Wells Fargo & Company MN trimmed its holdings in shares of Eversource Energy (NYSE:ES) by 0.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,311,921 shares of the utilities provider’s stock after selling 54,155 shares during the period. Wells Fargo & Company MN owned about 1.99% of Eversource Energy worth $387,804,000 at the end of the most recent reporting period.
Other hedge funds have also made changes to their positions in the company. Charles Schwab Investment Advisory Inc. acquired a new position in shares of Eversource Energy during the second quarter worth $268,926,000. Bank of New York Mellon Corp lifted its position in shares of Eversource Energy by 14.0% during the second quarter. Bank of New York Mellon Corp now owns 14,651,624 shares of the utilities provider’s stock worth $858,731,000 after purchasing an additional 1,803,735 shares in the last quarter. Advisors Asset Management Inc. lifted its position in shares of Eversource Energy by 9,315.8% during the second quarter. Advisors Asset Management Inc. now owns 1,270,856 shares of the utilities provider’s stock worth $955,000 after purchasing an additional 1,257,359 shares in the last quarter. Millennium Management LLC acquired a new position in shares of Eversource Energy during the second quarter worth $61,134,000. Finally, Magellan Asset Management Ltd lifted its position in shares of Eversource Energy by 63.4% during the second quarter. Magellan Asset Management Ltd now owns 2,480,436 shares of the utilities provider’s stock worth $145,378,000 after purchasing an additional 962,538 shares in the last quarter. 73.61% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE:ES opened at $62.92 on Tuesday. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.59 and a quick ratio of 0.54. The firm has a market capitalization of $19.71 billion, a P/E ratio of 20.23, a P/E/G ratio of 3.21 and a beta of 0.16. Eversource Energy has a 12-month low of $52.76 and a 12-month high of $66.15.
Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.03. The business had revenue of $2.27 billion during the quarter, compared to analyst estimates of $2.06 billion. Eversource Energy had a net margin of 12.51% and a return on equity of 9.32%. The business’s revenue was up 14.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.82 earnings per share. Equities research analysts predict that Eversource Energy will post 3.26 earnings per share for the current year.
In related news, EVP Leon J. Olivier sold 50,000 shares of Eversource Energy stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $62.03, for a total value of $3,101,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.45% of the stock is currently owned by insiders.
A number of research analysts have recently commented on the stock. ValuEngine raised shares of Eversource Energy from a “hold” rating to a “buy” rating in a research report on Wednesday, October 24th. Morgan Stanley set a $66.00 target price on shares of Eversource Energy and gave the stock a “hold” rating in a research report on Thursday, October 11th. Zacks Investment Research upgraded shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $66.00 price target for the company in a research note on Tuesday, July 17th. Citigroup lifted their price target on shares of Eversource Energy from $59.00 to $63.00 and gave the stock a “hold” rating in a research note on Tuesday, September 25th. Finally, Bank of America upgraded shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $59.00 price target for the company in a research note on Friday, August 3rd. Seven investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company. The stock has an average rating of “Buy” and an average price target of $63.64.
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Eversource Energy Profile
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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