LMR Partners LLP bought a new stake in shares of Eversource Energy (NYSE:ES) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor bought 15,378 shares of the utilities provider’s stock, valued at approximately $933,000.
Other hedge funds have also recently modified their holdings of the company. Russell Investments Group Ltd. raised its stake in shares of Eversource Energy by 14.0% in the first quarter. Russell Investments Group Ltd. now owns 853,379 shares of the utilities provider’s stock valued at $50,128,000 after buying an additional 105,088 shares during the last quarter. Janney Montgomery Scott LLC raised its stake in shares of Eversource Energy by 7.2% in the first quarter. Janney Montgomery Scott LLC now owns 61,268 shares of the utilities provider’s stock valued at $3,601,000 after buying an additional 4,090 shares during the last quarter. North Point Portfolio Managers Corp OH purchased a new stake in shares of Eversource Energy during the first quarter valued at about $202,000. ST Germain D J Co. Inc. purchased a new stake in shares of Eversource Energy during the first quarter valued at about $213,000. Finally, Penobscot Investment Management Company Inc. raised its stake in shares of Eversource Energy by 4.0% in the first quarter. Penobscot Investment Management Company Inc. now owns 61,459 shares of the utilities provider’s stock valued at $3,613,000 after buying an additional 2,390 shares during the last quarter. Hedge funds and other institutional investors own 71.31% of the company’s stock.
Eversource Energy (NYSE ES) opened at 63.06 on Friday. Eversource Energy has a 12 month low of $50.56 and a 12 month high of $63.34. The stock has a 50 day moving average price of $61.09 and a 200 day moving average price of $59.89. The stock has a market capitalization of $19.98 billion, a PE ratio of 20.41 and a beta of 0.28.
Eversource Energy (NYSE:ES) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The company had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.91 billion. During the same period last year, the firm earned $0.64 EPS. Eversource Energy’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities research analysts forecast that Eversource Energy will post $3.15 earnings per share for the current fiscal year.
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Several analysts have issued reports on the company. Zacks Investment Research upgraded Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research note on Wednesday, June 21st. BidaskClub upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Friday. Barclays PLC restated an “equal weight” rating and issued a $66.00 target price (up from $62.00) on shares of Eversource Energy in a research note on Thursday, June 1st. Morgan Stanley boosted their target price on Eversource Energy from $63.00 to $64.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 6th. Finally, Credit Suisse Group restated a “hold” rating and issued a $59.00 target price on shares of Eversource Energy in a research note on Tuesday, June 6th. Eight investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $62.95.
In related news, VP Werner J. Schweiger sold 48,544 shares of the firm’s stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $61.01, for a total value of $2,961,669.44. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.53% of the stock is currently owned by company insiders.
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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