Bessemer Group Inc. lifted its stake in Eversource Energy (NYSE:ES) by 64.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 5,920 shares of the utilities provider’s stock after acquiring an additional 2,324 shares during the period. Bessemer Group Inc.’s holdings in Eversource Energy were worth $358,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in ES. BB&T Securities LLC purchased a new stake in Eversource Energy during the 2nd quarter valued at about $1,033,000. Teacher Retirement System of Texas purchased a new stake in shares of Eversource Energy in the second quarter worth about $200,000. Troy Asset Management Ltd boosted its stake in shares of Eversource Energy by 14.4% in the third quarter. Troy Asset Management Ltd now owns 55,500 shares of the utilities provider’s stock worth $3,354,000 after buying an additional 7,000 shares during the last quarter. Swiss National Bank boosted its stake in shares of Eversource Energy by 3.0% in the second quarter. Swiss National Bank now owns 1,157,857 shares of the utilities provider’s stock worth $70,293,000 after buying an additional 33,900 shares during the last quarter. Finally, Toronto Dominion Bank boosted its stake in shares of Eversource Energy by 25.5% in the second quarter. Toronto Dominion Bank now owns 107,349 shares of the utilities provider’s stock worth $6,516,000 after buying an additional 21,833 shares during the last quarter. 72.21% of the stock is owned by hedge funds and other institutional investors.
Shares of Eversource Energy (NYSE ES) traded up $0.05 on Monday, reaching $65.48. The company’s stock had a trading volume of 2,108,879 shares, compared to its average volume of 1,430,027. The stock has a market cap of $20,733.84, a price-to-earnings ratio of 21.24, a PEG ratio of 3.51 and a beta of 0.31. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80. Eversource Energy has a 12 month low of $51.04 and a 12 month high of $66.15.
Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.82 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.06 billion. Eversource Energy had a return on equity of 9.03% and a net margin of 12.84%. The company’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.83 earnings per share. equities analysts predict that Eversource Energy will post 3.15 EPS for the current fiscal year.
In other news, COO Werner J. Schweiger sold 10,098 shares of the business’s stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $64.68, for a total transaction of $653,138.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.53% of the stock is owned by insiders.
A number of equities analysts recently weighed in on ES shares. Credit Suisse Group upped their price target on Eversource Energy from $60.00 to $63.00 and gave the stock a “neutral” rating in a report on Monday, October 2nd. Williams Capital increased their target price on Eversource Energy from $64.00 to $66.00 and gave the company a “buy” rating in a report on Monday, October 23rd. Zacks Investment Research cut Eversource Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Morgan Stanley increased their price target on Eversource Energy from $64.00 to $68.00 and gave the company an “equal weight” rating in a report on Tuesday, October 24th. Finally, Bank of America began coverage on Eversource Energy in a research report on Tuesday, October 24th. They issued an “underperform” rating and a $62.00 price objective for the company. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $64.06.
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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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