Eversource Energy (NYSE:ES) Shares Purchased by Van ECK Associates Corp

Van ECK Associates Corp lifted its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 9.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 90,658 shares of the utilities provider's stock after purchasing an additional 7,906 shares during the period. Van ECK Associates Corp's holdings in Eversource Energy were worth $5,141,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Salem Investment Counselors Inc. increased its holdings in Eversource Energy by 49.7% in the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider's stock valued at $33,000 after purchasing an additional 181 shares during the last quarter. Bar Harbor Wealth Management increased its stake 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 valued at $271,000 after acquiring an additional 190 shares during the last quarter. Avantax Advisory Services Inc. raised its position in shares of Eversource Energy by 2.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider's stock valued at $475,000 after acquiring an additional 192 shares during the period. Presima Securities ULC boosted its stake in Eversource Energy by 1.5% during the 4th quarter. Presima Securities ULC now owns 13,730 shares of the utilities provider's stock worth $847,000 after acquiring an additional 200 shares during the last quarter. Finally, Versant Capital Management Inc boosted its stake in Eversource Energy by 62.6% during the 1st quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider's stock worth $31,000 after acquiring an additional 201 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Bank of America raised their price objective on Eversource Energy from $67.00 to $68.00 and gave the stock a "neutral" rating in a research note on Thursday, August 29th. Barclays boosted their price objective on Eversource Energy from $65.00 to $69.00 and gave the company an "equal weight" rating in a research report on Monday, July 22nd. BMO Capital Markets lowered their target price on Eversource Energy from $73.00 to $70.00 and set a "market perform" rating for the company in a research note on Monday, August 19th. StockNews.com lowered shares of Eversource Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 27th. Finally, Morgan Stanley increased their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $68.93.

Insider Activity

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the firm's stock in a transaction 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 transaction, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the company's stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the transaction, the executive vice president now owns 9,847 shares in the company, valued at approximately $639,464.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the company's stock in a transaction 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 completion of the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company's stock.

Eversource Energy Trading Up 0.6 %

Shares of Eversource Energy stock traded up $0.44 during midday trading on Wednesday, reaching $68.17. 1,418,787 shares of the company's stock traded hands, compared to its average volume of 2,501,244. 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 1.74, a quick ratio of 0.66 and a current ratio of 0.75. The stock has a 50 day moving average of $63.21 and a 200-day moving average of $60.56. The company has a market cap of $24.01 billion, a PE ratio of -57.77, a price-to-earnings-growth ratio of 2.58 and a beta of 0.59.

Eversource Energy (NYSE:ES - Get Free Report) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.95. The business had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The business's revenue for the quarter was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.00 EPS. As a group, equities analysts expect that Eversource Energy will post 4.56 EPS for the current fiscal year.

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.