Great Valley Advisor Group Inc. Buys 6,991 Shares of Eversource Energy (NYSE:ES)

Great Valley Advisor Group Inc. grew its position in shares of Eversource Energy (NYSE:ES) by 13.0% during the second quarter, according to its most recent filing with the SEC. The firm owned 60,834 shares of the utilities provider’s stock after acquiring an additional 6,991 shares during the period. Great Valley Advisor Group Inc.’s holdings in Eversource Energy were worth $3,450,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ES. Heritage Wealth Advisors purchased a new position in shares of Eversource Energy in the 4th quarter worth $25,000. Lynx Investment Advisory purchased a new position in shares of Eversource Energy during the second quarter valued at about $25,000. Rise Advisors LLC purchased a new position in Eversource Energy in the first quarter worth about $27,000. Bfsg LLC purchased a new position in shares of Eversource Energy during the fourth quarter valued at approximately $31,000. Finally, Versant Capital Management Inc lifted its position in shares of Eversource Energy by 62.6% during the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 201 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the transaction, the vice president now directly owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total value of $562,000.00. Following the completion of the sale, the vice president now directly owns 63,808 shares in the company, valued at approximately $3,586,009.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The disclosure for this sale can be found here. Over the last quarter, insiders sold 13,200 shares of company stock worth $753,095. Insiders own 0.41% of the company’s stock.

Eversource Energy Price Performance

ES traded up $0.69 on Wednesday, hitting $66.44. 633,057 shares of the company were exchanged, compared to its average volume of 2,526,491. The business’s fifty day moving average is $60.53 and its 200 day moving average is $59.32. The firm has a market capitalization of $23.40 billion, a P/E ratio of -55.72, a price-to-earnings-growth ratio of 2.53 and a beta of 0.59. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.68 and a current ratio of 0.77. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $68.72.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting analysts’ consensus estimates of $0.95. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. Eversource Energy’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.00 earnings per share. As a group, sell-side analysts anticipate that Eversource Energy will post 4.56 EPS for the current year.

Wall Street Analyst Weigh In

ES has been the subject of several research reports. BMO Capital Markets boosted their price objective on shares of Eversource Energy from $69.00 to $73.00 and gave the company a “market perform” rating in a research report on Monday, August 5th. Morgan Stanley reduced their price objective on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. Wells Fargo & Company lifted their price target on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Scotiabank cut their target price on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Finally, Bank of America upgraded shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 price target on the stock in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, Eversource Energy has an average rating of “Hold” and a consensus price target of $67.43.

Eversource Energy Profile

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