19,356 Shares in Eversource Energy (NYSE:ES) Acquired by Leisure Capital Management

Key Points

• Leisure Capital Management has made a $1.20 million investment by acquiring 19,356 shares of Eversource Energy during the first quarter.
• Institutional investors currently own 79.99% of Eversource Energy's stock, indicating strong support from large financial entities.
• Despite a 12.0% revenue increase year-over-year, Eversource reported earnings per share (EPS) of $0.96, just above analysts' expectations.

Leisure Capital Management purchased a new stake in shares of Eversource Energy (NYSE:ES - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 19,356 shares of the utilities provider's stock, valued at approximately $1,202,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Vest Financial LLC acquired a new stake in Eversource Energy during the 1st quarter worth about $60,273,000. Invesco Ltd. lifted its holdings in shares of Eversource Energy by 16.5% during the fourth quarter. Invesco Ltd. now owns 6,004,089 shares of the utilities provider's stock worth $344,815,000 after purchasing an additional 850,217 shares during the period. Hsbc Holdings PLC boosted its position 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 buying an additional 645,257 shares during the last quarter. Northern Trust Corp boosted its position 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 buying an additional 564,409 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in Eversource Energy by 11.3% in the 4th 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 buying an additional 561,055 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the 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 transaction, the executive vice president directly owned 10,988 shares of the company's stock, valued at $703,232. This trade represents a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.41% of the company's stock.

Eversource Energy Price Performance

Shares of NYSE:ES traded down $0.89 during trading on Friday, reaching $65.04. 2,162,470 shares of the company's stock traded hands, compared to its average volume of 2,058,390. The company has a quick ratio of 0.66, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01. The company has a 50-day simple moving average of $64.95 and a 200-day simple moving average of $61.89. The firm has a market cap of $24.14 billion, a PE ratio of 27.91, a P/E/G ratio of 2.46 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, beating analysts' consensus estimates of $0.95 by $0.01. The business had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%. The business's revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.95 earnings per share. As a group, analysts predict 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.