Swiss National Bank Acquires 23,800 Shares of Eversource Energy (NYSE:ES)

Key Points

• The Swiss National Bank increased its holdings in Eversource Energy by 2.4%, acquiring an additional 23,800 shares during the first quarter, bringing its total ownership to 1,033,333 shares valued at approximately $64.18 million.
• In the first quarter, several other institutional investors also increased their stakes in Eversource Energy, resulting in institutional ownership reaching 79.99% of the company's stock.
• Eversource Energy's recent earnings report showed an EPS of $0.96, exceeding analysts' expectations, while the company's revenue for the quarter increased by 12.0% compared to the previous year.

Swiss National Bank increased its position in Eversource Energy (NYSE:ES - Free Report) by 2.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,033,333 shares of the utilities provider's stock after purchasing an additional 23,800 shares during the period. Swiss National Bank owned 0.28% of Eversource Energy worth $64,180,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in ES. Ballentine Partners LLC grew its position in shares of Eversource Energy by 4.9% during the first quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider's stock worth $369,000 after purchasing an additional 277 shares in the last quarter. Farther Finance Advisors LLC raised its position in Eversource Energy by 105.6% during the 1st quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider's stock valued at $287,000 after purchasing an additional 2,374 shares in the last quarter. LSV Asset Management bought a new stake in Eversource Energy during the 4th quarter valued at $2,223,000. Golden State Wealth Management LLC increased 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 valued at $52,000 after acquiring an additional 580 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Eversource Energy by 14.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 66,402 shares of the utilities provider's stock valued at $4,124,000 after acquiring an additional 8,616 shares during the period. 79.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

ES has been the topic of several research analyst reports. Mizuho boosted their price target on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. BMO Capital Markets boosted their price objective 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. Bank of America boosted their price objective on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, Wall Street Zen upgraded Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $65.56.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the company's stock in a transaction dated 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 directly owned 10,988 shares of the company's stock, valued at $703,232. This represents a 19.13% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.41% of the stock is currently owned by insiders.

Eversource Energy Price Performance

Shares of ES stock traded down $0.75 during midday trading on Thursday, reaching $65.55. 1,630,171 shares of the company traded hands, compared to its average volume of 2,693,236. The firm's 50 day simple moving average is $65.00 and its two-hundred day simple moving average is $62.09. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $69.01. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. The firm has a market cap of $24.33 billion, a PE ratio of 28.13, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The firm had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same period in the previous year, the company earned $0.95 EPS. Eversource Energy's revenue for the quarter was up 12.0% on a year-over-year basis. On average, equities research analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

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.