Wealth Enhancement Advisory Services LLC bought a new position in Eversource Energy (NYSE:ES) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 65,443 shares of the utilities provider’s stock, valued at approximately $5,600,000.
Several other hedge funds have also recently added to or reduced their stakes in ES. Price T Rowe Associates Inc. MD lifted its stake in shares of Eversource Energy by 108.1% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 14,429,007 shares of the utilities provider’s stock worth $1,093,142,000 after acquiring an additional 7,496,179 shares during the period. Zimmer Partners LP lifted its stake in shares of Eversource Energy by 586.4% in the 2nd quarter. Zimmer Partners LP now owns 4,290,210 shares of the utilities provider’s stock worth $325,026,000 after acquiring an additional 3,665,210 shares during the period. Vanguard Group Inc. lifted its stake in shares of Eversource Energy by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 40,172,997 shares of the utilities provider’s stock worth $3,043,505,000 after acquiring an additional 1,338,950 shares during the period. Nuveen Asset Management LLC acquired a new stake in shares of Eversource Energy in the 2nd quarter worth $96,520,000. Finally, Macquarie Group Ltd. lifted its stake in shares of Eversource Energy by 916.3% in the 2nd quarter. Macquarie Group Ltd. now owns 992,928 shares of the utilities provider’s stock worth $75,224,000 after acquiring an additional 895,228 shares during the period. Institutional investors own 78.47% of the company’s stock.
Shares of NYSE ES traded down $0.10 during midday trading on Tuesday, hitting $79.19. The company had a trading volume of 1,067,319 shares, compared to its average volume of 1,673,519. The company has a quick ratio of 0.54, a current ratio of 0.59 and a debt-to-equity ratio of 1.11. Eversource Energy has a twelve month low of $62.61 and a twelve month high of $86.55. The business has a 50-day simple moving average of $84.12 and a two-hundred day simple moving average of $78.62. The firm has a market capitalization of $25.71 billion, a price-to-earnings ratio of 24.14, a price-to-earnings-growth ratio of 4.08 and a beta of 0.17.
Several analysts have recently commented on the stock. UBS Group cut shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $91.00 target price for the company. in a research note on Tuesday, October 29th. Morgan Stanley raised their target price on shares of Eversource Energy from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 17th. Guggenheim upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $76.00 to $88.00 in a research note on Wednesday, September 4th. Bank of America set a $78.00 target price on shares of Eversource Energy and gave the stock a “sell” rating in a research note on Monday, July 15th. Finally, KeyCorp raised their target price on shares of Eversource Energy from $88.00 to $95.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a sell rating, five have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $81.45.
In related news, CFO Philip J. Lembo sold 1,256 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $79.61, for a total value of $99,990.16. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.37% of the stock is owned by company insiders.
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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