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.
Featured Story: Why do companies issue convertible shares?
Want to see what other hedge funds are holding ES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eversource Energy (NYSE:ES).
Receive News & Ratings for Eversource Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eversource Energy and related companies with MarketBeat.com's FREE daily email newsletter.