Wedge Capital Management L L P NC lifted its holdings in shares of Eversource Energy (NYSE:ES) by 4.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 200,555 shares of the utilities provider’s stock after purchasing an additional 9,268 shares during the quarter. Wedge Capital Management L L P NC owned about 0.06% of Eversource Energy worth $12,322,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also added to or reduced their stakes in the company. BlackRock Inc. boosted its holdings in Eversource Energy by 2.6% during the 2nd quarter. BlackRock Inc. now owns 26,905,620 shares of the utilities provider’s stock valued at $1,576,935,000 after acquiring an additional 673,138 shares during the period. Bank of New York Mellon Corp boosted its holdings in Eversource Energy by 14.0% during the 2nd quarter. Bank of New York Mellon Corp now owns 14,651,624 shares of the utilities provider’s stock valued at $858,731,000 after acquiring an additional 1,803,735 shares during the period. Charles Schwab Investment Advisory Inc. purchased a new position in Eversource Energy during the 2nd quarter valued at about $268,926,000. American Century Companies Inc. boosted its holdings in Eversource Energy by 5.8% during the 2nd quarter. American Century Companies Inc. now owns 3,344,553 shares of the utilities provider’s stock valued at $196,024,000 after acquiring an additional 184,224 shares during the period. Finally, Legal & General Group Plc boosted its holdings in Eversource Energy by 3.8% during the 2nd quarter. Legal & General Group Plc now owns 3,089,588 shares of the utilities provider’s stock valued at $181,037,000 after acquiring an additional 113,992 shares during the period. Institutional investors and hedge funds own 73.61% of the company’s stock.
Shares of ES opened at $63.47 on Wednesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.54. The stock has a market capitalization of $19.71 billion, a PE ratio of 20.41, a P/E/G ratio of 3.21 and a beta of 0.16. 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 data on Thursday, November 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.90 by $0.03. The business had revenue of $2.27 billion during the quarter, compared to analysts’ expectations of $2.06 billion. Eversource Energy had a return on equity of 9.32% and a net margin of 12.51%. The business’s quarterly revenue was up 14.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.82 EPS. As a group, sell-side analysts expect that Eversource Energy will post 3.26 EPS for the current year.
A number of equities analysts recently commented on ES shares. Morgan Stanley raised their target price on Eversource Energy from $59.00 to $63.00 and gave the company a “hold” rating in a report on Monday, July 16th. Zacks Investment Research upgraded Eversource Energy from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Tuesday, July 17th. Bank of America upgraded Eversource Energy from an “underperform” rating to a “neutral” rating and set a $59.00 target price for the company in a report on Friday, August 3rd. Scotiabank started coverage on Eversource Energy in a report on Tuesday, September 4th. They set a “sector perform” rating for the company. Finally, Wells Fargo & Co raised their target price on Eversource Energy from $67.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, September 17th. Seven investment analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $63.64.
In other news, EVP Leon J. Olivier sold 50,000 shares of Eversource Energy stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $62.03, for a total value of $3,101,500.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.45% of the company’s stock.
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Eversource Energy Company 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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