Perennial Investment Advisors LLC Takes Position in Eversource Energy (NYSE:ES)

Perennial Investment Advisors LLC bought a new stake in Eversource Energy (NYSE:ES) during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 2,697 shares of the utilities provider’s stock, valued at approximately $211,000.

A number of other institutional investors have also modified their holdings of the stock. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in Eversource Energy during the first quarter worth $1,257,000. Dimensional Fund Advisors LP grew its holdings in Eversource Energy by 16.3% during the first quarter. Dimensional Fund Advisors LP now owns 1,130,660 shares of the utilities provider’s stock worth $99,716,000 after acquiring an additional 158,844 shares during the period. Vontobel Holding Ltd. grew its holdings in Eversource Energy by 8.5% during the first quarter. Vontobel Holding Ltd. now owns 7,816 shares of the utilities provider’s stock worth $693,000 after acquiring an additional 613 shares during the period. Sei Investments Co. boosted its position in Eversource Energy by 1.5% during the first quarter. Sei Investments Co. now owns 153,081 shares of the utilities provider’s stock worth $13,510,000 after purchasing an additional 2,219 shares in the last quarter. Finally, Allianz Asset Management GmbH grew its holdings in Eversource Energy by 76.9% in the first quarter. Allianz Asset Management GmbH now owns 133,385 shares of the utilities provider’s stock valued at $11,763,000 after purchasing an additional 57,995 shares during the last quarter. Institutional investors and hedge funds own 80.83% of the company’s stock.

Eversource Energy Price Performance

ES opened at $64.62 on Wednesday. The company’s 50 day simple moving average is $69.34 and its 200 day simple moving average is $73.37. The company has a debt-to-equity ratio of 1.40, a quick ratio of 0.57 and a current ratio of 0.64. Eversource Energy has a 1 year low of $63.30 and a 1 year high of $92.80. The stock has a market capitalization of $22.56 billion, a PE ratio of 19.39, a P/E/G ratio of 2.63 and a beta of 0.47.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Monday, July 31st. The utilities provider reported $1.00 earnings per share for the quarter, beating analysts’ consensus estimates of $0.91 by $0.09. The firm had revenue of $2.63 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Eversource Energy had a net margin of 9.28% and a return on equity of 9.78%. Eversource Energy’s revenue was up 2.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.86 earnings per share. As a group, sell-side analysts expect that Eversource Energy will post 4.36 EPS for the current year.

Analyst Ratings Changes

ES has been the subject of several recent research reports. Citigroup dropped their target price on shares of Eversource Energy from $86.00 to $80.00 in a report on Sunday, July 16th. Guggenheim dropped their target price on shares of Eversource Energy from $91.00 to $86.00 in a report on Friday, July 7th. BMO Capital Markets dropped their target price on shares of Eversource Energy from $77.00 to $75.00 and set a “market perform” rating for the company in a report on Wednesday, August 2nd. JPMorgan Chase & Co. dropped their target price on shares of Eversource Energy from $87.00 to $78.00 in a report on Wednesday, June 7th. Finally, Barclays initiated coverage on shares of Eversource Energy in a report on Wednesday, August 23rd. They set an “equal weight” rating and a $72.00 target price for the company. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and an average target price of $81.33.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, VP Gregory B. Butler sold 15,000 shares of Eversource Energy stock in a transaction that occurred on Wednesday, August 16th. The shares were sold at an average price of $64.25, for a total transaction of $963,750.00. Following the transaction, the vice president now directly owns 63,554 shares of the company’s stock, valued at $4,083,344.50. The sale was disclosed in a filing with the SEC, which is available at this link. 0.38% of the stock is currently owned by corporate insiders.

About Eversource Energy

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.