Pinnacle Associates Ltd. Sells 3,825 Shares of Eversource Energy (ES)

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Pinnacle Associates Ltd. lowered its holdings in Eversource Energy (NYSE:ES) by 4.9% during the 2nd quarter, Holdings Channel reports. The firm owned 73,864 shares of the utilities provider’s stock after selling 3,825 shares during the quarter. Pinnacle Associates Ltd.’s holdings in Eversource Energy were worth $4,329,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in ES. OLD Dominion Capital Management Inc. raised its stake in Eversource Energy by 145.4% during the first quarter. OLD Dominion Capital Management Inc. now owns 10,885 shares of the utilities provider’s stock valued at $641,000 after buying an additional 6,450 shares during the last quarter. Dupont Capital Management Corp raised its stake in Eversource Energy by 5.5% during the first quarter. Dupont Capital Management Corp now owns 35,487 shares of the utilities provider’s stock valued at $2,091,000 after buying an additional 1,840 shares during the last quarter. Thomaspartners Inc. raised its stake in Eversource Energy by 4.5% during the first quarter. Thomaspartners Inc. now owns 4,471,212 shares of the utilities provider’s stock valued at $263,444,000 after buying an additional 191,651 shares during the last quarter. Wedge Capital Management L L P NC raised its stake in Eversource Energy by 2.3% during the first quarter. Wedge Capital Management L L P NC now owns 195,980 shares of the utilities provider’s stock valued at $11,547,000 after buying an additional 4,406 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in Eversource Energy during the first quarter valued at $376,000. 76.13% of the stock is currently owned by institutional investors.

A number of research analysts have issued reports on the company. Citigroup upgraded Eversource Energy from a “sell” rating to a “neutral” rating and set a $59.00 price objective for the company in a research note on Tuesday, May 1st. Bank of America upgraded Eversource Energy from an “underperform” rating to a “neutral” rating and set a $59.00 price objective for the company in a research note on Friday, August 3rd. Credit Suisse Group upgraded Eversource Energy from an “underperform” rating to a “neutral” rating and lifted their price objective for the company from $58.00 to $62.00 in a research note on Monday, July 9th. Morgan Stanley lifted their target price on Eversource Energy from $59.00 to $63.00 and gave the stock a “hold” rating in a report on Monday, July 16th. Finally, Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $66.00 target price for the company in a report on Tuesday, July 17th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $62.30.

Eversource Energy stock opened at $63.12 on Tuesday. The firm has a market capitalization of $20.04 billion, a price-to-earnings ratio of 19.89, a price-to-earnings-growth ratio of 3.28 and a beta of 0.30. Eversource Energy has a 12 month low of $52.76 and a 12 month high of $66.15. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.65 and a quick ratio of 0.60.

Eversource Energy (NYSE:ES) last posted its earnings results on Tuesday, July 31st. The utilities provider reported $0.76 EPS for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.01. The business had revenue of $1.85 billion during the quarter, compared to analyst estimates of $1.81 billion. Eversource Energy had a return on equity of 9.07% and a net margin of 12.59%. equities research analysts forecast that Eversource Energy will post 3.25 earnings per share for the current year.

About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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

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