Y Intercept Hong Kong Ltd Has $3.94 Million Stock Position in Eversource Energy $ES

Y Intercept Hong Kong Ltd boosted its stake in Eversource Energy (NYSE:ES) by 31.3% in the third quarter, HoldingsChannel.com reports. The firm owned 55,401 shares of the utilities provider’s stock after buying 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 hedge funds have also recently added to or reduced their stakes in ES. Vanguard Group Inc. raised its stake in Eversource Energy by 1.5% during the second quarter. Vanguard Group Inc. now owns 45,652,661 shares of the utilities provider’s stock worth $2,904,422,000 after buying an additional 691,165 shares during the last quarter. State Street Corp boosted its holdings in Eversource Energy by 1.7% in the second quarter. State Street Corp now owns 27,343,038 shares of the utilities provider’s stock worth $1,739,564,000 after acquiring an additional 465,822 shares in the last quarter. Geode Capital Management LLC grew its position in Eversource Energy by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 9,273,415 shares of the utilities provider’s stock valued at $587,449,000 after purchasing an additional 211,962 shares during the period. Magellan Asset Management Ltd grew its holdings in shares of Eversource Energy by 1.1% during the second quarter. Magellan Asset Management Ltd now owns 6,952,127 shares of the utilities provider’s stock valued at $442,294,000 after buying an additional 75,784 shares during the last quarter. Finally, Norges Bank bought a new position in Eversource Energy in the 2nd quarter valued at about $274,744,000. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Down 1.3%

Shares of NYSE:ES opened at $69.54 on Monday. The company has a market capitalization of $26.09 billion, a PE 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 debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64. The business has a fifty day moving average price of $67.79 and a two-hundred day moving average price of $68.10.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results 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. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The firm’s revenue for the quarter was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.13 earnings per share. Analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 17th were paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date was Wednesday, December 17th. Eversource Energy’s payout ratio is currently 82.47%.

Insider Buying and Selling at Eversource Energy

In other news, EVP James W. Hunt III sold 4,129 shares of Eversource Energy stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the transaction, the executive vice president owned 32,415 shares in the company, valued at $2,358,839.55. This trade represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages have commented on ES. BMO Capital Markets decreased their price objective on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a report on Thursday, November 6th. Wells Fargo & Company lowered Eversource Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $79.00 to $63.00 in a research report on Wednesday, November 19th. TD Cowen initiated coverage on Eversource Energy in a research note on Thursday, October 16th. They set a “hold” rating and a $76.00 price objective on the stock. Jefferies Financial Group reiterated an “underperform” rating on shares of Eversource Energy in a research note on Monday, November 24th. Finally, JPMorgan Chase & Co. lowered their target price on shares of Eversource Energy from $72.00 to $71.00 and set an “underweight” rating for the company in a report on Friday, December 12th. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $71.50.

Eversource Energy Company Profile

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.