State of New Jersey Common Pension Fund D held its position in shares of Eversource Energy (NYSE:ES) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 135,000 shares of the utilities provider’s stock at the end of the second quarter. State of New Jersey Common Pension Fund D’s holdings in Eversource Energy were worth $8,196,000 at the end of the most recent quarter.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of 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 during the period. BlackRock Inc. raised its position in shares of 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 during the period. Wellington Management Group LLP raised its position in shares of 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 during the period. Thomaspartners Inc. raised its position in shares of 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 during the period. Finally, Geode Capital Management LLC raised its position in shares of 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 during the period. 71.03% of the stock is owned by institutional investors and hedge funds.
Shares of Eversource Energy (ES) opened at 62.22 on Friday. Eversource Energy has a 52-week low of $50.56 and a 52-week high of $63.34. 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 price is $60.98 and its 200 day moving average price is $59.55.
Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. Eversource Energy had a net margin of 12.81% and a return on equity of 9.15%. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.91 billion. During the same quarter in the previous year, the firm posted $0.64 EPS. The company’s revenue for the quarter was down .2% compared to the same quarter last year. On average, analysts expect that Eversource Energy will post $3.15 EPS for the current year.
Several equities analysts have weighed in on ES shares. BMO Capital Markets increased their price objective on Eversource Energy from $57.00 to $61.00 and gave the company a “market perform” rating in a report on Monday, May 15th. Citigroup Inc. increased their price objective on Eversource Energy from $54.00 to $58.00 and gave the company a “neutral” rating in a report on Tuesday, April 25th. Zacks Investment Research raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Monday, June 5th. Janney Montgomery Scott set a $71.00 price objective on Eversource Energy and gave the company a “buy” rating in a report on Monday, July 31st. Finally, Deutsche Bank AG lowered Eversource Energy from a “buy” rating to a “hold” rating and increased their price objective for the company from $61.00 to $61.50 in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $62.95.
In other news, VP Werner J. Schweiger sold 36,736 shares of the business’s stock in a transaction on 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 filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.53% of the company’s stock.
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.
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