First Citizens Bank & Trust Co. bought a new position in Eversource Energy (NYSE:ES) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 35,246 shares of the utilities provider’s stock, valued at approximately $2,140,000.
A number of other institutional investors have also recently modified their holdings of ES. Brookfield Asset Management Inc. purchased a new position in shares of Eversource Energy during the first quarter worth approximately $106,000. Advisory Services Network LLC purchased a new position in shares of Eversource Energy during the first quarter worth approximately $112,000. Northwestern Mutual Wealth Management Co. increased its position in shares of Eversource Energy by 24.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,005 shares of the utilities provider’s stock worth $119,000 after buying an additional 400 shares during the period. NEXT Financial Group Inc increased its position in shares of Eversource Energy by 168.9% in the second quarter. NEXT Financial Group Inc now owns 2,420 shares of the utilities provider’s stock worth $147,000 after buying an additional 1,520 shares during the period. Finally, First Personal Financial Services increased its position in shares of Eversource Energy by 180.2% in the first quarter. First Personal Financial Services now owns 2,567 shares of the utilities provider’s stock worth $151,000 after buying an additional 1,651 shares during the period. 71.03% of the stock is currently owned by institutional investors.
Eversource Energy (NYSE:ES) opened at 61.86 on Friday. The company has a 50 day moving average of $60.97 and a 200-day moving average of $59.60. Eversource Energy has a one year low of $50.56 and a one year high of $63.34. The firm has a market cap of $19.60 billion, a PE ratio of 20.02 and a beta of 0.28.
Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. Eversource Energy had a net margin of 12.81% and a return on equity of 9.15%. The firm had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter last year, the firm posted $0.64 earnings per share. Eversource Energy’s revenue for the quarter was down .2% compared to the same quarter last year. On average, equities research analysts predict that Eversource Energy will post $3.15 earnings per share for the current year.
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A number of equities analysts have commented on the stock. Deutsche Bank AG downgraded shares of Eversource Energy from a “buy” rating to a “hold” rating and lifted their target price for the stock from $61.00 to $61.50 in a research note on Monday, July 31st. Janney Montgomery Scott set a $71.00 target price on shares of Eversource Energy and gave the stock a “buy” rating in a research note on Monday, July 31st. Morgan Stanley lifted their target price on shares of Eversource Energy from $64.00 to $66.00 and gave the stock an “equal weight” rating in a research note on Thursday. BMO Capital Markets lifted their price target on shares of Eversource Energy from $57.00 to $61.00 and gave the company a “market perform” rating in a research report on Monday, May 15th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $66.00 price target (up from $62.00) on shares of Eversource Energy in a research report on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $62.95.
In related news, VP Werner J. Schweiger sold 36,736 shares of the firm’s stock in a transaction that occurred on Wednesday, May 31st. The shares were sold at an average price of $62.00, for a total value of $2,277,632.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.53% of the company’s stock.
About Eversource Energy
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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