Icon Advisers Inc. Co. Has $3.26 Million Holdings in Eversource Energy (ES)
Icon Advisers Inc. Co. raised its position in Eversource Energy (NYSE:ES) by 16.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,900 shares of the utilities provider’s stock after purchasing an additional 7,700 shares during the quarter. Icon Advisers Inc. Co.’s holdings in Eversource Energy were worth $3,258,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently made changes to their positions in the business. Advisory Services Network LLC increased its stake in shares of Eversource Energy by 1.7% during the second quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock valued at $118,000 after acquiring an additional 32 shares during the period. Sun Life Financial INC increased its stake in shares of Eversource Energy by 23,040.0% during the second quarter. Sun Life Financial INC now owns 2,314 shares of the utilities provider’s stock valued at $140,000 after acquiring an additional 2,304 shares during the period. WFG Advisors LP increased its stake in shares of Eversource Energy by 127.8% during the second quarter. WFG Advisors LP now owns 2,460 shares of the utilities provider’s stock valued at $149,000 after acquiring an additional 1,380 shares during the period. Northwestern Mutual Wealth Management Co. increased its stake in shares of Eversource Energy by 63.1% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,270 shares of the utilities provider’s stock valued at $199,000 after acquiring an additional 1,265 shares during the period. Finally, Teacher Retirement System of Texas acquired a new position in shares of Eversource Energy during the second quarter valued at approximately $200,000. Institutional investors own 72.33% of the company’s stock.
Shares of Eversource Energy (NYSE ES) traded down $0.12 during trading hours on Thursday, reaching $63.81. 1,466,000 shares of the company were exchanged, compared to its average volume of 1,413,533. The company has a market capitalization of $20,258.51, a PE ratio of 20.76, a price-to-earnings-growth ratio of 3.42 and a beta of 0.31. Eversource Energy has a 1 year low of $50.56 and a 1 year high of $66.15. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.95.
Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.82 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.84 by ($0.02). The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.06 billion. Eversource Energy had a return on equity of 9.03% and a net margin of 12.84%. The company’s quarterly revenue was down 2.5% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.83 earnings per share. research analysts predict that Eversource Energy will post 3.15 earnings per share for the current fiscal year.
A number of research analysts recently commented on ES shares. Zacks Investment Research lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, October 25th. Janney Montgomery Scott set a $71.00 price objective on shares of Eversource Energy and gave the company a “buy” rating in a research note on Monday, July 31st. Deutsche Bank AG lowered shares of Eversource Energy from a “buy” rating to a “hold” rating and raised their price objective for the company from $61.00 to $61.50 in a research note on Monday, July 31st. Morgan Stanley raised their price objective on shares of Eversource Energy from $64.00 to $68.00 and gave the company an “equal weight” rating in a research note on Tuesday, October 24th. Finally, Bank of America Corporation started coverage on shares of Eversource Energy in a research note on Tuesday, October 24th. They set an “underperform” rating and a $62.00 price objective on the stock. Two analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $64.06.
In related news, COO Werner J. Schweiger sold 10,098 shares of the firm’s stock in a transaction that occurred on Thursday, November 9th. The shares were sold at an average price of $64.68, for a total transaction of $653,138.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.53% of the company’s stock.
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Eversource Energy Profile
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.
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