Eversource Energy (ES) Position Reduced by NGAM Advisors L.P.
NGAM Advisors L.P. cut its stake in shares of Eversource Energy (NYSE:ES) by 5.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,654 shares of the utilities provider’s stock after selling 1,384 shares during the period. NGAM Advisors L.P.’s holdings in Eversource Energy were worth $1,375,000 at the end of the most recent reporting period.
A number of other institutional investors also recently made changes to their positions in the stock. Private Bank & Trust Co. increased its stake in Eversource Energy by 0.3% in the second quarter. Private Bank & Trust Co. now owns 4,167 shares of the utilities provider’s stock valued at $253,000 after buying an additional 13 shares during the last quarter. Cleararc Capital Inc. increased its stake in Eversource Energy by 0.4% in the first quarter. Cleararc Capital Inc. now owns 7,743 shares of the utilities provider’s stock valued at $455,000 after buying an additional 31 shares during the last quarter. Barry Investment Advisors LLC increased its stake in Eversource Energy by 0.8% in the first quarter. Barry Investment Advisors LLC now owns 6,220 shares of the utilities provider’s stock valued at $366,000 after buying an additional 49 shares during the last quarter. TNB Financial increased its stake in Eversource Energy by 0.9% in the second quarter. TNB Financial now owns 8,261 shares of the utilities provider’s stock valued at $502,000 after buying an additional 74 shares during the last quarter. Finally, Tower Bridge Advisors increased its stake in Eversource Energy by 1.9% in the first quarter. Tower Bridge Advisors now owns 4,081 shares of the utilities provider’s stock valued at $240,000 after buying an additional 75 shares during the last quarter. Institutional investors own 71.31% of the company’s stock.
Shares of Eversource Energy (NYSE:ES) opened at 62.57 on Wednesday. Eversource Energy has a one year low of $50.56 and a one year high of $63.34. The company’s 50 day moving average price is $60.96 and its 200 day moving average price is $59.79. The firm has a market capitalization of $19.83 billion, a P/E ratio of 20.25 and a beta of 0.28.
Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Thursday, July 27th. The utilities provider reported $0.72 EPS for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. The firm had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.91 billion. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The firm’s revenue was down .2% on a year-over-year basis. During the same period in the prior year, the business earned $0.64 EPS. On average, analysts expect that Eversource Energy will post $3.15 EPS for the current fiscal year.
WARNING: This piece was first published by Watch List News and is the property of of Watch List News. If you are reading this piece on another domain, it was copied illegally and reposted in violation of United States & international copyright and trademark laws. The legal version of this piece can be accessed at https://www.watchlistnews.com/eversource-energy-es-position-reduced-by-ngam-advisors-l-p/1493051.html.
Several research firms have recently weighed in on ES. Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Wednesday, June 21st. Barclays PLC reissued an “equal weight” rating and issued a $66.00 price objective (up from $62.00) on shares of Eversource Energy in a report on Thursday, June 1st. Morgan Stanley increased their price objective on Eversource Energy from $63.00 to $64.00 and gave the company an “equal weight” rating in a report on Tuesday, June 6th. Credit Suisse Group reissued a “hold” rating and issued a $59.00 price objective on shares of Eversource Energy in a report on Tuesday, June 6th. Finally, Deutsche Bank AG downgraded Eversource Energy from a “buy” rating to a “hold” rating and increased their price objective for the company from $61.00 to $61.50 in a report on Monday, July 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $62.95.
In related news, VP Werner J. Schweiger sold 36,736 shares of the company’s stock in a transaction on Wednesday, May 31st. The stock was sold at an average price of $62.00, for a total transaction of $2,277,632.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.53% of the stock is owned by corporate insiders.
About Eversource Energy
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
Want to see what other hedge funds are holding ES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eversource Energy (NYSE:ES).
Receive News & Ratings for Eversource Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eversource Energy and related companies with Analyst Ratings Network's FREE daily email newsletter.