Van ECK Associates Corp Has $6.82 Million Stock Holdings in Eversource Energy (NYSE:ES)

Van ECK Associates Corp lifted its stake in shares of Eversource Energy (NYSE:ES) by 12.2% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 101,720 shares of the utilities provider’s stock after buying an additional 11,062 shares during the quarter. Van ECK Associates Corp’s holdings in Eversource Energy were worth $6,824,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of the stock. Mirae Asset Global Investments Co. Ltd. raised its stake in Eversource Energy by 24.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,810 shares of the utilities provider’s stock worth $4,232,000 after purchasing an additional 13,950 shares in the last quarter. Canada Pension Plan Investment Board raised its stake in Eversource Energy by 6.1% in the 1st quarter. Canada Pension Plan Investment Board now owns 646,334 shares of the utilities provider’s stock worth $38,631,000 after purchasing an additional 37,219 shares in the last quarter. Sei Investments Co. raised its stake in Eversource Energy by 62.9% in the 1st quarter. Sei Investments Co. now owns 460,399 shares of the utilities provider’s stock worth $27,518,000 after purchasing an additional 177,692 shares in the last quarter. Bensler LLC acquired a new stake in Eversource Energy in the 2nd quarter worth about $316,000. Finally, M&G Plc raised its stake in Eversource Energy by 16.8% in the 2nd quarter. M&G Plc now owns 1,626,685 shares of the utilities provider’s stock worth $92,721,000 after purchasing an additional 234,361 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Trading Up 0.2 %

ES opened at $60.82 on Friday. Eversource Energy has a fifty-two week low of $52.09 and a fifty-two week high of $69.01. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The firm has a market capitalization of $21.74 billion, a price-to-earnings ratio of -38.74, a PEG ratio of 2.47 and a beta of 0.61. The company’s 50 day moving average price is $66.14 and its two-hundred day moving average price is $62.82.

Eversource Energy (NYSE:ES) last posted its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, topping analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 11.00%. The firm had revenue of $3.06 billion for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the previous year, the firm posted $0.97 EPS. The company’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, research analysts predict that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.70%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s payout ratio is -182.17%.

Insiders Place Their Bets

In other news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the sale, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.29% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Scotiabank lifted their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Bank of America boosted their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research report on Thursday, August 29th. Mizuho boosted their target price on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Wednesday, October 30th. Finally, BMO Capital Markets dropped their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $70.46.

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.