Addison Advisors LLC Buys 185 Shares of Eversource Energy (NYSE:ES)

Addison Advisors LLC lifted its stake in shares of Eversource Energy (NYSE:ES) by 27.4% in the second quarter, according to its most recent filing with the SEC. The fund owned 860 shares of the utilities provider’s stock after acquiring an additional 185 shares during the period. Addison Advisors LLC’s holdings in Eversource Energy were worth $49,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in ES. Mitsubishi UFJ Trust & Banking Corp lifted its stake in Eversource Energy by 65.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after purchasing an additional 1,524,341 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Eversource Energy by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock worth $177,823,000 after purchasing an additional 354,429 shares during the last quarter. Magellan Asset Management Ltd lifted its stake in Eversource Energy by 5.4% in the fourth quarter. Magellan Asset Management Ltd now owns 3,067,091 shares of the utilities provider’s stock worth $189,301,000 after purchasing an additional 156,534 shares during the last quarter. ClearBridge Investments Ltd bought a new stake in Eversource Energy in the first quarter worth $156,093,000. Finally, Zimmer Partners LP lifted its stake in Eversource Energy by 730.4% in the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after purchasing an additional 2,231,585 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have weighed in on ES shares. Morgan Stanley boosted their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. BMO Capital Markets lowered their price objective on shares of Eversource Energy from $73.00 to $70.00 and set a “market perform” rating for the company in a research note on Monday, August 19th. Wells Fargo & Company upped their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Scotiabank upped their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Bank of America upped their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $68.93.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the sale, the executive vice president now owns 9,847 shares in the company, valued at $639,464.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the company’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the sale, the executive vice president now owns 9,847 shares in the company, valued at $639,464.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the transaction, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Price Performance

Shares of NYSE ES opened at $67.39 on Friday. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $69.01. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66. The company’s 50-day moving average is $63.64 and its 200 day moving average is $60.67. The stock has a market capitalization of $23.74 billion, a P/E ratio of -57.11, a P/E/G ratio of 2.58 and a beta of 0.59.

Eversource Energy (NYSE:ES) last announced 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 business had revenue of $2.53 billion for 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 business’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.00 earnings per share. On average, sell-side analysts expect that Eversource Energy will post 4.56 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 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.