Adage Capital Partners GP L.L.C. Has $87,468,000 Stake in Eversource Energy (ES)
Adage Capital Partners GP L.L.C. increased its stake in Eversource Energy (NYSE:ES) by 211.4% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,460,239 shares of the company’s stock after buying an additional 991,300 shares during the period. Adage Capital Partners GP L.L.C. owned approximately 0.46% of Eversource Energy worth $87,468,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Usca Ria LLC increased its stake in shares of Eversource Energy by 420.0% in the second quarter. Usca Ria LLC now owns 33,059 shares of the company’s stock worth $1,980,000 after buying an additional 26,702 shares during the last quarter. First Allied Advisory Services Inc. increased its stake in shares of Eversource Energy by 109.6% in the second quarter. First Allied Advisory Services Inc. now owns 9,439 shares of the company’s stock worth $566,000 after buying an additional 4,936 shares during the last quarter. Guggenheim Capital LLC raised its position in shares of Eversource Energy by 10.9% in the second quarter. Guggenheim Capital LLC now owns 926,888 shares of the company’s stock valued at $55,521,000 after buying an additional 91,229 shares during the period. Cantab Capital Partners LLP raised its position in shares of Eversource Energy by 112.7% in the second quarter. Cantab Capital Partners LLP now owns 7,696 shares of the company’s stock valued at $461,000 after buying an additional 4,078 shares during the period. Finally, Veritable L.P. raised its position in shares of Eversource Energy by 7.0% in the second quarter. Veritable L.P. now owns 13,021 shares of the company’s stock valued at $780,000 after buying an additional 857 shares during the period. 69.48% of the stock is owned by hedge funds and other institutional investors.
Eversource Energy (NYSE:ES) traded down 0.75% on Friday, hitting $51.95. The stock had a trading volume of 1,548,674 shares. The company’s 50 day moving average price is $53.79 and its 200 day moving average price is $55.84. Eversource Energy has a 52-week low of $48.18 and a 52-week high of $60.44. The firm has a market cap of $16.46 billion, a price-to-earnings ratio of 18.49 and a beta of 0.31.
Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, November 2nd. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.80 by $0.03. The company earned $2.04 billion during the quarter, compared to the consensus estimate of $2.05 billion. Eversource Energy had a net margin of 11.85% and a return on equity of 8.61%. Eversource Energy’s quarterly revenue was up 5.5% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.75 EPS. Analysts expect that Eversource Energy will post $2.98 EPS for the current year.
Several brokerages have weighed in on ES. Zacks Investment Research raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Monday, July 18th. Barclays PLC reduced their price objective on Eversource Energy from $65.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, October 4th. Janney Montgomery Scott raised Eversource Energy from a “neutral” rating to a “buy” rating and set a $67.00 price objective for the company in a research note on Monday, August 1st. Citigroup Inc. dropped their price objective on Eversource Energy from $61.00 to $54.00 and set a “neutral” rating for the company in a research note on Tuesday, October 4th. Finally, Argus reissued a “buy” rating and set a $59.00 price objective (down previously from $64.00) on shares of Eversource Energy in a research note on Wednesday, October 12th. Six equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $59.67.
In related news, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $54.77, for a total value of $547,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.89% of the stock is currently owned by corporate insiders.
About Eversource Energy
Eversource Energy, formerly Northeast Utilities, 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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