Candriam S.C.A. Boosts Holdings in Eversource Energy (NYSE:ES)

Candriam S.C.A. boosted its holdings in shares of Eversource Energy (NYSE:ES) by 14.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 64,848 shares of the utilities provider’s stock after acquiring an additional 8,229 shares during the period. Candriam S.C.A.’s holdings in Eversource Energy were worth $3,677,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Heritage Wealth Advisors acquired a new stake in shares of Eversource Energy during the fourth quarter valued at $25,000. Lynx Investment Advisory acquired a new stake in shares of Eversource Energy during the 2nd quarter worth about $25,000. Rise Advisors LLC acquired a new stake in shares of Eversource Energy during the 1st quarter worth about $27,000. Versant Capital Management Inc raised its position in shares of Eversource Energy by 62.6% in the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after buying an additional 201 shares during the last quarter. Finally, Salem Investment Counselors Inc. raised its position in shares of Eversource Energy by 49.7% in the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after buying an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have commented on ES shares. Barclays lifted their target price on shares of Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. BMO Capital Markets dropped their target price on Eversource Energy from $73.00 to $70.00 and set a “market perform” rating for the company in a research note on Monday, August 19th. Morgan Stanley raised their price target on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Wells Fargo & Company lifted their price target on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. Finally, Scotiabank increased their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $68.93.

Eversource Energy Stock Performance

Shares of ES stock opened at $68.06 on Tuesday. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The company has a market cap of $24.32 billion, a PE ratio of -57.68, a P/E/G ratio of 2.58 and a beta of 0.61. The company’s fifty day simple moving average is $63.87 and its 200-day simple moving average is $60.78. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $69.01.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting the consensus estimate of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same period last year, the company posted $1.00 earnings per share. The firm’s revenue was down 3.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Eversource Energy will post 4.56 EPS for the current year.

Insider Buying and Selling

In other news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares in the company, valued at $591,596. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the transaction, the executive vice president now owns 9,847 shares in the company, valued at $639,464.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares of the company’s stock, valued at approximately $591,596. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Eversource Energy 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.