Easterly Investment Partners LLC Grows Holdings in Eversource Energy (NYSE:ES)

Easterly Investment Partners LLC lifted its stake in shares of Eversource Energy (NYSE:ES) by 2.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 180,648 shares of the utilities provider’s stock after acquiring an additional 4,054 shares during the period. Easterly Investment Partners LLC’s holdings in Eversource Energy were worth $10,245,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Salem Investment Counselors Inc. boosted its holdings in Eversource Energy by 49.7% during the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock worth $33,000 after buying an additional 181 shares in the last quarter. Bar Harbor Wealth Management boosted its holdings in Eversource Energy by 4.1% in the 2nd quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock valued at $271,000 after purchasing an additional 190 shares during the period. Avantax Advisory Services Inc. grew its stake in shares of Eversource Energy by 2.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock valued at $475,000 after purchasing an additional 192 shares during the period. Presima Securities ULC grew its stake in Eversource Energy by 1.5% during the fourth quarter. Presima Securities ULC now owns 13,730 shares of the utilities provider’s stock worth $847,000 after buying an additional 200 shares during the last quarter. Finally, Versant Capital Management Inc grew its stake 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 valued at $31,000 after purchasing an additional 201 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the stock. Scotiabank boosted their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. Barclays upped their price target on shares of Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Wells Fargo & Company upped their price target on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. BMO Capital Markets lowered their target price on Eversource Energy from $73.00 to $70.00 and set a “market perform” rating for the company in a report on Monday, August 19th. Finally, Bank of America raised Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 target price on the stock in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $68.43.

Insider Activity at Eversource Energy

In related news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction on Wednesday, May 29th. The stock was 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 $3,586,009.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the sale, the vice president now directly owns 63,808 shares in the company, valued at approximately $3,586,009.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were 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 of the company’s stock, valued at $639,464.18. The disclosure for this sale can be found here. Insiders sold a total of 14,015 shares of company stock valued at $806,478 in the last three months. 0.41% of the stock is currently owned by company insiders.

Eversource Energy Price Performance

Shares of NYSE:ES traded down $0.36 during trading on Friday, reaching $66.78. The stock had a trading volume of 1,562,967 shares, compared to its average volume of 2,534,246. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $68.72. The stock has a market cap of $23.52 billion, a PE ratio of -56.59, a PEG ratio of 2.53 and a beta of 0.59. The business has a fifty day moving average price of $61.67 and a 200-day moving average price of $59.96. 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 (NYSE:ES) last posted its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.95. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter last year, the company posted $1.00 EPS. On average, equities analysts forecast that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

About Eversource Energy

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.