Bank of New York Mellon Corp Has $181.06 Million Holdings in Eversource Energy $ES

Bank of New York Mellon Corp lifted its position in shares of Eversource Energy (NYSE:ES) by 4.7% during the third quarter, Holdings Channel.com reports. The firm owned 2,545,084 shares of the utilities provider’s stock after buying an additional 113,836 shares during the quarter. Bank of New York Mellon Corp’s holdings in Eversource Energy were worth $181,057,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ballentine Partners LLC increased its position in Eversource Energy by 22.5% during the 3rd quarter. Ballentine Partners LLC now owns 6,865 shares of the utilities provider’s stock worth $488,000 after buying an additional 1,263 shares during the period. Mystic Asset Management Inc. increased its position in Eversource Energy by 0.9% during the third quarter. Mystic Asset Management Inc. now owns 16,549 shares of the utilities provider’s stock worth $1,177,000 after acquiring an additional 150 shares during the period. Federated Hermes Inc. boosted its holdings in Eversource Energy by 112.4% in the 3rd quarter. Federated Hermes Inc. now owns 3,550 shares of the utilities provider’s stock valued at $253,000 after purchasing an additional 1,879 shares during the period. Truist Financial Corp grew its position in shares of Eversource Energy by 3.4% during the 3rd quarter. Truist Financial Corp now owns 35,865 shares of the utilities provider’s stock worth $2,551,000 after purchasing an additional 1,169 shares in the last quarter. Finally, J. Safra Sarasin Holding AG increased its holdings in shares of Eversource Energy by 247.4% during the third quarter. J. Safra Sarasin Holding AG now owns 23,905 shares of the utilities provider’s stock worth $1,701,000 after purchasing an additional 17,023 shares during the period. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on the company. Jefferies Financial Group reissued an “underperform” rating on shares of Eversource Energy in a research report on Monday, November 24th. BMO Capital Markets reduced their target price on Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a report on Thursday, November 6th. Weiss Ratings restated a “hold (c+)” rating on shares of Eversource Energy in a research report on Wednesday. Wells Fargo & Company downgraded shares of Eversource Energy from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $79.00 to $63.00 in a research note on Wednesday, November 19th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Eversource Energy from $72.00 to $71.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, Eversource Energy has an average rating of “Hold” and an average target price of $71.50.

Eversource Energy Stock Up 0.3%

Shares of NYSE:ES opened at $69.15 on Friday. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $75.25. The company has a market capitalization of $25.94 billion, a PE ratio of 18.95, a price-to-earnings-growth ratio of 2.34 and a beta of 0.76. 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 company has a fifty day moving average of $67.93 and a 200-day moving average of $68.21.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data 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 business had revenue of $3.22 billion for 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 quarterly revenue was up 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.13 EPS. On average, equities analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 5th will be given a dividend of $0.7875 per share. The ex-dividend date is Thursday, March 5th. This represents a $3.15 annualized dividend and a yield of 4.6%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.75. 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 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 approximately $2,358,839.55. This trade represents a 11.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.41% of the company’s stock.

About Eversource Energy

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.