Schnieders Capital Management LLC Purchases 22,775 Shares of Eversource Energy (NYSE:ES)

Key Points

• Schnieders Capital Management LLC significantly increased its holdings in Eversource Energy by 273.2% during the first quarter, owning a total of 31,112 shares valued at approximately $1.93 million.
• Several hedge funds have also increased their positions in Eversource Energy, with 79.99% of the stock currently held by institutional investors and hedge funds.
• Analysts have mixed views on Eversource Energy, with a range of price targets; Bank of America upgraded its target from $62.00 to $67.00, while JPMorgan Chase downgraded its rating to "underweight" with a target of $58.00.

Schnieders Capital Management LLC increased its stake in Eversource Energy (NYSE:ES - Free Report) by 273.2% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 31,112 shares of the utilities provider's stock after purchasing an additional 22,775 shares during the quarter. Schnieders Capital Management LLC's holdings in Eversource Energy were worth $1,932,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Ballentine Partners LLC boosted its position in shares of Eversource Energy by 4.9% in the first quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider's stock worth $369,000 after acquiring an additional 277 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Eversource Energy by 105.6% during the first quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider's stock worth $287,000 after purchasing an additional 2,374 shares in the last quarter. LSV Asset Management bought a new stake in shares of Eversource Energy in the fourth quarter worth $2,223,000. Golden State Wealth Management LLC increased its stake in shares of Eversource Energy by 233.9% in the first quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider's stock worth $52,000 after buying an additional 580 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. boosted its holdings in Eversource Energy by 14.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,402 shares of the utilities provider's stock worth $4,124,000 after purchasing an additional 8,616 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ES shares. BMO Capital Markets lifted their price objective on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. Bank of America boosted 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. Mizuho boosted 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. Finally, Wall Street Zen upgraded 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 assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, Eversource Energy has an average rating of "Hold" and an average target price of $65.56.

Eversource Energy Stock Down 1.3%

Shares of NYSE ES traded down $0.89 during mid-day trading on Friday, reaching $65.04. 2,162,470 shares of the company's stock were exchanged, compared to its average volume of 2,058,390. The firm has a market capitalization of $24.14 billion, a price-to-earnings ratio of 27.91, a PEG ratio of 2.46 and a beta of 0.61. The company has a current ratio of 0.71, a quick ratio of 0.66 and a debt-to-equity ratio of 1.67. The business has a fifty day simple moving average of $64.95 and a 200 day simple moving average of $61.89. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $69.01.

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 analysts' consensus estimates of $0.95 by $0.01. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%. 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 firm earned $0.95 EPS. Eversource Energy's revenue for the quarter was up 12.0% compared to the same quarter last year. As a group, equities analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy stock in a transaction that occurred 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 completion of the transaction, the executive vice president directly owned 10,988 shares in the company, valued at approximately $703,232. The trade was a 19.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by corporate insiders.

Eversource Energy Company 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.