Howard Capital Management Inc. Takes Position in Eversource Energy (NYSE:ES)

Key Points

• Howard Capital Management Inc. has invested approximately $486,000 in Eversource Energy, acquiring 7,830 shares.
• Institutional investors collectively own about 79.99% of Eversource Energy's stock, demonstrating strong institutional interest.
• Analysts have varying views on the stock, with price targets ranging from $58.00 to $72.00, while the consensus rating is currently a "Hold."

Howard Capital Management Inc. purchased a new stake in shares of Eversource Energy (NYSE:ES - Free Report) in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 7,830 shares of the utilities provider's stock, valued at approximately $486,000.

Other large investors have also made changes to their positions in the company. Vest Financial LLC bought a new stake in Eversource Energy in the first quarter worth $60,273,000. Magellan Asset Management Ltd raised its holdings in shares of Eversource Energy by 15.9% in the fourth quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider's stock valued at $371,829,000 after acquiring an additional 890,514 shares in the last quarter. Invesco Ltd. grew its stake in Eversource Energy by 16.5% in 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 last quarter. Hsbc Holdings PLC grew its stake in Eversource Energy by 31.1% in 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 last quarter. Finally, Northern Trust Corp grew its stake in Eversource Energy by 18.0% in 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 last quarter. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Price Performance

Shares of ES traded down $0.60 on Friday, hitting $65.50. The company's stock had a trading volume of 2,841,173 shares, compared to its average volume of 1,925,586. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.75 and a quick ratio of 0.66. The company has a 50 day moving average price of $64.78 and a 200 day moving average price of $61.65. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01. The company has a market capitalization of $24.06 billion, a PE ratio of 28.11, a PEG ratio of 2.45 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.10%. The company's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the business posted $0.95 EPS. On average, research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of brokerages recently commented on ES. Bank of America upped their target price on Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. BMO Capital Markets upped their target price on Eversource Energy from $71.00 to $72.00 and gave the stock 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 from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Finally, Mizuho upped their target price on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $65.56.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,600 shares of the business's stock in a transaction 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 transaction, the executive vice president owned 10,988 shares in the company, valued at $703,232. The trade was a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.41% of the company's stock.

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.