LGT Group Foundation Acquires New Position in Eversource Energy (NYSE:ES)

LGT Group Foundation acquired a new stake in shares of Eversource Energy (NYSE:ES) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 3,585 shares of the utilities provider’s stock, valued at approximately $203,000.

Several other institutional investors also recently bought and sold shares of ES. Salem Investment Counselors Inc. boosted its holdings in shares of Eversource Energy by 49.7% during the 1st quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 181 shares during the last quarter. Addison Advisors LLC boosted its holdings in shares of Eversource Energy by 27.4% during the 2nd quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock valued at $49,000 after acquiring an additional 185 shares during the last quarter. Bar Harbor Wealth Management boosted its holdings in shares of Eversource Energy by 4.1% during the 2nd quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock valued at $271,000 after acquiring an additional 190 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Eversource Energy by 2.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock valued at $475,000 after acquiring an additional 192 shares during the last quarter. Finally, Presima Securities ULC boosted its holdings in shares of Eversource Energy by 1.5% during the 4th quarter. Presima Securities ULC now owns 13,730 shares of the utilities provider’s stock valued at $847,000 after acquiring an additional 200 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ES has been the topic of a number of recent analyst reports. Bank of America raised their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday, August 29th. Morgan Stanley raised their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. BMO Capital Markets dropped their price objective on shares of Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a report on Monday, August 19th. Scotiabank raised 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. Finally, Wells Fargo & Company raised their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $68.93.

Eversource Energy Price Performance

NYSE ES opened at $68.00 on Wednesday. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $69.01. The stock has a market cap of $24.30 billion, a price-to-earnings ratio of -57.63, a PEG ratio of 2.58 and a beta of 0.61. The company’s 50 day moving average is $64.10 and its two-hundred day moving average is $60.84. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74.

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

Insider Activity

In other news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction 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 transaction, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction on Friday, August 9th. The shares were 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 of the company’s stock, valued at $639,464.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

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.