Royal London Asset Management Ltd. increased its holdings in Eversource Energy (NYSE:ES) by 7.8% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 361,109 shares of the utilities provider’s stock after acquiring an additional 26,243 shares during the period. Royal London Asset Management Ltd. owned about 0.11% of Eversource Energy worth $27,352,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Centersquare Investment Management LLC lifted its stake in 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 worth $28,000 after acquiring an additional 3,575,841 shares in the last quarter. Bremer Bank National Association purchased a new stake in Eversource Energy in the 1st quarter worth about $28,000. Next Capital Management LLC purchased a new stake in Eversource Energy in the 1st quarter worth about $40,000. Hexavest Inc. purchased a new stake in Eversource Energy in the 2nd quarter worth about $42,000. Finally, Carroll Financial Associates Inc. increased its position in Eversource Energy by 55.3% in the 1st quarter. Carroll Financial Associates Inc. now owns 713 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 254 shares during the last quarter. 74.17% of the stock is owned by hedge funds and other institutional investors.
Shares of NYSE ES traded up $0.23 during mid-day trading on Tuesday, reaching $77.98. 562,935 shares of the company traded hands, compared to its average volume of 1,671,426. The company has a current ratio of 0.61, a quick ratio of 0.56 and a debt-to-equity ratio of 1.09. The stock has a market cap of $25.18 billion, a PE ratio of 23.77, a PEG ratio of 4.06 and a beta of 0.23. The company’s fifty day moving average is $76.95. Eversource Energy has a fifty-two week low of $60.15 and a fifty-two week high of $78.88.
Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.74 EPS for the quarter, beating the Zacks’ consensus estimate of $0.73 by $0.01. The business had revenue of $1.88 billion for 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 for the quarter was up 1.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.76 EPS. As a group, sell-side analysts predict that Eversource Energy will post 3.43 earnings per share for the current year.
ES has been the topic of several research reports. Credit Suisse Group set a $76.00 target price on Eversource Energy and gave the stock a “buy” rating in a research report on Monday, April 22nd. Barclays upped their target price on Eversource Energy from $71.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 18th. KeyCorp initiated coverage on Eversource Energy in a research report on Tuesday, June 4th. They issued an “overweight” rating and a $80.00 target price on the stock. Zacks Investment Research raised Eversource Energy from a “sell” rating to a “hold” rating and set a $82.00 target price on the stock in a research report on Monday, June 17th. Finally, Wells Fargo & Co upped their target price on Eversource Energy from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $76.42.
In other news, VP Gregory B. Butler sold 8,298 shares of the 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 SEC, which is available at this link. Corporate insiders own 0.37% of the company’s stock.
Eversource Energy Profile
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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