National Pension Service Buys 69,541 Shares of Eversource Energy (NYSE:ES)

National Pension Service raised its stake in Eversource Energy (NYSE:ES) by 19.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 430,077 shares of the utilities provider’s stock after acquiring an additional 69,541 shares during the period. National Pension Service’s holdings in Eversource Energy were worth $32,583,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Paragon Capital Management LLC raised its stake in Eversource Energy by 478.9% during the 2nd quarter. Paragon Capital Management LLC now owns 330 shares of the utilities provider’s stock worth $25,000 after buying an additional 273 shares during the period. Krane Funds Advisors LLC purchased a new stake in shares of Eversource Energy in the second quarter worth $25,000. Centersquare Investment Management LLC raised its position in shares of Eversource Energy by 368,643.4% in the first quarter. Centersquare Investment Management LLC now owns 3,576,811 shares of the utilities provider’s stock worth $28,000 after buying an additional 3,575,841 shares in the last quarter. Bremer Bank National Association purchased a new stake in shares of Eversource Energy in the first quarter worth $28,000. Finally, Kavar Capital Partners LLC purchased a new stake in shares of Eversource Energy in the second quarter worth $30,000. Hedge funds and other institutional investors own 78.46% of the company’s stock.

A number of equities research analysts recently issued reports on the company. Wells Fargo & Co increased their price objective on Eversource Energy from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Barclays raised their target price on Eversource Energy from $71.00 to $79.00 and gave the stock an “equal weight” rating in a research note on Tuesday, June 18th. Morgan Stanley cut their target price on Eversource Energy from $78.00 to $77.00 and set an “equal weight” rating on the stock in a research note on Friday, August 16th. Guggenheim raised Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $76.00 to $88.00 in a research note on Wednesday, September 4th. Finally, Zacks Investment Research raised Eversource Energy from a “sell” rating to a “hold” rating and set a $82.00 target price on the stock in a research note on Monday, June 17th. Two research analysts have rated the stock with a sell rating, four have given a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus price target of $78.17.

Shares of ES stock traded down $0.14 during trading hours on Thursday, hitting $83.23. 78,796 shares of the company’s stock traded hands, compared to its average volume of 1,533,814. The stock’s fifty day simple moving average is $79.67 and its two-hundred day simple moving average is $74.97. Eversource Energy has a 12-month low of $60.15 and a 12-month high of $83.61. The stock has a market cap of $26.68 billion, a price-to-earnings ratio of 25.36, a PEG ratio of 4.26 and a beta of 0.20. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 1.09.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.74 earnings per share for the quarter, topping analysts’ consensus estimates of $0.73 by $0.01. Eversource Energy had a net margin of 10.00% and a return on equity of 9.24%. The company had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period in the previous year, the business earned $0.76 EPS. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. On average, equities analysts forecast that Eversource Energy will post 3.43 earnings per share for the current fiscal year.

The company also recently disclosed a — dividend, which will be paid on Monday, September 30th. Investors of record on Friday, September 20th will be issued a $0.535 dividend. The ex-dividend date of this dividend is Thursday, September 19th. This represents a yield of 2.6%. Eversource Energy’s payout ratio is currently 65.24%.

In related news, VP Gregory B. Butler sold 8,298 shares of the business’s stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $77.30, for a total value of $641,435.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Philip J. Lembo sold 1,256 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $79.61, for a total transaction of $99,990.16. The disclosure for this sale can be found here. 0.37% of the stock is owned by insiders.

About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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