Westpac Banking Corp boosted its position in shares of Eversource Energy (NYSE:ES) by 12.5% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,431 shares of the utilities provider’s stock after buying an additional 4,255 shares during the quarter. Westpac Banking Corp’s holdings in Eversource Energy were worth $2,912,000 at the end of the most recent quarter.
Other hedge funds have also recently made changes to their positions in the company. Centersquare Investment Management LLC boosted its position in shares of Eversource Energy by 368,643.4% in the 1st quarter. Centersquare Investment Management LLC now owns 3,576,811 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 3,575,841 shares during the period. Bremer Bank National Association acquired a new position in shares of Eversource Energy in the 1st quarter valued at $28,000. Next Capital Management LLC acquired a new position in shares of Eversource Energy in the 1st quarter valued at $40,000. Hexavest Inc. purchased a new position in Eversource Energy during the 2nd quarter valued at about $42,000. Finally, Carroll Financial Associates Inc. increased its holdings in shares of Eversource Energy by 55.3% in the 1st quarter. Carroll Financial Associates Inc. now owns 713 shares of the utilities provider’s stock valued at $50,000 after purchasing an additional 254 shares during the period. 74.17% of the stock is owned by institutional investors and hedge funds.
In other news, VP Gregory B. Butler sold 8,298 shares of Eversource Energy stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $77.30, for a total transaction of $641,435.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.37% of the stock is owned by insiders.
Shares of Eversource Energy stock opened at $78.64 on Friday. The firm has a market cap of $24.97 billion, a price-to-earnings ratio of 23.98, a P/E/G ratio of 3.99 and a beta of 0.23. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.61 and a quick ratio of 0.56. Eversource Energy has a 52-week low of $60.15 and a 52-week high of $79.11. The stock has a 50-day simple moving average of $77.07 and a 200-day simple moving average of $73.26.
Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.74 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.95 billion. Eversource Energy had a return on equity of 9.24% and a net margin of 10.00%. The firm’s revenue was up 1.7% on a year-over-year basis. During the same period in the previous year, the company earned $0.76 EPS. As a group, equities research analysts predict that Eversource Energy will post 3.43 earnings per share for the current year.
A number of research analysts recently commented on the stock. UBS Group boosted their price objective on shares of Eversource Energy from $81.00 to $85.00 and gave the company a “buy” rating in a research report on Friday, June 7th. Barclays upped their price target on shares of Eversource Energy from $71.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 18th. Bank of America set a $78.00 price objective on Eversource Energy and gave the company a “sell” rating in a research report on Monday, July 15th. Wells Fargo & Co boosted their target price on Eversource Energy from $86.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Finally, Morgan Stanley dropped their target price on Eversource Energy from $78.00 to $77.00 and set an “equal weight” rating on the stock in a research report on Friday. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $76.33.
About Eversource Energy
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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