LPL Financial LLC lessened its holdings in shares of Eversource Energy (NYSE:ES) by 3.0% in the 2nd quarter, Holdings Channel reports. The fund owned 60,779 shares of the utilities provider’s stock after selling 1,864 shares during the quarter. LPL Financial LLC’s holdings in Eversource Energy were worth $4,605,000 at the end of the most recent reporting period.
A number of other hedge funds have also added to or reduced their stakes in the business. Paragon Capital Management LLC raised its holdings in shares of Eversource Energy by 478.9% during the 2nd quarter. Paragon Capital Management LLC now owns 330 shares of the utilities provider’s stock worth $25,000 after acquiring an additional 273 shares during the period. Bremer Bank National Association acquired a new stake in Eversource Energy during the first quarter worth about $28,000. Centersquare Investment Management LLC raised its stake in Eversource Energy by 368,643.4% during the first quarter. Centersquare Investment Management LLC now owns 3,576,811 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 3,575,841 shares during the period. Kavar Capital Partners LLC purchased a new position in Eversource Energy during the second quarter worth about $30,000. Finally, Next Capital Management LLC acquired a new position in Eversource Energy in the 1st quarter valued at about $40,000. Institutional investors own 78.43% of the company’s stock.
Shares of Eversource Energy stock traded down $0.32 on Wednesday, reaching $81.55. The company had a trading volume of 76,992 shares, compared to its average volume of 1,487,570. The firm’s 50 day moving average price is $78.78 and its two-hundred day moving average price is $74.53. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.56 and a current ratio of 0.61. Eversource Energy has a 52-week low of $60.15 and a 52-week high of $83.10. The firm has a market cap of $26.47 billion, a PE ratio of 24.91, a PEG ratio of 4.23 and a beta of 0.20.
Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.74 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.73 by $0.01. Eversource Energy had a net margin of 10.00% and a return on equity of 9.24%. The firm had revenue of $1.88 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same quarter last year, the company posted $0.76 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, sell-side analysts predict that Eversource Energy will post 3.43 EPS for the current year.
Several research firms have recently weighed in on ES. Wells Fargo & Co increased their price target on shares of Eversource Energy from $86.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Guggenheim raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $76.00 to $88.00 in a research report on Wednesday, September 4th. KeyCorp began coverage on Eversource Energy in a report on Tuesday, June 4th. They issued an “overweight” rating and a $80.00 price objective on the stock. Zacks Investment Research upgraded Eversource Energy from a “sell” rating to a “hold” rating and set a $82.00 price objective for the company in a research report on Monday, June 17th. Finally, UBS Group increased their price objective on Eversource Energy from $86.00 to $91.00 and gave the stock a “buy” rating in a research report on Friday, September 6th. Two analysts have rated the stock with a sell rating, four have issued a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $78.17.
In other Eversource Energy news, CFO Philip J. Lembo sold 1,256 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $79.61, for a total transaction of $99,990.16. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP Gregory B. Butler sold 8,298 shares of the stock in a transaction dated Friday, August 2nd. The stock was sold at an average price of $77.30, for a total transaction of $641,435.40. The disclosure for this sale can be found here. 0.37% of the stock is owned by corporate insiders.
Eversource Energy Company Profile
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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