Strategy Asset Managers LLC Takes $182,000 Position in Eversource Energy (NYSE:ES)

Strategy Asset Managers LLC purchased a new stake in Eversource Energy (NYSE:ES) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,217 shares of the utilities provider’s stock, valued at approximately $182,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ES. Heritage Wealth Advisors purchased a new stake in Eversource Energy during the 4th quarter worth about $25,000. Lynx Investment Advisory purchased a new stake in Eversource Energy during the 2nd quarter worth about $25,000. Rise Advisors LLC purchased a new stake in Eversource Energy during the 1st quarter worth about $27,000. Versant Capital Management Inc increased its position in Eversource Energy by 62.6% during the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 201 shares in the last quarter. Finally, Salem Investment Counselors Inc. increased its position in Eversource Energy by 49.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 181 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insiders Place Their Bets

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

Eversource Energy Stock Performance

Eversource Energy stock opened at $68.17 on Thursday. The stock’s 50 day moving average price is $63.21 and its 200 day moving average price is $60.56. The firm has a market capitalization of $24.01 billion, a PE ratio of -57.77, a price-to-earnings-growth ratio of 2.58 and a beta of 0.59. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75. Eversource Energy has a one year low of $52.03 and a one year high of $68.72.

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

Analysts Set New Price Targets

A number of analysts have issued reports on the company. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Barclays raised their price target on Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Morgan Stanley lifted their price objective on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Scotiabank lifted their price objective on 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, Wells Fargo & Company lifted their price objective on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have issued a buy rating to the stock. According to MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and an average target price of $68.93.

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.