Eversource Energy (ES) Position Increased by SG Americas Securities LLC
SG Americas Securities LLC raised its stake in shares of Eversource Energy (NYSE:ES) by 625.1% during the second quarter, Holdings Channel reports. The fund owned 382,593 shares of the utilities provider’s stock after buying an additional 329,826 shares during the period. SG Americas Securities LLC’s holdings in Eversource Energy were worth $23,227,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in ES. LLBH Private Wealth Management LLC acquired a new stake in shares of Eversource Energy during the second quarter valued at $202,000. State of Wisconsin Investment Board boosted its position in Eversource Energy by 18.2% in the second quarter. State of Wisconsin Investment Board now owns 418,997 shares of the utilities provider’s stock valued at $25,437,000 after buying an additional 64,540 shares during the period. LMR Partners LLP purchased a new position in Eversource Energy during the second quarter valued at approximately $933,000. Dupont Capital Management Corp boosted its position in Eversource Energy by 1.6% in the second quarter. Dupont Capital Management Corp now owns 41,239 shares of the utilities provider’s stock valued at $2,504,000 after buying an additional 638 shares during the period. Finally, Pinnacle Financial Partners Inc. boosted its position in Eversource Energy by 1.5% in the second quarter. Pinnacle Financial Partners Inc. now owns 5,106 shares of the utilities provider’s stock valued at $310,000 after buying an additional 75 shares during the period. Hedge funds and other institutional investors own 71.31% of the company’s stock.
Eversource Energy (NYSE:ES) opened at 62.05 on Tuesday. Eversource Energy has a one year low of $50.56 and a one year high of $63.34. The firm has a market capitalization of $19.66 billion, a PE ratio of 20.08 and a beta of 0.28. The stock has a 50 day moving average price of $60.97 and a 200-day moving average price of $59.73.
Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.68 by $0.04. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The company had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.91 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The business’s revenue was down .2% on a year-over-year basis. On average, equities analysts forecast that Eversource Energy will post $3.15 earnings per share for the current year.
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Several equities analysts have commented on the company. Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a report on Wednesday, June 21st. Barclays PLC reaffirmed an “equal weight” rating and issued a $66.00 price target (up previously from $62.00) on shares of Eversource Energy in a report on Thursday, June 1st. Morgan Stanley upped their price target on Eversource Energy from $63.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, June 6th. Credit Suisse Group reaffirmed a “hold” rating and issued a $59.00 price target on shares of Eversource Energy in a report on Tuesday, June 6th. Finally, Deutsche Bank AG cut Eversource Energy from a “buy” rating to a “hold” rating and upped their price target for the company from $61.00 to $61.50 in a report on Monday, July 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $62.95.
In related news, VP Werner J. Schweiger sold 36,736 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $62.00, for a total value of $2,277,632.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.53% of the company’s stock.
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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