Park Avenue Securities LLC Invests $273,000 in Eversource Energy (ES) Stock

Park Avenue Securities LLC bought a new stake in Eversource Energy (NYSE:ES) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 4,518 shares of the utilities provider’s stock, valued at approximately $273,000.

A number of other large investors have also recently modified their holdings of ES. Advisory Services Network LLC boosted its holdings in shares of Eversource Energy by 1.7% in the second quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock valued at $118,000 after buying an additional 32 shares during the period. Risk Paradigm Group LLC boosted its holdings in shares of Eversource Energy by 111.7% in the third quarter. Risk Paradigm Group LLC now owns 2,117 shares of the utilities provider’s stock valued at $128,000 after buying an additional 1,117 shares during the period. Sun Life Financial INC boosted its holdings in shares of Eversource Energy by 23,040.0% in the second quarter. Sun Life Financial INC now owns 2,314 shares of the utilities provider’s stock valued at $140,000 after buying an additional 2,304 shares during the period. WFG Advisors LP boosted its holdings in shares of Eversource Energy by 127.8% in the second quarter. WFG Advisors LP now owns 2,460 shares of the utilities provider’s stock valued at $149,000 after buying an additional 1,380 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its holdings in shares of Eversource Energy by 63.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,270 shares of the utilities provider’s stock valued at $199,000 after buying an additional 1,265 shares during the period. 72.33% of the stock is owned by hedge funds and other institutional investors.

In related news, COO Werner J. Schweiger sold 10,098 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $64.68, for a total transaction of $653,138.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.53% of the company’s stock.

Shares of Eversource Energy (NYSE:ES) traded down $0.12 on Thursday, reaching $63.81. 1,466,000 shares of the company traded hands, compared to its average volume of 1,413,533. Eversource Energy has a fifty-two week low of $50.56 and a fifty-two week high of $66.15. The firm has a market capitalization of $20,258.51, a PE ratio of 20.76, a price-to-earnings-growth ratio of 3.42 and a beta of 0.31. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, November 1st. The utilities provider reported $0.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). Eversource Energy had a return on equity of 9.03% and a net margin of 12.84%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $2.06 billion. During the same quarter in the previous year, the company posted $0.83 EPS. The business’s revenue for the quarter was down 2.5% compared to the same quarter last year. equities research analysts predict that Eversource Energy will post 3.15 EPS for the current year.

ES has been the subject of several research analyst reports. Zacks Investment Research cut shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Janney Montgomery Scott set a $71.00 price target on shares of Eversource Energy and gave the company a “buy” rating in a report on Monday, July 31st. Deutsche Bank AG cut shares of Eversource Energy from a “buy” rating to a “hold” rating and upped their price target for the company from $61.00 to $61.50 in a report on Monday, July 31st. Morgan Stanley increased their target price on shares of Eversource Energy from $64.00 to $68.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. Finally, Bank of America Corporation assumed coverage on shares of Eversource Energy in a report on Tuesday, October 24th. They set an “underperform” rating and a $62.00 target price for the company. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $64.06.

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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.

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

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