ING Groep NV Invests $3.25 Million in Eversource Energy (NYSE:ES)

ING Groep NV acquired a new position in Eversource Energy (NYSE:ES) during the third quarter, Holdings Channel reports. The institutional investor acquired 47,797 shares of the utilities provider’s stock, valued at approximately $3,253,000.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Canada Pension Plan Investment Board raised its holdings in shares of Eversource Energy by 6.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 646,334 shares of the utilities provider’s stock valued at $38,631,000 after purchasing an additional 37,219 shares in the last quarter. Bensler LLC acquired a new position in Eversource Energy during the second quarter worth $316,000. M&G Plc raised its holdings in Eversource Energy by 16.8% during the second quarter. M&G Plc now owns 1,626,685 shares of the utilities provider’s stock valued at $92,721,000 after buying an additional 234,361 shares in the last quarter. Virtu Financial LLC acquired a new stake in shares of Eversource Energy in the first quarter worth about $1,280,000. Finally, California State Teachers Retirement System boosted its stake in shares of Eversource Energy by 10.0% during the 1st quarter. California State Teachers Retirement System now owns 847,789 shares of the utilities provider’s stock worth $50,672,000 after acquiring an additional 77,184 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on ES shares. Mizuho boosted their target price on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Barclays raised their target price on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 15th. Morgan Stanley boosted their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, August 23rd. Finally, Bank of America raised their price target on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $70.46.

Eversource Energy Stock Up 0.6 %

ES stock opened at $61.85 on Friday. Eversource Energy has a twelve month low of $52.09 and a twelve month high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The company has a market cap of $22.66 billion, a PE ratio of -39.39, a price-to-earnings-growth ratio of 2.43 and a beta of 0.61. The business’s 50-day simple moving average is $65.24 and its 200 day simple moving average is $62.84.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The business had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the previous year, the business posted $0.97 earnings per share. Eversource Energy’s quarterly revenue was up 9.7% on a year-over-year basis. On average, research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were paid 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 currently -182.17%.

About Eversource Energy

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.