Eastern Bank Has $308,000 Position in Eversource Energy (ES)

Eastern Bank continued to hold its position in Eversource Energy (NYSE:ES) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 5,089 shares of the utilities provider’s stock at the end of the second quarter. Eastern Bank’s holdings in Eversource Energy were worth $308,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in Eversource Energy by 3.5% in the first quarter. Vanguard Group Inc. now owns 32,273,965 shares of the utilities provider’s stock valued at $1,897,064,000 after buying an additional 1,078,978 shares during the period. BlackRock Inc. raised its stake in shares of Eversource Energy by 2,396.3% in the first quarter. BlackRock Inc. now owns 23,980,820 shares of the utilities provider’s stock worth $1,409,592,000 after buying an additional 23,020,171 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Eversource Energy by 3.8% in the first quarter. Wellington Management Group LLP now owns 12,852,374 shares of the utilities provider’s stock worth $755,462,000 after buying an additional 464,555 shares in the last quarter. Thomaspartners Inc. raised its stake in shares of Eversource Energy by 9.4% in the first quarter. Thomaspartners Inc. now owns 3,947,433 shares of the utilities provider’s stock worth $232,030,000 after buying an additional 339,289 shares in the last quarter. Finally, Geode Capital Management LLC raised its stake in shares of Eversource Energy by 9.8% in the first quarter. Geode Capital Management LLC now owns 3,186,475 shares of the utilities provider’s stock worth $187,038,000 after buying an additional 285,575 shares in the last quarter. Hedge funds and other institutional investors own 71.31% of the company’s stock.

Shares of Eversource Energy (ES) opened at 63.06 on Friday. The firm has a 50-day moving average price of $61.09 and a 200 day moving average price of $59.89. Eversource Energy has a 52-week low of $50.56 and a 52-week high of $63.34. The stock has a market cap of $19.98 billion, a price-to-earnings ratio of 20.41 and a beta of 0.28.

Eversource Energy (NYSE:ES) last released its earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The business had revenue of $1.76 billion for the quarter, compared to analyst estimates of $1.91 billion. During the same quarter in the previous year, the company posted $0.64 earnings per share. The company’s revenue for the quarter was down .2% compared to the same quarter last year. Analysts expect that Eversource Energy will post $3.15 earnings per share for the current year.

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A number of equities research analysts recently commented on ES shares. Zacks Investment Research upgraded Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 target price on the stock in a research report on Wednesday, June 21st. Janney Montgomery Scott set a $71.00 target price on Eversource Energy and gave the company a “buy” rating in a research report on Monday, July 31st. Barclays PLC reiterated an “equal weight” rating and issued a $66.00 target price (up previously from $62.00) on shares of Eversource Energy in a research report on Thursday, June 1st. Morgan Stanley upped their target price on Eversource Energy from $63.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 6th. Finally, Deutsche Bank AG lowered Eversource Energy from a “buy” rating to a “hold” rating and upped their target price for the company from $61.00 to $61.50 in a research report on Monday, July 31st. Eight equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $62.95.

In related news, VP Werner J. Schweiger sold 36,736 shares of Eversource Energy stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $62.00, for a total value of $2,277,632.00. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.53% of the stock is owned by insiders.

Eversource Energy Company Profile

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.

Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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