Bank of New York Mellon Corp Acquires 113,836 Shares of Eversource Energy $ES

Bank of New York Mellon Corp boosted its holdings in Eversource Energy (NYSE:ES) by 4.7% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,545,084 shares of the utilities provider’s stock after acquiring an additional 113,836 shares during the quarter. Bank of New York Mellon Corp owned 0.69% of Eversource Energy worth $181,057,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Empowered Funds LLC boosted its stake in shares of Eversource Energy by 8.9% in the 1st quarter. Empowered Funds LLC now owns 16,149 shares of the utilities provider’s stock valued at $1,003,000 after purchasing an additional 1,319 shares in the last quarter. Woodline Partners LP boosted its position in Eversource Energy by 40.8% in the first quarter. Woodline Partners LP now owns 30,988 shares of the utilities provider’s stock valued at $1,925,000 after buying an additional 8,984 shares in the last quarter. Acadian Asset Management LLC grew its position in Eversource Energy by 115.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,497 shares of the utilities provider’s stock worth $92,000 after acquiring an additional 801 shares during the last quarter. HB Wealth Management LLC increased its holdings in Eversource Energy by 17.7% during the 2nd quarter. HB Wealth Management LLC now owns 14,610 shares of the utilities provider’s stock valued at $930,000 after purchasing an additional 2,194 shares in the last quarter. Finally, Truist Financial Corp raised its position in Eversource Energy by 60.7% in the 2nd quarter. Truist Financial Corp now owns 34,696 shares of the utilities provider’s stock valued at $2,207,000 after purchasing an additional 13,112 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, EVP James W. Hunt III sold 4,129 shares of the company’s 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 sale, the executive vice president directly owned 32,415 shares of the company’s stock, valued at approximately $2,358,839.55. This represents a 11.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. UBS Group lowered their price objective on shares of Eversource Energy from $78.00 to $73.00 and set a “neutral” rating for the company in a research report on Wednesday, December 17th. Scotiabank dropped their price objective on shares of Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating for the company in a research report on Thursday, November 20th. JPMorgan Chase & Co. decreased their price objective on Eversource Energy from $72.00 to $71.00 and set an “underweight” rating on the stock in a research report on Friday, December 12th. Jefferies Financial Group reiterated an “underperform” rating on shares of Eversource Energy in a report on Monday, November 24th. Finally, Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Monday, November 24th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Eversource Energy has an average rating of “Hold” and an average price target of $71.50.

Eversource Energy Stock Up 0.3%

Eversource Energy stock opened at $69.15 on Friday. The company has a 50 day moving average of $67.93 and a 200-day moving average of $68.21. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 1.68. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $75.25. The stock has a market capitalization of $25.94 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 2.34 and a beta of 0.76.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.07. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The company had revenue of $3.22 billion for the quarter, compared to analyst estimates of $3.28 billion. During the same period in the previous year, the company posted $1.13 earnings per share. The company’s quarterly revenue was up 5.2% compared to the same quarter last year. On average, equities research analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 5th will be given a dividend of $0.7875 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.15 annualized dividend and a dividend yield of 4.6%. Eversource Energy’s payout ratio is presently 82.47%.

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.