Bank of New York Mellon Corp boosted its position in shares of Eversource Energy (NYSE:ES) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 15,936,793 shares of the utilities provider’s stock after acquiring an additional 516,965 shares during the period. Bank of New York Mellon Corp owned approximately 5.03% of Eversource Energy worth $963,220,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of ES. FMR LLC increased its stake in Eversource Energy by 35.3% during the first quarter. FMR LLC now owns 269,323 shares of the utilities provider’s stock valued at $15,830,000 after acquiring an additional 70,198 shares during the period. Dimensional Fund Advisors LP increased its stake in Eversource Energy by 6.0% during the first quarter. Dimensional Fund Advisors LP now owns 739,042 shares of the utilities provider’s stock valued at $43,440,000 after acquiring an additional 41,599 shares during the period. Gateway Investment Advisers LLC increased its stake in Eversource Energy by 1.3% during the second quarter. Gateway Investment Advisers LLC now owns 21,463 shares of the utilities provider’s stock valued at $1,303,000 after acquiring an additional 277 shares during the period. TNB Financial increased its stake in Eversource Energy by 0.9% during the second quarter. TNB Financial now owns 8,261 shares of the utilities provider’s stock valued at $502,000 after acquiring an additional 74 shares during the period. Finally, LS Investment Advisors LLC increased its stake in Eversource Energy by 0.3% during the second quarter. LS Investment Advisors LLC now owns 39,499 shares of the utilities provider’s stock valued at $2,398,000 after acquiring an additional 112 shares during the period. Hedge funds and other institutional investors own 72.43% of the company’s stock.
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In other news, COO Werner J. Schweiger sold 10,098 shares of the business’s stock in a transaction that occurred on Thursday, November 9th. The stock was sold at an average price of $64.68, for a total value of $653,138.64. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.53% of the stock is owned by insiders.
Several research firms have recently weighed in on ES. BidaskClub upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Zacks Investment Research lowered Eversource Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Bank of America Corporation began coverage on Eversource Energy in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $62.00 price objective on the stock. Morgan Stanley upped their price objective on Eversource Energy from $64.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. Finally, Williams Capital upped their price objective on Eversource Energy from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company. Eversource Energy has a consensus rating of “Hold” and a consensus price target of $64.06.
Shares of Eversource Energy (NYSE:ES) traded up $0.69 on Tuesday, hitting $64.76. The stock had a trading volume of 1,423,800 shares, compared to its average volume of 1,408,927. The firm has a market cap of $20,302.87, a P/E ratio of 20.80, a P/E/G ratio of 3.43 and a beta of 0.31. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95. Eversource Energy has a fifty-two week low of $50.56 and a fifty-two week high of $65.01.
Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $0.82 EPS for the quarter, missing the consensus estimate of $0.84 by ($0.02). The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $2.06 billion. Eversource Energy had a return on equity of 9.03% and a net margin of 12.84%. The firm’s revenue was down 2.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.83 earnings per share. sell-side analysts anticipate that Eversource Energy will post 3.15 EPS for the current fiscal year.
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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