Nomura Asset Management Co. Ltd. Has $55.10 Million Stake in Eversource Energy $ES

Nomura Asset Management Co. Ltd. reduced its stake in shares of Eversource Energy (NYSE:ES) by 3.8% in the 2nd quarter, Holdings Channel reports. The firm owned 866,007 shares of the utilities provider’s stock after selling 34,456 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Eversource Energy were worth $55,095,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Victory Capital Management Inc. raised its position in shares of Eversource Energy by 106.9% during the first quarter. Victory Capital Management Inc. now owns 446,122 shares of the utilities provider’s stock worth $27,709,000 after acquiring an additional 230,461 shares during the last quarter. Private Advisor Group LLC lifted its position in shares of Eversource Energy by 1.8% in the 1st quarter. Private Advisor Group LLC now owns 15,595 shares of the utilities provider’s stock worth $969,000 after purchasing an additional 270 shares during the period. Csenge Advisory Group lifted its position in shares of Eversource Energy by 11.3% in the 1st quarter. Csenge Advisory Group now owns 6,892 shares of the utilities provider’s stock worth $396,000 after purchasing an additional 697 shares during the period. Kestra Private Wealth Services LLC boosted its stake in shares of Eversource Energy by 6.7% in the 1st quarter. Kestra Private Wealth Services LLC now owns 57,042 shares of the utilities provider’s stock valued at $3,543,000 after purchasing an additional 3,566 shares during the last quarter. Finally, South Dakota Investment Council boosted its stake in shares of Eversource Energy by 9.5% in the 1st quarter. South Dakota Investment Council now owns 36,766 shares of the utilities provider’s stock valued at $2,284,000 after purchasing an additional 3,200 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

ES has been the topic of several recent analyst reports. Mizuho boosted their target price on shares of Eversource Energy from $72.00 to $81.00 and gave the company an “outperform” rating in a report on Monday, October 27th. Bank of America raised Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $73.00 to $85.00 in a research note on Tuesday, October 21st. TD Cowen started coverage on Eversource Energy in a research note on Thursday, October 16th. They set a “hold” rating and a $76.00 target price for the company. Wells Fargo & Company assumed coverage on Eversource Energy in a research note on Tuesday, October 28th. They issued an “overweight” rating and a $79.00 price target on the stock. Finally, BMO Capital Markets reduced their price objective on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a research report on Thursday, November 6th. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat.com, Eversource Energy has an average rating of “Hold” and a consensus price target of $72.70.

Insiders Place Their Bets

In other Eversource Energy news, insider Loretta D. Keane bought 3,780 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the acquisition, the insider directly owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. The trade was a 45.80% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP James W. Hunt III sold 4,129 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $72.77, for a total transaction of $300,467.33. Following the completion of the transaction, the executive vice president directly owned 32,415 shares in the company, valued at approximately $2,358,839.55. The trade was a 11.30% decrease in their position. The SEC filing for this sale provides additional information. 0.19% of the stock is currently owned by company insiders.

Eversource Energy Stock Up 0.9%

ES stock opened at $73.98 on Tuesday. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $75.25. The stock’s 50 day simple moving average is $71.00 and its 200 day simple moving average is $66.71. The company has a market cap of $27.76 billion, a P/E ratio of 20.27, a price-to-earnings-growth ratio of 2.63 and a beta of 0.69.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 EPS 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 the consensus estimate of $3.28 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a dividend of $0.7525 per share. The ex-dividend date was Monday, September 22nd. This represents a $3.01 annualized dividend and a yield of 4.1%. Eversource Energy’s dividend payout ratio is presently 82.47%.

Eversource Energy Company Profile

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.