Korea Investment CORP Acquires 6,526 Shares of Eversource Energy $ES

Korea Investment CORP raised its stake in shares of Eversource Energy (NYSE:ES) by 2.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 270,804 shares of the utilities provider’s stock after acquiring an additional 6,526 shares during the quarter. Korea Investment CORP’s holdings in Eversource Energy were worth $17,229,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the stock. Elevation Point Wealth Partners LLC bought a new stake in Eversource Energy during the second quarter valued at about $31,000. Quadrant Capital Group LLC boosted its holdings in shares of Eversource Energy by 25.0% in the 2nd quarter. Quadrant Capital Group LLC now owns 16,684 shares of the utilities provider’s stock valued at $1,061,000 after buying an additional 3,333 shares in the last quarter. Vinva Investment Management Ltd purchased a new position in shares of Eversource Energy in the 2nd quarter worth approximately $405,000. Employees Retirement System of Texas purchased a new position in shares of Eversource Energy in the 2nd quarter worth approximately $177,000. Finally, Northwest & Ethical Investments L.P. bought a new position in shares of Eversource Energy during the 2nd quarter worth approximately $3,010,000. 79.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Eversource Energy

In related news, EVP James W. Hunt III sold 4,129 shares of the firm’s stock in a transaction on Friday, November 7th. The shares were sold at an average price of $72.77, for a total transaction of $300,467.33. Following the completion of the transaction, the executive vice president owned 32,415 shares of the company’s stock, valued at $2,358,839.55. This trade represents a 11.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by insiders.

Eversource Energy Stock Up 0.7%

Eversource Energy stock opened at $67.18 on Friday. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $75.25. The company has a market cap of $25.21 billion, a PE ratio of 18.41, a PEG ratio of 2.94 and a beta of 0.69. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71. The business’s 50-day simple moving average is $71.36 and its two-hundred day simple moving average is $67.01.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, topping 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 firm had revenue of $3.22 billion during the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. The company’s revenue was up 5.2% compared to the same quarter last year. Equities analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy’s dividend payout ratio is 82.47%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. TD Cowen started coverage on shares of Eversource Energy in a research note on Thursday, October 16th. They issued a “hold” rating and a $76.00 target price for the company. BMO Capital Markets lowered their price objective on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a research report on Thursday, November 6th. Bank of America upgraded Eversource Energy from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $73.00 to $85.00 in a research note on Tuesday, October 21st. Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Monday, November 24th. Finally, UBS Group downgraded Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 price target for the company. in a report on Thursday, November 6th. Three research analysts have rated the stock with a Buy rating, seven have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $70.55.

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.