LPL Financial LLC Acquires 110,185 Shares of Eversource Energy (NYSE:ES)

LPL Financial LLC grew its stake in Eversource Energy (NYSE:ES - Free Report) by 42.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 367,079 shares of the utilities provider's stock after acquiring an additional 110,185 shares during the quarter. LPL Financial LLC owned 0.10% of Eversource Energy worth $22,799,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Inspire Advisors LLC acquired a new stake in Eversource Energy during the 1st quarter worth $2,675,000. Empirical Finance LLC increased its holdings in shares of Eversource Energy by 3.8% in the first quarter. Empirical Finance LLC now owns 12,339 shares of the utilities provider's stock worth $766,000 after acquiring an additional 450 shares in the last quarter. HB Wealth Management LLC raised its position in shares of Eversource Energy by 9.5% during the first quarter. HB Wealth Management LLC now owns 12,416 shares of the utilities provider's stock worth $771,000 after purchasing an additional 1,079 shares during the period. Wilkins Investment Counsel Inc. lifted its holdings in shares of Eversource Energy by 15.8% during the 1st quarter. Wilkins Investment Counsel Inc. now owns 12,595 shares of the utilities provider's stock valued at $782,000 after purchasing an additional 1,720 shares in the last quarter. Finally, Navellier & Associates Inc. bought a new position in shares of Eversource Energy during the 1st quarter valued at about $672,000. 79.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ES has been the subject of a number of research reports. BMO Capital Markets increased 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. Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. 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. Mizuho upped their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Finally, JPMorgan Chase & Co. reiterated an "underweight" rating and set a $58.00 target price (down previously from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Three research 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.com, the stock presently has a consensus rating of "Hold" and an average price target of $65.56.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,600 shares of the stock in a transaction that occurred 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 owned 10,988 shares in the company, valued at approximately $703,232. This trade represents a 19.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.41% of the company's stock.

Eversource Energy Stock Performance

Shares of NYSE ES traded down $1.03 during trading hours on Friday, reaching $64.90. 552,333 shares of the stock were exchanged, compared to its average volume of 2,709,683. The firm has a market capitalization of $24.09 billion, a price-to-earnings ratio of 27.86, a P/E/G ratio of 2.45 and a beta of 0.61. The stock's fifty day simple moving average is $64.94 and its 200 day simple moving average is $61.84. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.66 and a current ratio of 0.71. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last released its 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 return on equity of 11.00% and a net margin of 6.60%. The company 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 EPS. Eversource Energy's quarterly revenue was up 12.0% on a year-over-year basis. Sell-side analysts predict that Eversource Energy will post 4.75 EPS 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.