Vanguard Group Inc. Purchases 351,780 Shares of Eversource Energy (NYSE:ES)

Key Points

• Vanguard Group Inc. increased its stake in Eversource Energy by 0.8%, acquiring an additional 351,780 shares, bringing its total ownership to 44,961,496 shares valued at approximately $2.79 billion.
• Eversource Energy reported a quarterly earnings per share of $0.96, slightly exceeding analysts' expectations, with revenue reaching $2.84 billion, which was below consensus estimates.
• Institutional investors now own 79.99% of Eversource Energy's stock, indicating strong interest from large investment firms.

Vanguard Group Inc. boosted its position in shares of Eversource Energy (NYSE:ES - Free Report) by 0.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 44,961,496 shares of the utilities provider's stock after acquiring an additional 351,780 shares during the quarter. Vanguard Group Inc. owned 12.24% of Eversource Energy worth $2,792,559,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vest Financial LLC acquired a new position in shares of Eversource Energy in the first quarter valued at $60,273,000. Hsbc Holdings PLC increased its holdings in shares of Eversource Energy by 31.1% in the fourth quarter. Hsbc Holdings PLC now owns 2,719,720 shares of the utilities provider's stock valued at $155,981,000 after purchasing an additional 645,257 shares during the last quarter. Northern Trust Corp increased its holdings in shares of Eversource Energy by 18.0% in the fourth quarter. Northern Trust Corp now owns 3,699,583 shares of the utilities provider's stock valued at $212,467,000 after purchasing an additional 564,409 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Eversource Energy by 11.3% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,269 shares of the utilities provider's stock valued at $316,857,000 after purchasing an additional 561,055 shares during the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Eversource Energy by 7,616.9% in the first quarter. GAMMA Investing LLC now owns 424,273 shares of the utilities provider's stock valued at $26,352,000 after purchasing an additional 418,775 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

Eversource Energy Stock Performance

NYSE:ES opened at $65.04 on Friday. The company has a market capitalization of $24.14 billion, a PE ratio of 27.91, a P/E/G ratio of 2.46 and a beta of 0.61. The company has a 50 day simple moving average of $64.95 and a two-hundred day simple moving average of $61.89. 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 fifty-two week low of $52.28 and a fifty-two 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 for the quarter, beating analysts' consensus estimates of $0.95 by $0.01. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 EPS. Research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Insider Buying and Selling at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy stock in a transaction 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 sale, 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 can be accessed through the SEC website. 0.41% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

ES has been the topic of several research reports. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Mizuho upped their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Bank of America upped their price target on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, BMO Capital Markets upped their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $65.56.

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.

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