Advisors Asset Management Inc. lifted its position in shares of Eversource Energy (NYSE:ES) by 20.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 16,302 shares of the utilities provider’s stock after acquiring an additional 2,805 shares during the quarter. Advisors Asset Management Inc.’s holdings in Eversource Energy were worth $955,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of the company. HighPoint Advisor Group LLC purchased a new position in Eversource Energy in the 2nd quarter valued at about $266,000. Andra AP fonden lifted its stake in Eversource Energy by 6.0% in the 2nd quarter. Andra AP fonden now owns 67,300 shares of the utilities provider’s stock valued at $3,944,000 after buying an additional 3,800 shares in the last quarter. Tiedemann Advisors LLC lifted its stake in Eversource Energy by 159.7% in the 2nd quarter. Tiedemann Advisors LLC now owns 52,580 shares of the utilities provider’s stock worth $3,082,000 after purchasing an additional 32,330 shares in the last quarter. Verition Fund Management LLC purchased a new position in Eversource Energy in the 2nd quarter worth approximately $3,522,000. Finally, California Public Employees Retirement System lifted its stake in Eversource Energy by 24.2% in the 2nd quarter. California Public Employees Retirement System now owns 972,860 shares of the utilities provider’s stock worth $57,019,000 after purchasing an additional 189,749 shares in the last quarter. 73.59% of the stock is currently owned by institutional investors and hedge funds.
A number of research firms have weighed in on ES. ValuEngine lowered shares of Eversource Energy from a “buy” rating to a “hold” rating in a research note on Friday. Credit Suisse Group raised shares of Eversource Energy from an “underperform” rating to a “neutral” rating and raised their target price for the stock from $58.00 to $62.00 in a research note on Monday, July 9th. Morgan Stanley raised their target price on shares of Eversource Energy from $59.00 to $63.00 and gave the stock a “hold” rating in a research note on Monday, July 16th. Zacks Investment Research raised shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a research note on Tuesday, July 17th. Finally, Barclays began coverage on shares of Eversource Energy in a research note on Monday, October 22nd. They issued a “hold” rating and a $64.00 target price on the stock. Seven research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. Eversource Energy presently has a consensus rating of “Buy” and an average target price of $63.64.
Shares of NYSE ES opened at $62.19 on Friday. The company has a market cap of $19.71 billion, a PE ratio of 20.00, a PEG ratio of 3.21 and a beta of 0.16. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.65 and a quick ratio of 0.60. Eversource Energy has a 1 year low of $52.76 and a 1 year high of $66.15.
Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.90 by $0.03. The business had revenue of $2.27 billion during the quarter, compared to the consensus estimate of $2.06 billion. Eversource Energy had a net margin of 12.51% and a return on equity of 9.37%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the firm earned $0.82 EPS. On average, sell-side analysts expect that Eversource Energy will post 3.26 EPS for the current fiscal year.
In other news, EVP Leon J. Olivier sold 50,000 shares of the firm’s stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $62.03, for a total transaction of $3,101,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 0.53% of the stock is owned by company insiders.
Eversource Energy Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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