Raiffeisen Bank International AG Has $4.84 Million Position in Eversource Energy (NYSE:ES)

Key Points

• Raiffeisen Bank International AG increased its holdings in Eversource Energy by 38.6% in the first quarter, now owning 79,114 shares valued at approximately $4.84 million.
• Several institutional investors, including Heritage Trust Co and TIAA Trust National Association, have also grown their stakes in Eversource Energy, indicating strong interest in the utilities provider.
• Analysts have mixed opinions on Eversource Energy, with target prices ranging from $58.00 to $72.00, while the stock currently holds an average rating of "Hold."

Raiffeisen Bank International AG boosted its position in Eversource Energy (NYSE:ES - Free Report) by 38.6% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 79,114 shares of the utilities provider's stock after purchasing an additional 22,047 shares during the period. Raiffeisen Bank International AG's holdings in Eversource Energy were worth $4,835,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Orion Portfolio Solutions LLC purchased a new stake in Eversource Energy in the 4th quarter valued at approximately $246,000. Headlands Technologies LLC acquired a new position in Eversource Energy in the 4th quarter valued at $134,000. World Investment Advisors raised its holdings in Eversource Energy by 6.8% in the 4th quarter. World Investment Advisors now owns 4,356 shares of the utilities provider's stock valued at $250,000 after acquiring an additional 279 shares during the last quarter. ExodusPoint Capital Management LP raised its holdings in Eversource Energy by 166.5% in the 4th quarter. ExodusPoint Capital Management LP now owns 101,228 shares of the utilities provider's stock valued at $5,814,000 after acquiring an additional 63,250 shares during the last quarter. Finally, Pitcairn Co. raised its holdings in Eversource Energy by 65.5% in the 4th quarter. Pitcairn Co. now owns 5,760 shares of the utilities provider's stock valued at $331,000 after acquiring an additional 2,279 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on ES shares. Wall Street Zen upgraded Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Bank of America upped their price target on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. reaffirmed an "underweight" rating and set a $58.00 price target (down from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. BMO Capital Markets upped their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research report on Monday, April 28th. Finally, Mizuho upped their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $65.56.

Insiders Place Their Bets

In related news, EVP Penelope M. Conner sold 2,600 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 10,988 shares of the company's stock, valued at approximately $703,232. This trade represents a 19.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company's stock.

Eversource Energy Price Performance

Shares of NYSE ES traded down $0.41 during mid-day trading on Wednesday, reaching $65.47. 1,850,249 shares of the company traded hands, compared to its average volume of 2,730,573. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01. 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 firm has a market cap of $24.05 billion, a PE ratio of 28.10, a price-to-earnings-growth ratio of 2.48 and a beta of 0.61. The stock has a fifty day simple moving average of $64.86 and a 200-day simple moving average of $61.76.

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. Eversource Energy had a net margin of 6.60% and a return on equity of 11.10%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the business earned $0.95 earnings per share. The business's revenue for the quarter was up 12.0% on a year-over-year basis. Equities research analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

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.