Empower Advisory Group LLC Has $71.65 Million Holdings in Eversource Energy (NYSE:ES)

Key Points

• Empower Advisory Group LLC increased its stake in Eversource Energy by 4.6%, acquiring an additional 50,806 shares, bringing their total ownership to over 1.15 million shares valued at approximately $71.6 million.
• Analyst ratings for Eversource Energy show a mixed outlook, with upgrades and price target increases, yet the average rating remains a "Hold" with a price target of $65.56.
• In a notable insider transaction, EVP Penelope M. Conner sold 2,600 shares for $166,400, resulting in a 19.13% reduction in her holdings.

Empower Advisory Group LLC lifted its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,153,566 shares of the utilities provider's stock after buying an additional 50,806 shares during the quarter. Empower Advisory Group LLC owned about 0.31% of Eversource Energy worth $71,648,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of ES. FMR LLC grew its holdings in Eversource Energy by 4.8% during the fourth quarter. FMR LLC now owns 7,352,593 shares of the utilities provider's stock valued at $422,259,000 after purchasing an additional 333,529 shares during the period. Invesco Ltd. grew its holdings in Eversource Energy by 16.5% during the fourth quarter. Invesco Ltd. now owns 6,004,089 shares of the utilities provider's stock valued at $344,815,000 after purchasing an additional 850,217 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Eversource Energy by 11.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,269 shares of the utilities provider's stock valued at $316,857,000 after purchasing an additional 561,055 shares during the period. Northern Trust Corp grew its holdings in Eversource Energy by 18.0% during the fourth quarter. Northern Trust Corp now owns 3,699,583 shares of the utilities provider's stock valued at $212,467,000 after purchasing an additional 564,409 shares during the period. Finally, Hsbc Holdings PLC grew its holdings in Eversource Energy by 31.1% during the fourth quarter. Hsbc Holdings PLC now owns 2,719,720 shares of the utilities provider's stock valued at $155,981,000 after purchasing an additional 645,257 shares during the period. Institutional investors and hedge funds own 79.99% of the company's stock.

Insider Transactions at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the sale, the executive vice president directly owned 10,988 shares of the company's stock, valued at approximately $703,232. This represents a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Mizuho boosted their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Bank of America lifted their price target on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. BMO Capital Markets lifted their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. Finally, Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. According to MarketBeat, Eversource Energy has a consensus rating of "Hold" and a consensus price target of $65.56.

Eversource Energy Stock Down 1.3%

Eversource Energy stock traded down $0.89 during mid-day trading on Friday, reaching $65.04. The company's stock had a trading volume of 2,162,470 shares, compared to its average volume of 2,058,390. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.66 and a current ratio of 0.71. The business's 50 day simple moving average is $64.95 and its 200 day simple moving average is $61.89. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $69.01. The company has a market capitalization of $24.14 billion, a price-to-earnings ratio of 27.91, a price-to-earnings-growth ratio of 2.46 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. The company's quarterly revenue was up 12.0% compared to the same quarter last year. As a group, research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Profile

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.