Strs Ohio cut its stake in Eversource Energy (NYSE:ES) by 12.3% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,460 shares of the utilities provider’s stock after selling 4,401 shares during the period. Strs Ohio’s holdings in Eversource Energy were worth $1,909,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Eversource Energy by 3.5% in the first quarter. Vanguard Group Inc. now owns 32,273,965 shares of the utilities provider’s stock valued at $1,897,064,000 after buying an additional 1,078,978 shares in the last quarter. BlackRock Inc. increased its position in Eversource Energy by 2,396.3% in the first quarter. BlackRock Inc. now owns 23,980,820 shares of the utilities provider’s stock valued at $1,409,592,000 after buying an additional 23,020,171 shares in the last quarter. Wellington Management Group LLP increased its position in Eversource Energy by 3.8% in the first quarter. Wellington Management Group LLP now owns 12,852,374 shares of the utilities provider’s stock valued at $755,462,000 after buying an additional 464,555 shares in the last quarter. Thomaspartners Inc. increased its position in Eversource Energy by 9.4% in the first quarter. Thomaspartners Inc. now owns 3,947,433 shares of the utilities provider’s stock valued at $232,030,000 after buying an additional 339,289 shares in the last quarter. Finally, Geode Capital Management LLC increased its position in Eversource Energy by 9.8% in the first quarter. Geode Capital Management LLC now owns 3,186,475 shares of the utilities provider’s stock valued at $187,038,000 after buying an additional 285,575 shares in the last quarter. 71.03% of the stock is currently owned by institutional investors.
Eversource Energy (NYSE ES) opened at 62.22 on Friday. The stock has a market cap of $19.72 billion, a P/E ratio of 20.14 and a beta of 0.28. The firm’s 50-day moving average is $60.98 and its 200-day moving average is $59.55. Eversource Energy has a 52-week low of $50.56 and a 52-week high of $63.34.
Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ 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 net margin of 12.81% and a return on equity of 9.15%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.64 earnings per share. Equities research analysts predict that Eversource Energy will post $3.15 earnings per share for the current year.
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ES has been the topic of several recent analyst reports. BMO Capital Markets raised their price target on shares of Eversource Energy from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Monday, May 15th. Citigroup Inc. raised their price target on shares of Eversource Energy from $54.00 to $58.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 25th. Zacks Investment Research raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Monday, June 5th. Janney Montgomery Scott set a $71.00 price target on shares of Eversource Energy and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Deutsche Bank AG downgraded shares of Eversource Energy from a “buy” rating to a “hold” rating and raised their price target for the stock from $61.00 to $61.50 in a research note on Monday, July 31st. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $62.95.
In other news, VP Werner J. Schweiger sold 36,736 shares of the stock in a transaction dated Wednesday, May 31st. The shares were sold at an average price of $62.00, for a total transaction of $2,277,632.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.53% of the stock is currently 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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