Daiwa Securities Group Inc. Purchases 13,785 Shares of Eversource Energy (NYSE:ES)

Daiwa Securities Group Inc. increased its position in shares of Eversource Energy (NYSE:ES) by 32.2% during the third quarter, HoldingsChannel.com reports. The firm owned 56,651 shares of the utilities provider’s stock after buying an additional 13,785 shares during the period. Daiwa Securities Group Inc.’s holdings in Eversource Energy were worth $3,855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Larson Financial Group LLC increased its stake in Eversource Energy by 162.0% in the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after acquiring an additional 350 shares during the period. Swedbank AB grew its stake in shares of Eversource Energy by 2.2% in the 3rd quarter. Swedbank AB now owns 524,379 shares of the utilities provider’s stock valued at $35,684,000 after purchasing an additional 11,111 shares during the period. Cerity Partners LLC raised its holdings in shares of Eversource Energy by 32.9% in the 3rd quarter. Cerity Partners LLC now owns 127,326 shares of the utilities provider’s stock worth $8,665,000 after buying an additional 31,517 shares in the last quarter. Great Valley Advisor Group Inc. lifted its position in shares of Eversource Energy by 18.6% during the 3rd quarter. Great Valley Advisor Group Inc. now owns 72,125 shares of the utilities provider’s stock worth $4,908,000 after buying an additional 11,291 shares during the period. Finally, Waddell & Associates LLC lifted its position in shares of Eversource Energy by 36.3% during the 3rd quarter. Waddell & Associates LLC now owns 5,630 shares of the utilities provider’s stock worth $383,000 after buying an additional 1,500 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Price Performance

Eversource Energy stock opened at $63.58 on Wednesday. The stock has a market cap of $23.30 billion, a price-to-earnings ratio of -40.50, a P/E/G ratio of 2.54 and a beta of 0.61. Eversource Energy has a 12-month low of $52.09 and a 12-month high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The business’s 50-day simple moving average is $64.50 and its 200 day simple moving average is $62.96.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 EPS for the quarter, topping the consensus estimate of $1.08 by $0.05. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the previous year, the company earned $0.97 EPS. Eversource Energy’s revenue was up 9.7% on a year-over-year basis. As a group, research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 annualized dividend and a dividend yield of 4.50%. Eversource Energy’s dividend payout ratio is currently -182.17%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ES shares. Wells Fargo & Company increased their price objective on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Bank of America upped their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Scotiabank lifted their target price on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Mizuho increased their price target on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Eight research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $70.46.

Eversource Energy 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.