Burney Co. Raises Stock Position in Eversource Energy (NYSE:ES)

Burney Co. increased its holdings in Eversource Energy (NYSE:ES - Free Report) by 15.1% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,376 shares of the utilities provider's stock after purchasing an additional 5,048 shares during the quarter. Burney Co.'s holdings in Eversource Energy were worth $2,176,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ES. Salem Investment Counselors Inc. raised its holdings in Eversource Energy by 49.7% in the 1st quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider's stock worth $33,000 after purchasing an additional 181 shares in the last quarter. Bar Harbor Wealth Management raised its position in shares of Eversource Energy by 4.1% in the 2nd quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider's stock worth $271,000 after acquiring an additional 190 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Eversource Energy by 2.5% during the first quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider's stock valued at $475,000 after purchasing an additional 192 shares in the last quarter. Presima Securities ULC raised its holdings in Eversource Energy by 1.5% in the fourth quarter. Presima Securities ULC now owns 13,730 shares of the utilities provider's stock worth $847,000 after purchasing an additional 200 shares in the last quarter. Finally, Versant Capital Management Inc lifted its position in Eversource Energy by 62.6% during the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider's stock valued at $31,000 after buying an additional 201 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.

Eversource Energy Stock Performance

Shares of NYSE:ES traded down $0.38 during midday trading on Thursday, hitting $66.66. The company had a trading volume of 1,088,605 shares, compared to its average volume of 2,506,019. The company has a fifty day moving average of $62.20 and a two-hundred day moving average of $60.18. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $68.72. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68. The company has a market cap of $23.48 billion, a price-to-earnings ratio of -56.49, a PEG ratio of 2.53 and a beta of 0.59.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the company posted $1.00 EPS. The firm's revenue was down 3.7% on a year-over-year basis. On average, equities research analysts expect that Eversource Energy will post 4.56 EPS for the current fiscal year.

Analyst Ratings Changes

ES has been the topic of a number of recent research reports. Scotiabank upped their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 20th. Morgan Stanley raised their price objective on Eversource Energy from $69.00 to $75.00 and gave the company an "equal weight" rating in a research report on Friday, August 23rd. Wells Fargo & Company boosted their target price on Eversource Energy from $72.00 to $79.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. StockNews.com downgraded Eversource Energy from a "hold" rating to a "sell" rating in a report on Saturday, July 27th. Finally, Bank of America upped their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a "neutral" rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $68.93.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares of the company's stock, valued at approximately $591,596. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $58.75, for a total value of $158,625.00. Following the sale, the executive vice president now directly owns 10,272 shares of the company's stock, valued at $603,480. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares of the company's stock, valued at $591,596. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,015 shares of company stock worth $244,478. 0.41% of the stock is owned by corporate insiders.

Eversource Energy 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.