Eversource Energy (NYSE:ES) Shares Acquired by Westpac Banking Corp

Westpac Banking Corp increased its holdings in shares of Eversource Energy (NYSE:ES) by 19.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 134,111 shares of the utilities provider’s stock after buying an additional 21,702 shares during the quarter. Westpac Banking Corp’s holdings in Eversource Energy were worth $8,330,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of ES. Nuveen LLC purchased a new position in shares of Eversource Energy during the first quarter valued at $286,130,000. Vest Financial LLC purchased a new position in shares of Eversource Energy during the first quarter valued at $60,273,000. Hsbc Holdings PLC grew its holdings in shares of Eversource Energy by 31.1% during the fourth quarter. Hsbc Holdings PLC now owns 2,719,720 shares of the utilities provider’s stock valued at $155,981,000 after buying an additional 645,257 shares in the last quarter. Northern Trust Corp grew its holdings in shares of Eversource Energy by 18.0% during the fourth quarter. Northern Trust Corp now owns 3,699,583 shares of the utilities provider’s stock valued at $212,467,000 after buying an additional 564,409 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Eversource Energy by 11.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,269 shares of the utilities provider’s stock valued at $316,857,000 after buying an additional 561,055 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the business’s stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the completion of the sale, the executive vice president owned 10,988 shares of the company’s stock, valued at $703,232. The trade was a 19.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ES has been the topic of a number of research analyst reports. Bank of America lifted their price target on Eversource Energy from $62.00 to $67.00 and gave the company 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 lifted their price objective on 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, Mizuho boosted their target price on Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, June 25th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, Eversource Energy has an average rating of “Hold” and a consensus price target of $65.56.

Eversource Energy Stock Performance

Shares of NYSE ES opened at $65.71 on Tuesday. The business’s 50-day moving average price is $64.96 and its two-hundred day moving average price is $62.04. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. Eversource Energy has a one year low of $52.28 and a one year high of $69.01. The company has a market capitalization of $24.38 billion, a P/E ratio of 28.20, a price-to-earnings-growth ratio of 2.43 and a beta of 0.61.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%. The company had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The business’s quarterly revenue was up 12.0% compared to the same quarter last year. Analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

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.