Vinva Investment Management Ltd Invests $405,000 in Eversource Energy $ES

Vinva Investment Management Ltd purchased a new stake in Eversource Energy (NYSE:ES) in the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,395 shares of the utilities provider’s stock, valued at approximately $405,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Neo Ivy Capital Management bought a new position in shares of Eversource Energy during the 2nd quarter valued at approximately $26,000. Trust Co. of Toledo NA OH purchased a new stake in shares of Eversource Energy in the second quarter valued at $28,000. Hilltop National Bank purchased a new stake in shares of Eversource Energy in the second quarter valued at $32,000. True Wealth Design LLC lifted its holdings in shares of Eversource Energy by 540.0% in the 2nd quarter. True Wealth Design LLC now owns 608 shares of the utilities provider’s stock worth $39,000 after acquiring an additional 513 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Eversource Energy during the 1st quarter worth about $46,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

NYSE ES opened at $67.18 on Friday. The company has a market cap of $25.21 billion, a PE ratio of 18.41, a P/E/G ratio of 2.94 and a beta of 0.69. The firm’s 50 day moving average price is $71.36 and its 200-day moving average price is $67.01. The company has a debt-to-equity ratio of 1.68, a quick ratio of 0.64 and a current ratio of 0.71. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $75.25.

Eversource Energy (NYSE:ES) last posted its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. The company had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.28 billion. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.Eversource Energy’s revenue was up 5.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.13 earnings per share. Sell-side analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a dividend of $0.7525 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.01 dividend on an annualized basis and a yield of 4.5%. Eversource Energy’s dividend payout ratio (DPR) is presently 82.47%.

Insider Transactions at Eversource Energy

In other Eversource Energy news, EVP James W. Hunt III sold 4,129 shares of the business’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 completion of the transaction, the executive vice president directly owned 32,415 shares in the company, valued at approximately $2,358,839.55. The trade was a 11.30% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the stock. BMO Capital Markets decreased their price objective on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a research note on Thursday, November 6th. Jefferies Financial Group restated an “underperform” rating on shares of Eversource Energy in a report on Monday, November 24th. Scotiabank cut their price objective on Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a research report on Thursday, November 20th. UBS Group downgraded Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research report on Thursday, November 6th. Finally, Bank of America upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the stock from $73.00 to $85.00 in a report on Tuesday, October 21st. Three analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and a consensus price target of $70.55.

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.