McKinley Carter Wealth Services Inc. purchased a new position in Eversource Energy (NYSE:ES) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 2,926 shares of the utilities provider’s stock, valued at approximately $222,000.

A number of other institutional investors also recently made changes to their positions in the business. Next Capital Management LLC increased its stake in Eversource Energy by 24.7% in the 2nd quarter. Next Capital Management LLC now owns 696 shares of the utilities provider’s stock worth $53,000 after purchasing an additional 138 shares during the period. 6 Meridian increased its stake in shares of Eversource Energy by 2.0% during the second quarter. 6 Meridian now owns 7,233 shares of the utilities provider’s stock valued at $548,000 after buying an additional 140 shares during the period. First Personal Financial Services increased its stake in shares of Eversource Energy by 25.8% during the second quarter. First Personal Financial Services now owns 692 shares of the utilities provider’s stock valued at $52,000 after buying an additional 142 shares during the period. BB&T Corp increased its stake in shares of Eversource Energy by 0.7% during the first quarter. BB&T Corp now owns 21,097 shares of the utilities provider’s stock valued at $1,497,000 after buying an additional 149 shares during the period. Finally, Cetera Advisors LLC increased its stake in shares of Eversource Energy by 2.3% during the first quarter. Cetera Advisors LLC now owns 7,576 shares of the utilities provider’s stock valued at $537,000 after buying an additional 172 shares during the period. 72.43% of the stock is currently owned by institutional investors and hedge funds.

ES has been the topic of several research analyst reports. Barclays boosted their target price on Eversource Energy from $71.00 to $79.00 and gave the company an “equal weight” rating in a research note on Tuesday, June 18th. Credit Suisse Group set a $76.00 target price on Eversource Energy and gave the company a “buy” rating in a research note on Monday, April 22nd. Wells Fargo & Co boosted their target price on Eversource Energy from $86.00 to $88.00 and gave the company an “outperform” rating in a research note on Tuesday, July 30th. Bank of America set a $78.00 target price on Eversource Energy and gave the company a “sell” rating in a research note on Monday, July 15th. Finally, Morgan Stanley reduced 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. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $76.33.

In related news, VP Gregory B. Butler sold 8,298 shares of the company’s stock in a transaction on Friday, August 2nd. The stock was sold at an average price of $77.30, for a total value of $641,435.40. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.37% of the stock is owned by corporate insiders.

ES stock traded up $0.22 during midday trading on Monday, hitting $78.86. The stock had a trading volume of 18,007 shares, compared to its average volume of 1,640,595. The firm has a market cap of $25.50 billion, a price-to-earnings ratio of 24.05, a price-to-earnings-growth ratio of 4.08 and a beta of 0.23. The business has a 50-day moving average of $77.07 and a two-hundred day moving average of $73.26. Eversource Energy has a 52-week low of $60.15 and a 52-week high of $79.11. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.61 and a quick ratio of 0.56.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.74 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.73 by $0.01. The company had revenue of $1.88 billion for the quarter, compared to analysts’ expectations of $1.95 billion. Eversource Energy had a return on equity of 9.24% and a net margin of 10.00%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the firm earned $0.76 earnings per share. Research analysts predict that Eversource Energy will post 3.43 earnings per share for the current year.

Eversource Energy Company Profile

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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