State of Alaska Department of Revenue reduced its stake in shares of Eversource Energy (NYSE:ES – Get Rating) by 32.8% in the second quarter, HoldingsChannel.com reports. The fund owned 49,535 shares of the utilities provider’s stock after selling 24,141 shares during the quarter. State of Alaska Department of Revenue’s holdings in Eversource Energy were worth $4,184,000 at the end of the most recent reporting period.
A number of other hedge funds also recently made changes to their positions in the stock. BlackRock Inc. raised its position in Eversource Energy by 19.3% in the 4th quarter. BlackRock Inc. now owns 39,646,912 shares of the utilities provider’s stock worth $3,607,077,000 after purchasing an additional 6,402,262 shares during the period. Nordea Investment Management AB increased its position in shares of Eversource Energy by 1,746.9% in the first quarter. Nordea Investment Management AB now owns 4,002,400 shares of the utilities provider’s stock valued at $355,813,000 after acquiring an additional 3,785,686 shares during the period. Norges Bank purchased a new position in shares of Eversource Energy in the fourth quarter valued at about $197,480,000. State Street Corp increased its position in shares of Eversource Energy by 6.8% in the first quarter. State Street Corp now owns 23,681,621 shares of the utilities provider’s stock valued at $2,088,482,000 after acquiring an additional 1,517,624 shares during the period. Finally, Vanguard Group Inc. increased its position in shares of Eversource Energy by 2.2% in the first quarter. Vanguard Group Inc. now owns 42,679,421 shares of the utilities provider’s stock valued at $3,763,898,000 after acquiring an additional 925,807 shares during the period. 78.40% of the stock is owned by institutional investors.
Eversource Energy Trading Down 0.9 %
Shares of NYSE ES opened at $87.83 on Thursday. The firm’s 50 day moving average price is $89.52 and its 200-day moving average price is $88.27. The company has a market cap of $30.43 billion, a PE ratio of 22.93, a P/E/G ratio of 3.48 and a beta of 0.44. Eversource Energy has a 52-week low of $77.07 and a 52-week high of $94.63. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.71 and a current ratio of 0.77.
Eversource Energy Dividend Announcement
Insider Transactions at Eversource Energy
In other news, VP Gregory B. Butler sold 5,000 shares of the company’s stock in a transaction that occurred on Monday, August 29th. The shares were sold at an average price of $91.33, for a total value of $456,650.00. Following the transaction, the vice president now owns 71,814 shares in the company, valued at $6,558,772.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.38% of the company’s stock.
Analyst Ratings Changes
A number of research firms have issued reports on ES. Evercore ISI decreased their price objective on shares of Eversource Energy to $91.00 in a research report on Tuesday, August 9th. Morgan Stanley boosted their price objective on shares of Eversource Energy from $89.00 to $96.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 23rd. Mizuho boosted their price objective on shares of Eversource Energy from $91.00 to $94.00 and gave the company a “neutral” rating in a research report on Wednesday, August 10th. UBS Group lifted their target price on shares of Eversource Energy to $89.00 in a research note on Tuesday, September 6th. Finally, Wolfe Research raised shares of Eversource Energy from a “peer perform” rating to an “outperform” rating and set a $96.00 target price on the stock in a research note on Monday, August 1st. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and four have assigned a buy rating to the company. According to data from MarketBeat, Eversource Energy currently has a consensus rating of “Hold” and a consensus target price of $92.18.
Eversource Energy Company Profile
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.
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