Global X Japan Co. Ltd. Makes New $668,000 Investment in Eversource Energy (NYSE:ES)

Global X Japan Co. Ltd. purchased a new position in Eversource Energy (NYSE:ES) during the first quarter, Holdings Channel reports. The fund purchased 10,750 shares of the utilities provider’s stock, valued at approximately $668,000.

Other hedge funds also recently made changes to their positions in the company. Mizuho Bank Ltd. purchased a new position in Eversource Energy during the 4th quarter valued at about $26,000. Kestra Investment Management LLC purchased a new position in Eversource Energy during the 4th quarter valued at about $29,000. Assetmark Inc. increased its holdings in Eversource Energy by 99.2% during the 4th quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after purchasing an additional 254 shares during the period. Pinney & Scofield Inc. purchased a new position in shares of Eversource Energy during the fourth quarter valued at approximately $33,000. Finally, Venturi Wealth Management LLC increased its stake in shares of Eversource Energy by 104.5% during the fourth quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock valued at $34,000 after buying an additional 301 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Price Performance

Shares of ES stock opened at $62.37 on Thursday. The stock has a market cap of $22.91 billion, a price-to-earnings ratio of 26.88, a PEG ratio of 2.35 and a beta of 0.63. The business’s fifty day moving average is $61.77 and its 200 day moving average is $60.14. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $69.01. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last released its earnings results on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, hitting analysts’ consensus estimates of $1.50. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.65 billion. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. The company’s revenue was up 23.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.49 EPS. Research analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.83%. The ex-dividend date of this dividend is Thursday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is presently 129.74%.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. JPMorgan Chase & Co. reissued an “underweight” rating and set a $58.00 target price (down from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. BMO Capital Markets boosted their price objective on shares of Eversource Energy from $71.00 to $72.00 and gave the company a “market perform” rating in a research report on Monday, April 28th. Finally, Wall Street Zen raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 16th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, Eversource Energy has an average rating of “Hold” and an average price target of $65.78.

Insiders Place Their Bets

In related news, EVP Penelope M. Conner sold 2,600 shares of the company’s stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the sale, the executive vice president now owns 10,988 shares in the company, valued at $703,232. This represents a 19.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.41% of the company’s stock.

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.