued at $37,000 after buying an additional 272 shares during the period. CVA Family Office LLC purchased a new position in shares of Eversource Energy during the fourth quarter valued at approximately $43,000. Finally, MV Capital Management Inc. boosted its position in shares of Eversource Energy by 40.4% during the third quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after buying an additional 206 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Guggenheim upgraded Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $60.00 to $72.00 in a report on Monday, January 22nd. Wells Fargo & Company boosted their price target on Eversource Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a report on Friday, May 3rd. Argus lowered their price target on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a report on Monday, March 25th. UBS Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $62.00 to $67.00 in a report on Thursday, April 4th. Finally, BMO Capital Markets boosted their price target on Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a report on Friday, May 3rd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $65.86.

Check Out Our Latest Analysis on ES

Eversource Energy Stock Performance

Shares of ES stock opened at $60.78 on Tuesday. The business’s fifty day simple moving average is $59.63 and its 200-day simple moving average is $58.71. The company has a market cap of $21.41 billion, a PE ratio of -51.51, a PEG ratio of 2.36 and a beta of 0.57. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $74.81.

Eversource Energy (NYSE:ESGet 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. The business had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.69 billion. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The business’s quarterly revenue was down 12.2% on a year-over-year basis. During the same period in the prior year, the firm posted $1.41 earnings per share. Analysts expect that Eversource Energy will post 4.53 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders 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 dividend yield of 4.71%. The ex-dividend date of this dividend is Wednesday, May 15th. Eversource Energy’s payout ratio is presently -242.37%.

Insider Transactions at Eversource Energy

In other news, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the sale, the insider now directly owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction 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 sale, 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 Securities & Exchange Commission, which is available through this link. Also, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the sale, the insider now directly owns 21,621 shares in the company, valued at $1,245,369.60. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Eversource Energy Company Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

Receive News & Ratings for Eversource Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eversource Energy and related companies with MarketBeat.com's FREE daily email newsletter.