Eversource Energy (NYSE:ES) Position Raised by CIBC Asset Management Inc

CIBC Asset Management Inc increased its position in Eversource Energy (NYSE:ES) by 0.3% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,917 shares of the utilities provider’s stock after buying an additional 96 shares during the period. CIBC Asset Management Inc’s holdings in Eversource Energy were worth $1,938,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. National Pension Service increased 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 worth $16,491,000 after buying an additional 13,452 shares in the last quarter. Brookfield Asset Management Inc. bought a new stake in shares of Eversource Energy during the first quarter worth about $106,000. KCG Holdings Inc. increased 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 worth $1,392,000 after buying an additional 10,443 shares in the last quarter. Bank of Montreal Can increased 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 worth $28,342,000 after buying an additional 49,467 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of Eversource Energy during the first quarter worth about $9,867,000. 71.31% of the stock is currently owned by institutional investors and hedge funds.

Shares of Eversource Energy (ES) traded up 0.96% on Friday, hitting $63.06. The stock had a trading volume of 1,481,023 shares. Eversource Energy has a 1-year low of $50.56 and a 1-year high of $63.34. The company has a market capitalization of $19.98 billion, a PE ratio of 20.41 and a beta of 0.28. The firm has a 50-day moving average of $61.09 and a 200 day moving average 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, topping the consensus estimate of $0.68 by $0.04. Eversource Energy had a net margin of 12.81% and a return on equity of 9.15%. The company had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.91 billion. During the same period in the previous year, the business earned $0.64 earnings per share. The firm’s quarterly revenue was down .2% compared to the same quarter last year. On average, equities analysts anticipate that Eversource Energy will post $3.15 earnings per share for the current fiscal year.

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ES has been the topic of a number of analyst reports. Credit Suisse Group reissued a “hold” rating and set a $59.00 price target on shares of Eversource Energy in a research report on Tuesday, June 6th. Morgan Stanley raised their target price on Eversource Energy from $63.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, June 6th. Janney Montgomery Scott set a $71.00 target price on Eversource Energy and gave the company a “buy” rating in a report on Monday, July 31st. Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a report on Tuesday, June 13th. Finally, Barclays PLC reaffirmed an “equal weight” rating and issued a $66.00 target price (up previously from $62.00) on shares of Eversource Energy in a report on Thursday, June 1st. Eight analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. Eversource Energy has an average rating of “Hold” and an average price target of $62.95.

In related news, VP Werner J. Schweiger sold 48,544 shares of the company’s stock in a transaction on Tuesday, May 23rd. The shares were sold at an average price of $61.01, for a total value of $2,961,669.44. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.53% of the stock is currently owned by 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.

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

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