Y Intercept Hong Kong Ltd Acquires 13,222 Shares of Eversource Energy $ES

Y Intercept Hong Kong Ltd grew its stake in Eversource Energy (NYSE:ES) by 31.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 55,401 shares of the utilities provider’s stock after acquiring an additional 13,222 shares during the period. Y Intercept Hong Kong Ltd’s holdings in Eversource Energy were worth $3,941,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in ES. Norges Bank acquired a new stake in shares of Eversource Energy in the 2nd quarter valued at approximately $274,744,000. Lazard Asset Management LLC raised its holdings in shares of Eversource Energy by 43,905.7% in the 2nd quarter. Lazard Asset Management LLC now owns 2,692,707 shares of the utilities provider’s stock valued at $171,309,000 after purchasing an additional 2,686,588 shares during the period. Covalis Capital LLP acquired a new stake in Eversource Energy in the 2nd quarter valued at about $71,377,000. Panagora Asset Management Inc. grew its holdings in Eversource Energy by 310.1% during the second quarter. Panagora Asset Management Inc. now owns 1,110,122 shares of the utilities provider’s stock worth $70,626,000 after purchasing an additional 839,459 shares during the period. Finally, First Trust Advisors LP increased its position in Eversource Energy by 50.7% during the second quarter. First Trust Advisors LP now owns 2,074,159 shares of the utilities provider’s stock worth $131,958,000 after buying an additional 697,820 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Activity

In related news, EVP James W. Hunt III sold 4,129 shares of Eversource Energy stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $72.77, for a total value of $300,467.33. Following the transaction, the executive vice president directly owned 32,415 shares of the company’s stock, valued at $2,358,839.55. This trade represents a 11.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 0.19% of the company’s stock.

Eversource Energy Trading Down 1.3%

Shares of ES stock opened at $69.54 on Monday. The stock has a market cap of $26.09 billion, a P/E ratio of 19.05, a price-to-earnings-growth ratio of 2.36 and a beta of 0.76. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $75.25. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. The stock has a 50 day simple moving average of $67.79 and a 200 day simple moving average of $68.10.

Eversource Energy (NYSE:ES) last announced 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 return on equity of 11.06% and a net margin of 10.22%.The firm had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same period in the previous year, the firm earned $1.13 EPS. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, 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 declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were issued a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date of this dividend was Wednesday, December 17th. Eversource Energy’s dividend payout ratio is 82.47%.

Analysts Set New Price Targets

Several research analysts have recently commented on the company. BMO Capital Markets reduced their target price on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a research note on Thursday, November 6th. Scotiabank decreased their price objective on shares of Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a report on Thursday, November 20th. JPMorgan Chase & Co. cut their target price on shares of Eversource Energy from $72.00 to $71.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. UBS Group lowered their price target on shares of Eversource Energy from $78.00 to $73.00 and set a “neutral” rating on the stock in a report on Wednesday, December 17th. Finally, TD Cowen initiated coverage on Eversource Energy in a report on Thursday, October 16th. They set a “hold” rating and a $76.00 price objective for the company. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and a consensus price target of $71.50.

About Eversource Energy

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.