Chemical Bank Acquires Shares of 6,040 Eversource Energy (ES)

Chemical Bank acquired a new stake in Eversource Energy (NYSE:ES) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 6,040 shares of the utilities provider’s stock, valued at approximately $371,000.

Other institutional investors have also made changes to their positions in the company. Chicago Partners Investment Group LLC bought a new stake in shares of Eversource Energy in the third quarter worth about $117,000. Braun Bostich & Associates Inc. increased its holdings in shares of Eversource Energy by 1,308.3% in the second quarter. Braun Bostich & Associates Inc. now owns 1,859 shares of the utilities provider’s stock worth $109,000 after purchasing an additional 1,727 shares during the last quarter. O Brien Wealth Partners LLC increased its holdings in shares of Eversource Energy by 175.3% in the third quarter. O Brien Wealth Partners LLC now owns 1,963 shares of the utilities provider’s stock worth $121,000 after purchasing an additional 1,250 shares during the last quarter. Asset Advisors Investment Management LLC bought a new stake in shares of Eversource Energy in the third quarter worth about $148,000. Finally, Qube Research & Technologies Ltd increased its holdings in shares of Eversource Energy by 46.8% in the second quarter. Qube Research & Technologies Ltd now owns 2,534 shares of the utilities provider’s stock worth $149,000 after purchasing an additional 808 shares during the last quarter. Institutional investors and hedge funds own 73.61% of the company’s stock.

Shares of NYSE ES opened at $65.14 on Friday. The company has a current ratio of 0.59, a quick ratio of 0.54 and a debt-to-equity ratio of 1.07. Eversource Energy has a 1-year low of $52.76 and a 1-year high of $66.15. The company has a market cap of $20.40 billion, a price-to-earnings ratio of 20.95, a P/E/G ratio of 3.32 and a beta of 0.16.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Thursday, November 1st. The utilities provider reported $0.93 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.90 by $0.03. Eversource Energy had a return on equity of 9.32% and a net margin of 12.51%. The company had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same period in the previous year, the firm posted $0.82 earnings per share. The firm’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, analysts predict that Eversource Energy will post 3.26 EPS for the current fiscal year.

In other Eversource Energy news, EVP Leon J. Olivier sold 50,000 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $62.03, for a total transaction of $3,101,500.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.53% of the company’s stock.

ES has been the topic of several research reports. ValuEngine raised Eversource Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $66.00 target price on the stock in a report on Tuesday, July 17th. Morgan Stanley lifted their target price on Eversource Energy from $59.00 to $63.00 and gave the stock a “hold” rating in a report on Monday, July 16th. Barclays initiated coverage on Eversource Energy in a report on Monday, October 22nd. They issued a “hold” rating and a $64.00 target price on the stock. Finally, Citigroup lifted their target price on Eversource Energy from $59.00 to $63.00 and gave the stock a “hold” rating in a report on Tuesday, September 25th. Seven equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus price target of $63.64.

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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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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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