Mirae Asset Global Investments Co. Ltd. Acquires 128,039 Shares of Eversource Energy $ES

Mirae Asset Global Investments Co. Ltd. bought a new position in shares of Eversource Energy (NYSE:ES) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 128,039 shares of the utilities provider’s stock, valued at approximately $8,215,000.

Other large investors also recently bought and sold shares of the company. BlackRock Inc. purchased a new position in shares of Eversource Energy in the second quarter valued at $3,086,413,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its stake in shares of Eversource Energy by 1.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,620,413 shares of the utilities provider’s stock worth $478,457,000 after buying an additional 88,163 shares during the last quarter. Legal & General Group Plc purchased a new stake in shares of Eversource Energy in the 2nd quarter worth about $359,215,000. Deutsche Bank AG purchased a new stake in shares of Eversource Energy in the 2nd quarter worth about $311,548,000. Finally, Hsbc Holdings PLC acquired a new stake in Eversource Energy in the 2nd quarter valued at about $272,105,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Key Eversource Energy News

Here are the key news stories impacting Eversource Energy this week:

• Positive Sentiment: Adjusted earnings were $0.92 per share, above the $0.90 FactSet estimate cited in one report. That modest beat may have supported the stock. Earnings estimate report
• Negative Sentiment: Revenue was $2.98 billion, below the $3.20 billion FactSet estimate and down 7.5% from a year earlier. Revenue estimate report
• Negative Sentiment: The $0.92 per-share result also missed Zacks’ $0.97 consensus and was below the $1.19 in recurring earnings reported a year ago. Eversource reported $346 million in GAAP earnings, compared with $367.5 million a year earlier. Zacks earnings report

Eversource Energy Stock Up 1.8%

Shares of NYSE:ES opened at $70.27 on Thursday. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.63. Eversource Energy has a 52-week low of $62.72 and a 52-week high of $76.57. The stock’s fifty day simple moving average is $67.37 and its 200-day simple moving average is $70.02. The company has a market capitalization of $26.47 billion, a P/E ratio of 18.20, a P/E/G ratio of 3.01 and a beta of 0.66.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, November 4th. The utilities provider reported $0.92 EPS for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%. The firm had revenue of $2.98 billion during the quarter, compared to analysts’ expectations of $3.20 billion. During the same quarter last year, the business posted $1.19 EPS. The firm’s quarterly revenue was down 7.5% compared to the same quarter last year. As a group, equities research analysts forecast that Eversource Energy will post 4.63 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were paid a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, September 21st. Eversource Energy’s dividend payout ratio (DPR) is currently 81.61%.

Analyst Ratings Changes

Several equities analysts have weighed in on ES shares. BMO Capital Markets dropped their target price on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. Weiss Ratings raised shares of Eversource Energy from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, August 31st. Mizuho upped their price target on shares of Eversource Energy from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. HSBC initiated coverage on shares of Eversource Energy in a research report on Thursday, October 22nd. They issued a “hold” rating and a $70.00 price target on the stock. Finally, Citigroup assumed coverage on shares of Eversource Energy in a research note on Monday, July 27th. They set a “hold” rating and a $81.00 price objective for the company. Four 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 data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $72.91.

Eversource Energy Company Profile

Eversource Energy (NYSE: ES) is a New England-based energy delivery company that provides electric and natural gas utility services. Through its regulated operating companies, it delivers electricity to residential, commercial and industrial customers and distributes natural gas to homes and businesses.

The company owns and operates electric transmission and distribution infrastructure, natural gas distribution systems and related utility facilities. Its electric operations include Connecticut Light and Power, NSTAR Electric and Public Service Company of New Hampshire, while its natural gas operations include several utilities serving customers in Connecticut and Massachusetts.