Municipal Employees Retirement System of Michigan Decreases Holdings in Eversource Energy (ES)
Municipal Employees Retirement System of Michigan trimmed its position in Eversource Energy (NYSE:ES) by 8.2% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,870 shares of the utilities provider’s stock after selling 2,050 shares during the quarter. Municipal Employees Retirement System of Michigan’s holdings in Eversource Energy were worth $1,382,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently modified their holdings of ES. Advisory Services Network LLC grew its holdings in shares of Eversource Energy by 1.7% during the 2nd quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock worth $118,000 after purchasing an additional 32 shares in the last quarter. Sun Life Financial INC grew its holdings in shares of Eversource Energy by 23,040.0% during the 2nd quarter. Sun Life Financial INC now owns 2,314 shares of the utilities provider’s stock worth $140,000 after purchasing an additional 2,304 shares in the last quarter. WFG Advisors LP grew its holdings in shares of Eversource Energy by 127.8% during the 2nd quarter. WFG Advisors LP now owns 2,460 shares of the utilities provider’s stock worth $149,000 after purchasing an additional 1,380 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of Eversource Energy by 63.1% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 3,270 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 1,265 shares in the last quarter. Finally, Teacher Retirement System of Texas acquired a new stake in shares of Eversource Energy during the 2nd quarter worth $200,000. 72.43% of the stock is currently owned by hedge funds and other institutional investors.
In other Eversource Energy news, COO Werner J. Schweiger sold 10,098 shares of the stock in a transaction dated Thursday, November 9th. The stock was sold at an average price of $64.68, for a total value of $653,138.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.53% of the stock is currently owned by company insiders.
Several research firms have recently issued reports on ES. BidaskClub raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, August 18th. Zacks Investment Research lowered Eversource Energy from a “hold” rating to a “sell” rating in a report on Wednesday, October 25th. Morgan Stanley increased their target price on Eversource Energy from $64.00 to $68.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 24th. Bank of America Corporation began coverage on Eversource Energy in a report on Tuesday, October 24th. They set an “underperform” rating and a $62.00 target price on the stock. Finally, Williams Capital increased their target price on Eversource Energy from $64.00 to $66.00 and gave the stock a “buy” rating in a report on Monday, October 23rd. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $64.06.
Shares of Eversource Energy (NYSE ES) opened at $64.21 on Friday. The company has a current ratio of 0.92, a quick ratio of 0.80 and a debt-to-equity ratio of 0.95. Eversource Energy has a 1 year low of $50.56 and a 1 year high of $66.15. The firm has a market capitalization of $20,347.25, a price-to-earnings ratio of 20.85, a P/E/G ratio of 3.44 and a beta of 0.31.
Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Wednesday, November 1st. The utilities provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.84 by ($0.02). The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.06 billion. Eversource Energy had a return on equity of 9.03% and a net margin of 12.84%. Eversource Energy’s quarterly revenue was down 2.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.83 earnings per share. analysts predict that Eversource Energy will post 3.15 earnings per share for the current year.
Eversource Energy Profile
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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