Nuveen Asset Management LLC Sells 6,184 Shares of Eversource Energy (ES)
Nuveen Asset Management LLC decreased its stake in Eversource Energy (NYSE:ES) by 28.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,883 shares of the utilities provider’s stock after selling 6,184 shares during the period. Nuveen Asset Management LLC’s holdings in Eversource Energy were worth $934,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the company. Brookfield Asset Management Inc. purchased a new position in shares of Eversource Energy during the first quarter worth $106,000. Advisory Services Network LLC bought a new position in Eversource Energy during the first quarter worth approximately $112,000. Northwestern Mutual Wealth Management Co. boosted its position in Eversource Energy by 24.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,005 shares of the utilities provider’s stock worth $119,000 after buying an additional 400 shares during the period. First Personal Financial Services boosted its position in Eversource Energy by 180.2% in the first quarter. First Personal Financial Services now owns 2,567 shares of the utilities provider’s stock worth $151,000 after buying an additional 1,651 shares during the period. Finally, Van ECK Associates Corp boosted its position in Eversource Energy by 18.0% in the first quarter. Van ECK Associates Corp now owns 2,736 shares of the utilities provider’s stock worth $161,000 after buying an additional 418 shares during the period. Hedge funds and other institutional investors own 71.31% of the company’s stock.
Shares of Eversource Energy (ES) traded up 0.96% during mid-day trading on Friday, reaching $63.06. The company had a trading volume of 1,481,023 shares. Eversource Energy has a 12-month low of $50.56 and a 12-month high of $63.34. The firm has a market capitalization of $19.98 billion, a PE ratio of 20.41 and a beta of 0.28. The stock has a 50 day moving average price of $61.09 and a 200 day moving average price of $59.89.
Eversource Energy (NYSE:ES) last announced its earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $1.76 billion for the quarter, compared to analysts’ expectations of $1.91 billion. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The business’s revenue for the quarter was down .2% on a year-over-year basis. During the same quarter last year, the firm earned $0.64 EPS. On average, equities analysts forecast that Eversource Energy will post $3.15 earnings per share for the current year.
A number of research firms have commented on ES. BidaskClub raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research report on Friday. Morgan Stanley boosted their target price on shares of Eversource Energy from $64.00 to $66.00 and gave the company an “equal weight” rating in a research report on Thursday, August 10th. Deutsche Bank AG cut shares of Eversource Energy from a “buy” rating to a “hold” rating and boosted their target price for the company from $61.00 to $61.50 in a research report on Monday, July 31st. BMO Capital Markets boosted their target price on shares of Eversource Energy from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Monday, May 15th. Finally, Janney Montgomery Scott set a $71.00 price target on Eversource Energy and gave the company a “buy” rating in a research note on Monday, July 31st. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $62.95.
In other Eversource Energy news, VP Werner J. Schweiger sold 48,544 shares of the stock in a transaction on Tuesday, May 23rd. The stock was sold at an average price of $61.01, for a total transaction of $2,961,669.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. 0.53% of the stock is currently owned by company insiders.
Eversource Energy Company Profile
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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