State of Michigan Retirement System boosted its stake in Eversource Energy (NYSE:ES) by 15.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 85,893 shares of the utilities provider’s stock after acquiring an additional 11,729 shares during the period. State of Michigan Retirement System’s holdings in Eversource Energy were worth $7,152,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. State Street Corp increased its holdings in Eversource Energy by 13.9% in the first quarter. State Street Corp now owns 20,738,944 shares of the utilities provider’s stock worth $1,621,993,000 after purchasing an additional 2,530,839 shares in the last quarter. BlackRock Inc. increased its stake in shares of Eversource Energy by 5.5% in the 1st quarter. BlackRock Inc. now owns 30,425,832 shares of the utilities provider’s stock valued at $2,379,604,000 after acquiring an additional 1,575,796 shares in the last quarter. Zimmer Partners LP increased its stake in shares of Eversource Energy by 45.5% in the 1st quarter. Zimmer Partners LP now owns 2,400,000 shares of the utilities provider’s stock valued at $187,704,000 after acquiring an additional 750,000 shares in the last quarter. Deutsche Bank AG boosted its stake in Eversource Energy by 14.6% during the first quarter. Deutsche Bank AG now owns 5,820,217 shares of the utilities provider’s stock worth $455,198,000 after acquiring an additional 740,483 shares in the last quarter. Finally, Unigestion Holding SA bought a new position in Eversource Energy during the first quarter worth $56,038,000. 78.14% of the stock is owned by institutional investors and hedge funds.
ES has been the topic of several research reports. UBS Group upped their price objective on shares of Eversource Energy from $82.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Seaport Global Securities started coverage on Eversource Energy in a report on Wednesday, May 20th. They issued a “buy” rating and a $88.00 price target on the stock. Barclays reduced their price objective on shares of Eversource Energy from $90.00 to $88.00 and set an “equal weight” rating for the company in a report on Friday, May 22nd. Morgan Stanley increased their price objective on Eversource Energy from $77.00 to $80.00 and gave the stock an “underweight” rating in a research note on Friday, July 17th. Finally, Janney Montgomery Scott raised Eversource Energy from a “neutral” rating to a “buy” rating and set a $97.00 target price on the stock in a research report on Tuesday, May 12th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $90.40.
Shares of ES stock opened at $90.07 on Friday. The company has a quick ratio of 0.67, a current ratio of 0.75 and a debt-to-equity ratio of 1.05. The firm has a market cap of $30.30 billion, a P/E ratio of 25.73, a PEG ratio of 4.03 and a beta of 0.34. The company has a 50 day moving average of $85.52 and a 200-day moving average of $85.68. Eversource Energy has a 12-month low of $60.69 and a 12-month high of $99.42.
Eversource Energy (NYSE:ES) last released its earnings results on Thursday, July 30th. The utilities provider reported $0.75 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.01). Eversource Energy had a return on equity of 9.16% and a net margin of 13.52%. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $2.04 billion. As a group, equities analysts expect that Eversource Energy will post 3.64 EPS 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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