Pioneer Investment Management Inc. Lowers Position in Eversource Energy (ES)
Pioneer Investment Management Inc. reduced its stake in shares of Eversource Energy (NYSE:ES) by 50.9% during the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 409,296 shares of the utilities provider’s stock after selling 424,652 shares during the period. Pioneer Investment Management Inc.’s holdings in Eversource Energy were worth $24,848,000 at the end of the most recent quarter.
Other large investors have also recently added to or reduced their stakes in the company. Brookfield Asset Management Inc. purchased a new stake in Eversource Energy during the first quarter valued at approximately $106,000. Advisory Services Network LLC purchased a new stake in Eversource Energy during the first quarter valued at approximately $112,000. Northwestern Mutual Wealth Management Co. boosted its stake in Eversource Energy by 24.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,005 shares of the utilities provider’s stock valued at $119,000 after buying an additional 400 shares during the period. NEXT Financial Group Inc boosted its stake in Eversource Energy by 168.9% in the second quarter. NEXT Financial Group Inc now owns 2,420 shares of the utilities provider’s stock valued at $147,000 after buying an additional 1,520 shares during the period. Finally, First Personal Financial Services boosted its stake in Eversource Energy by 180.2% in the first quarter. First Personal Financial Services now owns 2,567 shares of the utilities provider’s stock valued at $151,000 after buying an additional 1,651 shares during the period. 71.03% of the stock is owned by institutional investors.
Eversource Energy (NYSE ES) opened at 61.73 on Thursday. The firm has a market capitalization of $19.57 billion, a PE ratio of 19.98 and a beta of 0.28. Eversource Energy has a 1-year low of $50.56 and a 1-year high of $63.34. The firm has a 50-day moving average price of $60.99 and a 200-day moving average price of $59.53.
Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, July 27th. The utilities provider reported $0.72 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.68 by $0.04. The company had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.91 billion. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same period last year, the business posted $0.64 EPS. Equities analysts expect that Eversource Energy will post $3.15 earnings per share for the current fiscal year.
ES has been the subject of a number of analyst reports. Deutsche Bank AG cut Eversource Energy from a “buy” rating to a “hold” rating and lifted their price objective for the stock from $61.00 to $61.50 in a research note on Monday, July 31st. Janney Montgomery Scott set a $71.00 price objective on Eversource Energy and gave the stock a “buy” rating in a research note on Monday, July 31st. BMO Capital Markets lifted their price objective on Eversource Energy from $57.00 to $61.00 and gave the stock a “market perform” rating in a research note on Monday, May 15th. BidaskClub cut Eversource Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Finally, Barclays PLC reaffirmed an “equal weight” rating and set a $66.00 price objective (up from $62.00) on shares of Eversource Energy in a research note on Thursday, June 1st. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $62.75.
In other news, VP Werner J. Schweiger sold 48,544 shares of the firm’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $61.01, for a total value of $2,961,669.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.53% of the company’s stock.
About Eversource Energy
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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