Dai Ichi Life Insurance Company Ltd Has $7.09 Million Position in Eversource Energy (ES)

Dai Ichi Life Insurance Company Ltd increased its stake in shares of Eversource Energy (NYSE:ES) by 6.6% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,752 shares of the utilities provider’s stock after purchasing an additional 7,268 shares during the quarter. Dai Ichi Life Insurance Company Ltd’s holdings in Eversource Energy were worth $7,088,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brookfield Asset Management Inc. acquired a new position in shares of Eversource Energy during the 1st quarter worth about $106,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of Eversource Energy by 24.9% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,005 shares of the utilities provider’s stock worth $119,000 after acquiring an additional 400 shares in the last quarter. NEXT Financial Group Inc boosted its position in shares of Eversource Energy by 168.9% during the 2nd quarter. NEXT Financial Group Inc now owns 2,420 shares of the utilities provider’s stock worth $147,000 after acquiring an additional 1,520 shares in the last quarter. First Personal Financial Services boosted its position in shares of Eversource Energy by 180.2% during the 1st quarter. First Personal Financial Services now owns 2,567 shares of the utilities provider’s stock worth $151,000 after acquiring an additional 1,651 shares in the last quarter. Finally, Van ECK Associates Corp boosted its position in shares of Eversource Energy by 18.0% during the 1st quarter. Van ECK Associates Corp now owns 2,736 shares of the utilities provider’s stock worth $161,000 after acquiring an additional 418 shares in the last quarter. 72.49% of the stock is owned by hedge funds and other institutional investors.

Shares of Eversource Energy (ES) traded up 0.25% during mid-day trading on Monday, hitting $63.65. The company had a trading volume of 153,984 shares. The stock’s 50-day moving average is $62.22 and its 200-day moving average is $60.66. Eversource Energy has a 52-week low of $50.56 and a 52-week high of $63.72. The stock has a market cap of $20.17 billion, a price-to-earnings ratio of 20.60 and a beta of 0.29.

Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.72 EPS for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same period in the previous year, the firm posted $0.64 earnings per share. Eversource Energy’s quarterly revenue was down .2% compared to the same quarter last year. Equities analysts forecast that Eversource Energy will post $3.15 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th will be paid a $0.475 dividend. The ex-dividend date is Monday, September 18th. This represents a $1.90 dividend on an annualized basis and a yield of 2.99%. Eversource Energy’s payout ratio is currently 61.49%.

Several research analysts have recently issued reports on the company. BidaskClub raised Eversource Energy from a “sell” rating to a “hold” rating in a research report on Friday, August 18th. Morgan Stanley upped their price objective on Eversource Energy from $64.00 to $66.00 and gave the stock an “equal weight” rating in a research report on Thursday, August 10th. Janney Montgomery Scott set a $71.00 target price on Eversource Energy and gave the company a “buy” rating in a research report on Monday, July 31st. Deutsche Bank AG cut Eversource Energy from a “buy” rating to a “hold” rating and upped their target price for the company from $61.00 to $61.50 in a research report on Monday, July 31st. Finally, Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 target price for the company in a research report on Wednesday, June 21st. Eight research analysts have rated the stock with a hold rating and three have given a buy rating to the company. The stock has an average rating of “Hold” and a consensus price target of $62.95.

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Eversource Energy Company Profile

Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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