Hsbc Holdings PLC Acquires 222,104 Shares of Eversource Energy $ES

Hsbc Holdings PLC increased its holdings in shares of Eversource Energy (NYSE:ES) by 8.2% in the first quarter, HoldingsChannel reports. The firm owned 2,941,824 shares of the utilities provider’s stock after buying an additional 222,104 shares during the period. Hsbc Holdings PLC’s holdings in Eversource Energy were worth $182,248,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ES. Jump Financial LLC grew its holdings in Eversource Energy by 100.3% during the fourth quarter. Jump Financial LLC now owns 14,650 shares of the utilities provider’s stock worth $841,000 after purchasing an additional 7,336 shares during the period. Marshall Wace LLP boosted its holdings in shares of Eversource Energy by 134.0% during the fourth quarter. Marshall Wace LLP now owns 53,179 shares of the utilities provider’s stock worth $3,054,000 after acquiring an additional 30,455 shares during the period. First Trust Advisors LP boosted its holdings in shares of Eversource Energy by 10.3% during the fourth quarter. First Trust Advisors LP now owns 1,323,851 shares of the utilities provider’s stock worth $76,029,000 after acquiring an additional 123,808 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of Eversource Energy by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,444,453 shares of the utilities provider’s stock worth $82,954,000 after acquiring an additional 38,019 shares during the period. Finally, Norinchukin Bank The boosted its holdings in shares of Eversource Energy by 19.5% during the fourth quarter. Norinchukin Bank The now owns 19,457 shares of the utilities provider’s stock worth $1,117,000 after acquiring an additional 3,171 shares during the period. Institutional investors own 79.99% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ES. Bank of America boosted their price objective on Eversource Energy from $62.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Wall Street Zen upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, May 16th. BMO Capital Markets boosted their price objective on Eversource Energy from $71.00 to $72.00 and gave the stock a “market perform” rating in a report on Monday, April 28th. Finally, Mizuho boosted their price objective on Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, June 25th. Three investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $65.56.

Eversource Energy Stock Up 1.7%

NYSE ES opened at $65.6450 on Wednesday. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $69.01. The company has a 50 day moving average of $64.98 and a 200-day moving average of $62.34. The company has a market cap of $24.36 billion, a price-to-earnings ratio of 28.17, a PEG ratio of 2.43 and a beta of 0.61.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the business earned $0.95 earnings per share. The firm’s quarterly revenue was up 12.0% on a year-over-year basis. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, equities research analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

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.