Zurcher Kantonalbank Zurich Cantonalbank decreased its stake in Eversource Energy (NYSE:ES - Free Report) by 18.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 294,747 shares of the utilities provider's stock after selling 68,403 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned 0.08% of Eversource Energy worth $18,307,000 at the end of the most recent reporting period.
Several other hedge funds have also made changes to their positions in ES. JPMorgan Chase & Co. lifted its holdings in shares of Eversource Energy by 10.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,569,671 shares of the utilities provider's stock worth $90,146,000 after purchasing an additional 151,562 shares during the last quarter. Orion Portfolio Solutions LLC bought a new stake in Eversource Energy during the 4th quarter valued at $246,000. Allstate Corp bought a new stake in Eversource Energy during the 4th quarter valued at $628,000. California Public Employees Retirement System raised its stake in Eversource Energy by 1.6% during the 4th quarter. California Public Employees Retirement System now owns 1,645,702 shares of the utilities provider's stock valued at $94,513,000 after acquiring an additional 25,122 shares in the last quarter. Finally, Wellington Management Group LLP raised its stake in Eversource Energy by 38.6% during the 4th quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock valued at $945,893,000 after acquiring an additional 4,585,232 shares in the last quarter. Institutional investors own 79.99% of the company's stock.
Eversource Energy Price Performance
Shares of ES stock traded down $0.60 during mid-day trading on Friday, hitting $65.50. 2,841,173 shares of the stock traded hands, compared to its average volume of 2,749,240. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $69.01. The firm has a market cap of $24.06 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 2.47 and a beta of 0.62. The company's 50-day simple moving average is $64.74 and its 200-day simple moving average is $61.55. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.66 and a current ratio of 0.75.
Eversource Energy (NYSE:ES - Get Free Report) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. The business had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $3.01 billion. Eversource Energy had a return on equity of 11.04% and a net margin of 6.63%. The company's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 EPS. As a group, equities research analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.
Analyst Ratings Changes
Several analysts have weighed in on the company. BMO Capital Markets lifted their target price on Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $58.00 target price (down previously from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Bank of America lifted their target price on Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Finally, Mizuho lifted their target price on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Three 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. Based on data from MarketBeat, the company presently has an average rating of "Hold" and an average price target of $65.56.
Check Out Our Latest Stock Analysis on ES
Insider Activity
In related news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy stock in a transaction on Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value of $166,400.00. Following 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 SEC, which is available through this link. 0.41% of the stock is owned by insiders.
About Eversource Energy
(
Free Report)
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.
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