Kentucky Retirement Systems Acquires New Stake in Eversource Energy (NYSE:ES)

Kentucky Retirement Systems purchased a new stake in Eversource Energy (NYSE:ES) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 18,730 shares of the utilities provider’s stock, valued at approximately $1,560,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of ES. Sound Income Strategies LLC acquired a new position in Eversource Energy during the second quarter valued at approximately $32,000. Lindbrook Capital LLC boosted its holdings in Eversource Energy by 44.4% during the second quarter. Lindbrook Capital LLC now owns 400 shares of the utilities provider’s stock valued at $33,000 after purchasing an additional 123 shares in the last quarter. Centersquare Investment Management LLC bought a new stake in Eversource Energy in the first quarter valued at $49,000. Verus Capital Partners LLC grew its holdings in shares of Eversource Energy by 40.8% in the 1st quarter. Verus Capital Partners LLC now owns 690 shares of the utilities provider’s stock worth $54,000 after purchasing an additional 200 shares during the last quarter. Finally, Elmwood Wealth Management Inc. acquired a new stake in shares of Eversource Energy during the first quarter worth approximately $41,000. Hedge funds and other institutional investors own 77.98% of the company’s stock.

ES has been the topic of a number of research reports. Morgan Stanley upped their target price on shares of Eversource Energy from $77.00 to $80.00 and gave the stock an “underweight” rating in a research report on Friday, July 17th. Guggenheim cut shares of Eversource Energy from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $95.00 to $91.00 in a research note on Monday, August 24th. Seaport Global Securities assumed coverage on shares of Eversource Energy in a research report on Wednesday, May 20th. They set a “buy” rating and a $88.00 target price for the company. KeyCorp cut their price target on Eversource Energy from $100.00 to $95.00 and set an “overweight” rating on the stock in a research note on Tuesday, July 21st. Finally, Credit Suisse Group cut Eversource Energy from a “neutral” rating to an “underperform” rating and lifted their price objective for the stock from $76.00 to $81.00 in a research note on Monday, July 20th. They noted that the move was a valuation call. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $90.60.

In other news, VP Gregory B. Butler sold 5,625 shares of the company’s stock in a transaction on Monday, August 3rd. The shares were sold at an average price of $88.81, for a total transaction of $499,556.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.26% of the company’s stock.

ES stock opened at $85.71 on Tuesday. The company has a quick ratio of 0.67, a current ratio of 0.72 and a debt-to-equity ratio of 0.99. The firm has a market cap of $29.05 billion, a P/E ratio of 24.49, a P/E/G ratio of 3.53 and a beta of 0.35. The company’s 50-day moving average price is $87.56 and its two-hundred day moving average price is $85.25. Eversource Energy has a 12 month low of $60.69 and a 12 month high of $99.42.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.01). The company had revenue of $1.95 billion for the quarter, compared to analyst estimates of $2.04 billion. Eversource Energy had a return on equity of 8.99% and a net margin of 13.52%. Equities analysts predict that Eversource Energy will post 3.64 EPS for the current year.

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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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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