New Mexico Educational Retirement Board Sells 2,700 Shares of Eversource Energy (ES)
New Mexico Educational Retirement Board lowered its stake in shares of Eversource Energy (NYSE:ES) by 8.4% during the second quarter, Holdings Channel reports. The fund owned 29,466 shares of the utilities provider’s stock after selling 2,700 shares during the period. New Mexico Educational Retirement Board’s holdings in Eversource Energy were worth $1,791,000 as of its most recent SEC filing.
Several other institutional investors have also added to or reduced their stakes in ES. Brookfield Asset Management Inc. purchased a new stake in shares of Eversource Energy during the first quarter valued at $106,000. Advisory Services Network LLC purchased a new stake in shares of Eversource Energy during the first quarter valued at $112,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Eversource Energy by 24.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,005 shares of the utilities provider’s stock valued at $119,000 after buying an additional 400 shares during the period. NEXT Financial Group Inc increased its stake in shares of Eversource Energy by 168.9% in the second quarter. NEXT Financial Group Inc now owns 2,420 shares of the utilities provider’s stock valued at $147,000 after buying an additional 1,520 shares during the period. Finally, First Personal Financial Services increased its stake in shares of Eversource Energy by 180.2% in the first quarter. First Personal Financial Services now owns 2,567 shares of the utilities provider’s stock valued at $151,000 after buying an additional 1,651 shares during the period. Hedge funds and other institutional investors own 71.03% of the company’s stock.
Shares of Eversource Energy (NYSE:ES) opened at 61.86 on Friday. The firm has a 50-day moving average of $60.97 and a 200-day moving average of $59.60. The company has a market cap of $19.60 billion, a P/E ratio of 20.02 and a beta of 0.28. Eversource Energy has a 52-week low of $50.56 and a 52-week high of $63.34.
Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.68 by $0.04. The business had revenue of $1.76 billion during the quarter, compared to analysts’ expectations of $1.91 billion. Eversource Energy had a net margin of 12.81% and a return on equity of 9.15%. The business’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter last year, the company posted $0.64 earnings per share. Equities research analysts forecast that Eversource Energy will post $3.15 earnings per share for the current year.
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Several equities research analysts recently weighed in on ES shares. Zacks Investment Research raised shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 price target for the company in a research report on Wednesday, June 21st. Janney Montgomery Scott set a $71.00 price target on shares of Eversource Energy and gave the company a “buy” rating in a research report on Monday, July 31st. Barclays PLC reissued an “equal weight” rating and set a $66.00 price target (up previously from $62.00) on shares of Eversource Energy in a research report on Thursday, June 1st. Morgan Stanley raised their price target on shares of Eversource Energy from $63.00 to $64.00 and gave the company an “equal weight” rating in a research report on Tuesday, June 6th. Finally, Deutsche Bank AG downgraded shares of Eversource Energy from a “buy” rating to a “hold” rating and raised their price target for the company from $61.00 to $61.50 in a research report on Monday, July 31st. One analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company. Eversource Energy has an average rating of “Hold” and an average price target of $62.95.
In other Eversource Energy news, VP Werner J. Schweiger sold 36,736 shares of the firm’s stock in a transaction on Wednesday, May 31st. The shares were sold at an average price of $62.00, for a total value of $2,277,632.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.53% of the company’s stock.
Eversource Energy Company 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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