Wedge Capital Management L L P NC Cuts Stock Position in Eversource Energy (NYSE:ES)
Wedge Capital Management L L P NC lessened its stake in Eversource Energy (NYSE:ES) by 0.6% in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 165,587 shares of the utilities provider’s stock after selling 975 shares during the quarter. Wedge Capital Management L L P NC owned approximately 0.05% of Eversource Energy worth $12,545,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Bremer Bank National Association purchased a new stake in Eversource Energy in the 1st quarter worth $28,000. Hexavest Inc. acquired a new stake in Eversource Energy during the 2nd quarter worth $42,000. Next Capital Management LLC acquired a new stake in Eversource Energy during the 1st quarter worth $40,000. First Personal Financial Services boosted its stake in Eversource Energy by 25.8% during the 2nd quarter. First Personal Financial Services now owns 692 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 142 shares during the last quarter. Finally, Carroll Financial Associates Inc. boosted its stake in Eversource Energy by 55.3% during the 1st quarter. Carroll Financial Associates Inc. now owns 713 shares of the utilities provider’s stock worth $50,000 after purchasing an additional 254 shares during the last quarter. 74.17% of the stock is owned by institutional investors.
Several equities research analysts have issued reports on ES shares. Bank of America set a $78.00 target price on shares of Eversource Energy and gave the stock a “sell” rating in a research note on Monday, July 15th. Wells Fargo & Co lifted their target price on shares of Eversource Energy from $86.00 to $88.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 30th. Credit Suisse Group set a $76.00 target price on shares of Eversource Energy and gave the stock a “buy” rating in a research note on Monday, April 22nd. UBS Group lifted their target price on shares of Eversource Energy from $81.00 to $85.00 and gave the stock a “buy” rating in a research note on Friday, June 7th. Finally, Morgan Stanley lifted their target price on shares of Eversource Energy from $74.00 to $78.00 and gave the stock an “equal weight” rating in a research note on Friday, June 14th. Two equities research analysts have rated the stock with a sell rating, five have given a hold rating and eight have assigned a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $76.42.
Shares of ES stock traded up $0.99 on Thursday, hitting $78.15. 31,432 shares of the stock traded hands, compared to its average volume of 1,666,428. The company’s 50-day moving average price is $76.96. The company has a quick ratio of 0.56, a current ratio of 0.61 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $24.96 billion, a PE ratio of 23.63, a PEG ratio of 4.02 and a beta of 0.23. Eversource Energy has a twelve month low of $60.15 and a twelve month high of $78.88.
Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.74 earnings per share for the quarter, beating the consensus estimate of $0.73 by $0.01. The firm had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Eversource Energy had a net margin of 10.00% and a return on equity of 9.24%. The company’s revenue was up 1.7% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.76 EPS. As a group, equities research analysts expect that Eversource Energy will post 3.43 EPS for the current fiscal year.
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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