Robeco Institutional Asset Management B.V. Raises Stock Holdings in Eversource Energy $ES

Robeco Institutional Asset Management B.V. raised its position in Eversource Energy (NYSE:ES) by 88.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 737,544 shares of the utilities provider’s stock after buying an additional 345,450 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in Eversource Energy were worth $52,469,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in Eversource Energy during the second quarter worth about $274,744,000. Lazard Asset Management LLC increased its holdings in shares of Eversource Energy by 43,905.7% during the 2nd quarter. Lazard Asset Management LLC now owns 2,692,707 shares of the utilities provider’s stock worth $171,309,000 after buying an additional 2,686,588 shares during the last quarter. Covalis Capital LLP purchased a new stake in shares of Eversource Energy during the 2nd quarter valued at approximately $71,377,000. Panagora Asset Management Inc. lifted its holdings in Eversource Energy by 310.1% in the second quarter. Panagora Asset Management Inc. now owns 1,110,122 shares of the utilities provider’s stock valued at $70,626,000 after acquiring an additional 839,459 shares during the last quarter. Finally, First Trust Advisors LP grew its position in Eversource Energy by 50.7% in the second quarter. First Trust Advisors LP now owns 2,074,159 shares of the utilities provider’s stock worth $131,958,000 after acquiring an additional 697,820 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

Shares of ES opened at $65.62 on Thursday. The company has a market cap of $24.62 billion, a P/E ratio of 17.98, a PEG ratio of 2.29 and a beta of 0.76. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $75.25. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 1.68. The firm’s 50 day moving average price is $68.69 and its 200 day moving average price is $67.61.

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 the consensus estimate of $1.12 by $0.07. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter last year, the company posted $1.13 EPS. The firm’s revenue was up 5.2% compared to the same quarter last year. On average, research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 17th were issued a dividend of $0.7525 per share. The ex-dividend date was Wednesday, December 17th. This represents a $3.01 annualized dividend and a yield of 4.6%. Eversource Energy’s dividend payout ratio is 82.47%.

Insider Transactions at Eversource Energy

In other news, EVP James W. Hunt III sold 4,129 shares of Eversource Energy stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $72.77, for a total value of $300,467.33. Following the completion of the transaction, the executive vice president owned 32,415 shares in the company, valued at approximately $2,358,839.55. This trade represents a 11.30% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ES has been the topic of several recent analyst reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research note on Friday, October 31st. Mizuho reaffirmed a “neutral” rating and set a $68.00 target price (down previously from $81.00) on shares of Eversource Energy in a research note on Thursday, November 20th. Wells Fargo & Company cut shares of Eversource Energy from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $79.00 to $63.00 in a research report on Wednesday, November 19th. BMO Capital Markets decreased their price objective on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a report on Thursday, November 6th. Finally, Bank of America upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their target price for the company from $73.00 to $85.00 in a report on Tuesday, October 21st. Three investment analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $71.27.

Eversource Energy 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.