Cape Cod Five Cents Savings Bank reduced its stake in shares of Eversource Energy (NYSE:ES) by 1.7% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,845 shares of the utilities provider’s stock after selling 260 shares during the period. Cape Cod Five Cents Savings Bank’s holdings in Eversource Energy were worth $901,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of ES. National Pension Service boosted its stake in shares of Eversource Energy by 5.0% in the first quarter. National Pension Service now owns 281,316 shares of the utilities provider’s stock valued at $16,491,000 after buying an additional 13,452 shares during the last quarter. Brookfield Asset Management Inc. bought a new stake in shares of Eversource Energy during the first quarter valued at $106,000. KCG Holdings Inc. boosted its stake in shares of Eversource Energy by 78.9% in the first quarter. KCG Holdings Inc. now owns 23,680 shares of the utilities provider’s stock valued at $1,392,000 after buying an additional 10,443 shares during the last quarter. Bank of Montreal Can boosted its stake in shares of Eversource Energy by 11.4% in the first quarter. Bank of Montreal Can now owns 482,160 shares of the utilities provider’s stock valued at $28,342,000 after buying an additional 49,467 shares during the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Eversource Energy during the first quarter valued at $9,867,000. 71.03% of the stock is owned by institutional investors.
Eversource Energy (ES) traded down 0.58% during mid-day trading on Friday, reaching $61.86. The company’s stock had a trading volume of 1,416,436 shares. The firm has a market cap of $19.60 billion, a PE ratio of 20.02 and a beta of 0.28. Eversource Energy has a 12-month low of $50.56 and a 12-month high of $63.34. The company has a 50-day moving average price of $60.97 and a 200-day moving average price of $59.60.
Eversource Energy (NYSE:ES) last released its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.68 by $0.04. The firm 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 company’s revenue was down .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.64 EPS. On average, equities research analysts expect that Eversource Energy will post $3.15 earnings per share for the current year.
Several equities research analysts recently commented on ES shares. Credit Suisse Group reaffirmed a “hold” rating and set a $59.00 target price on shares of Eversource Energy in a research note on Tuesday, June 6th. Morgan Stanley increased their price target on Eversource Energy from $63.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 6th. Janney Montgomery Scott set a $71.00 price target on Eversource Energy and gave the stock a “buy” rating in a report on Monday, July 31st. Zacks Investment Research upgraded Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Tuesday, June 13th. Finally, Barclays PLC reiterated 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. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $62.95.
In related news, VP Werner J. Schweiger sold 36,736 shares of the firm’s stock in a transaction 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 SEC, which is available through this link. 0.53% of the stock is owned by corporate insiders.
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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