Maryland State Retirement & Pension System Raises Stock Holdings in Eversource Energy (NYSE:ES)

Key Points

• The Maryland State Retirement & Pension System increased its holdings in Eversource Energy by 1.9%, owning 327,788 shares worth approximately $20.36 million as of its latest filing.
• Several large institutional investors, including Envestnet Asset Management and FMR LLC, have significantly increased their positions in Eversource Energy during the fourth quarter.
• Eversource Energy reported earnings of $0.96 per share for the most recent quarter, which slightly surpassed estimates, while revenue for the quarter was $2.84 billion, falling short of expectations.

Maryland State Retirement & Pension System increased its position in shares of Eversource Energy (NYSE:ES - Free Report) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 327,788 shares of the utilities provider's stock after purchasing an additional 6,114 shares during the period. Maryland State Retirement & Pension System owned 0.09% of Eversource Energy worth $20,359,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of ES. Pinney & Scofield Inc. purchased a new position in shares of Eversource Energy in the 4th quarter valued at $33,000. Rossby Financial LCC bought a new stake in shares of Eversource Energy during the 1st quarter worth about $34,000. CoreCap Advisors LLC raised its holdings in shares of Eversource Energy by 168.7% in the 4th quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock worth $35,000 after purchasing an additional 383 shares in the last quarter. First Financial Corp IN raised its holdings in shares of Eversource Energy by 3,529.4% in the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock worth $38,000 after purchasing an additional 600 shares in the last quarter. Finally, Golden State Wealth Management LLC raised its holdings in shares of Eversource Energy by 233.9% in the 1st quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider's stock worth $52,000 after purchasing an additional 580 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Eversource Energy Trading Up 0.5%

ES stock traded up $0.33 during trading on Monday, hitting $65.37. The company had a trading volume of 626,445 shares, compared to its average volume of 2,706,543. The stock has a market cap of $24.26 billion, a PE ratio of 28.05, a PEG ratio of 2.43 and a beta of 0.61. Eversource Energy has a one year low of $52.28 and a one year high of $69.01. The business has a 50-day moving average of $64.95 and a 200-day moving average of $61.97. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period last year, the firm posted $0.95 EPS. The business's revenue was up 12.0% compared to the same quarter last year. Research analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Insider Buying and Selling at Eversource Energy

In other news, EVP Penelope M. Conner sold 2,600 shares of the company's stock in a transaction on Tuesday, May 20th. The stock was 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 represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ES. BMO Capital Markets boosted 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 boosted their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Bank of America boosted their price target 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. Finally, Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Eversource Energy 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.