Stevens Capital Management LP Grows Position in Eversource Energy (ES)

Stevens Capital Management LP increased its stake in Eversource Energy (NYSE:ES) by 27.2% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 82,549 shares of the utilities provider’s stock after buying an additional 17,676 shares during the period. Stevens Capital Management LP’s holdings in Eversource Energy were worth $5,072,000 at the end of the most recent reporting period.

Other hedge funds also recently added to or reduced their stakes in the company. Cornerstone Wealth Management LLC purchased a new stake in Eversource Energy in the second quarter worth about $1,218,000. Janney Montgomery Scott LLC grew its holdings in Eversource Energy by 3.5% in the second quarter. Janney Montgomery Scott LLC now owns 43,756 shares of the utilities provider’s stock worth $2,565,000 after purchasing an additional 1,476 shares during the period. Piedmont Investment Advisors LLC purchased a new stake in Eversource Energy in the second quarter worth about $218,000. Massachusetts Financial Services Co. MA grew its holdings in Eversource Energy by 3.3% in the second quarter. Massachusetts Financial Services Co. MA now owns 1,983,663 shares of the utilities provider’s stock worth $116,262,000 after purchasing an additional 64,064 shares during the period. Finally, Virtu Financial LLC purchased a new stake in Eversource Energy in the second quarter worth about $235,000. 74.74% of the stock is owned by institutional investors.

A number of equities research analysts have weighed in on ES shares. Morgan Stanley upped their price objective on shares of Eversource Energy from $63.00 to $67.00 and gave the stock a “hold” rating in a report on Tuesday, September 11th. ValuEngine upgraded shares of Eversource Energy from a “hold” rating to a “buy” rating in a report on Wednesday, October 24th. Wells Fargo & Co increased their price target on shares of Eversource Energy from $67.00 to $71.00 and gave the company an “outperform” rating in a report on Monday, September 17th. Citigroup increased their price target on shares of Eversource Energy from $59.00 to $63.00 and gave the company a “hold” rating in a report on Tuesday, September 25th. Finally, Barclays assumed coverage on shares of Eversource Energy in a report on Monday, October 22nd. They set a “hold” rating and a $64.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. Eversource Energy has an average rating of “Buy” and a consensus price target of $64.73.

NYSE:ES opened at $68.34 on Friday. Eversource Energy has a 52 week low of $52.76 and a 52 week high of $68.39. The company has a debt-to-equity ratio of 1.07, a quick ratio of 0.54 and a current ratio of 0.59. The company has a market cap of $21.25 billion, a PE ratio of 21.97, a PEG ratio of 3.48 and a beta of 0.16.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Thursday, November 1st. The utilities provider reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.90 by $0.03. Eversource Energy had a net margin of 12.51% and a return on equity of 9.32%. The firm had revenue of $2.27 billion for the quarter, compared to analysts’ expectations of $2.06 billion. During the same quarter in the prior year, the company posted $0.82 earnings per share. The business’s revenue for the quarter was up 14.2% on a year-over-year basis. As a group, equities analysts predict that Eversource Energy will post 3.27 earnings per share for the current fiscal year.

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Eversource Energy Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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

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