Ethic Inc. Purchases 14,641 Shares of Eversource Energy (NYSE:ES)

Key Points

• Ethic Inc. increased its stake in Eversource Energy by 8.9%, acquiring an additional 14,641 shares, raising its total holdings to 179,552 shares valued at approximately $11.15 million.
• Several institutional investors have boosted their positions, with Vanguard Group Inc. owning nearly 45 million shares and other firms like Magellan Asset Management and Invesco Ltd. also increasing their stakes.
• Eversource Energy reported a quarterly earnings per share of $0.96, exceeding analysts' expectations, although revenue was below estimates at $2.84 billion compared to a forecast of $3.01 billion.

Ethic Inc. lifted its position in Eversource Energy (NYSE:ES - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 179,552 shares of the utilities provider's stock after purchasing an additional 14,641 shares during the quarter. Ethic Inc.'s holdings in Eversource Energy were worth $11,148,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in Eversource Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider's stock valued at $2,792,559,000 after acquiring an additional 351,780 shares during the last quarter. Magellan Asset Management Ltd boosted its position in Eversource Energy by 6.2% during the first quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider's stock valued at $427,090,000 after buying an additional 401,866 shares during the period. Invesco Ltd. boosted its position in Eversource Energy by 0.5% during the first quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider's stock valued at $374,920,000 after buying an additional 32,304 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in shares of 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 worth $316,857,000 after purchasing an additional 561,055 shares during the period. Finally, Nuveen LLC purchased a new stake in shares of Eversource Energy during the first quarter worth about $286,130,000. Institutional investors own 79.99% of the company's stock.

Eversource Energy Price Performance

Shares of ES opened at $65.55 on Friday. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $69.01. The company has a market capitalization of $24.33 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 2.49 and a beta of 0.61. The firm has a 50 day moving average of $65.01 and a 200 day moving average of $62.14. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67.

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

Insiders Place Their Bets

In related news, EVP Penelope M. Conner sold 2,600 shares of the business's stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total value of $166,400.00. Following the completion of the transaction, the executive vice president directly owned 10,988 shares in the company, valued at $703,232. The trade was a 19.13% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

About Eversource Energy

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.