Ingalls & Snyder LLC acquired a new stake in Eversource Energy (NYSE:ES) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,089 shares of the utilities provider’s stock, valued at approximately $309,000.
Other hedge funds have also made changes to their positions in the company. Trust Department MB Financial Bank N A boosted its stake in shares of Eversource Energy by 4.9% in the first quarter. Trust Department MB Financial Bank N A now owns 3,474 shares of the utilities provider’s stock valued at $204,000 after buying an additional 162 shares during the last quarter. DnB Asset Management AS boosted its stake in shares of Eversource Energy by 22.4% in the first quarter. DnB Asset Management AS now owns 44,821 shares of the utilities provider’s stock valued at $2,635,000 after buying an additional 8,200 shares during the last quarter. Somerset Trust Co boosted its stake in shares of Eversource Energy by 2.0% in the first quarter. Somerset Trust Co now owns 23,704 shares of the utilities provider’s stock valued at $1,393,000 after buying an additional 461 shares during the last quarter. CWM LLC boosted its stake in shares of Eversource Energy by 11.4% in the first quarter. CWM LLC now owns 6,278 shares of the utilities provider’s stock valued at $369,000 after buying an additional 644 shares during the last quarter. Finally, Eastern Bank boosted its stake in Eversource Energy by 2.6% in the first quarter. Eastern Bank now owns 5,089 shares of the utilities provider’s stock valued at $299,000 after buying an additional 130 shares in the last quarter. Institutional investors and hedge funds own 71.31% of the company’s stock.
Eversource Energy (NYSE:ES) traded up 0.96% during trading on Friday, reaching $63.06. The company had a trading volume of 1,481,023 shares. The firm has a market capitalization of $19.98 billion, a P/E ratio of 20.41 and a beta of 0.28. The firm’s 50-day moving average price is $61.09 and its 200 day moving average price is $59.89. Eversource Energy has a one year low of $50.56 and a one year high of $63.34.
Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.72 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. Eversource Energy had a net margin of 12.81% and a return on equity of 9.15%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same period last year, the business earned $0.64 EPS. The company’s revenue was down .2% on a year-over-year basis. Equities analysts forecast that Eversource Energy will post $3.15 earnings per share for the current fiscal year.
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ES has been the subject of a number of research reports. BMO Capital Markets lifted their price target on Eversource Energy from $57.00 to $61.00 and gave the stock a “market perform” rating in a report on Monday, May 15th. Citigroup Inc. lifted their price target on Eversource Energy from $54.00 to $58.00 and gave the stock a “neutral” rating in a report on Tuesday, April 25th. Zacks Investment Research upgraded Eversource Energy from a “sell” rating to a “hold” rating in a report on Monday, June 5th. Janney Montgomery Scott set a $71.00 target price on Eversource Energy and gave the company a “buy” rating in a research note on Monday, July 31st. Finally, Deutsche Bank AG lowered Eversource Energy from a “buy” rating to a “hold” rating and boosted their target price for the company from $61.00 to $61.50 in a research note on Monday, July 31st. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $62.95.
In other news, VP Werner J. Schweiger sold 36,736 shares of the firm’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $62.00, for a total value of $2,277,632.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.53% of the stock is currently owned by company insiders.
About Eversource Energy
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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