Great West Life Assurance Co. Can Increases Stake in Eversource Energy (ES)
Great West Life Assurance Co. Can lifted its stake in shares of Eversource Energy (NYSE:ES) by 1.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 419,454 shares of the utilities provider’s stock after purchasing an additional 7,759 shares during the period. Great West Life Assurance Co. Can owned approximately 0.13% of Eversource Energy worth $25,334,000 at the end of the most recent reporting period.
Other hedge funds also recently made changes to their positions in the company. BB&T Securities LLC bought a new stake in shares of Eversource Energy during the second quarter worth approximately $1,033,000. Teacher Retirement System of Texas bought a new stake in shares of Eversource Energy during the second quarter worth approximately $200,000. Swiss National Bank raised its stake in shares of Eversource Energy by 3.0% during the second quarter. Swiss National Bank now owns 1,157,857 shares of the utilities provider’s stock worth $70,293,000 after buying an additional 33,900 shares during the last quarter. Toronto Dominion Bank raised its stake in shares of Eversource Energy by 25.5% during the second quarter. Toronto Dominion Bank now owns 107,349 shares of the utilities provider’s stock worth $6,516,000 after buying an additional 21,833 shares during the last quarter. Finally, Troy Asset Management Ltd raised its stake in shares of Eversource Energy by 14.4% during the third quarter. Troy Asset Management Ltd now owns 55,500 shares of the utilities provider’s stock worth $3,354,000 after buying an additional 7,000 shares during the last quarter. Institutional investors own 72.21% of the company’s stock.
Shares of Eversource Energy (NYSE ES) traded up $0.24 during trading hours on Friday, reaching $64.85. 3,708,300 shares of the company’s stock traded hands, compared to its average volume of 1,418,459. Eversource Energy has a 1 year low of $50.56 and a 1 year high of $66.15. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.92 and a quick ratio of 0.80. The company has a market capitalization of $20,740.00, a P/E ratio of 20.96, a PEG ratio of 3.46 and a beta of 0.31.
Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, November 1st. The utilities provider reported $0.82 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). Eversource Energy had a net margin of 12.84% and a return on equity of 9.03%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same period in the previous year, the company posted $0.83 EPS. The firm’s revenue for the quarter was down 2.5% on a year-over-year basis. equities analysts forecast that Eversource Energy will post 3.15 earnings per share for the current year.
In other news, COO Werner J. Schweiger sold 10,098 shares of the stock in a transaction on Thursday, November 9th. The shares were sold at an average price of $64.68, for a total transaction of $653,138.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by corporate insiders.
Several brokerages have commented on ES. BidaskClub raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Friday, August 18th. Williams Capital upped their target price on shares of Eversource Energy from $64.00 to $66.00 and gave the company a “buy” rating in a research note on Monday, October 23rd. Credit Suisse Group upped their target price on shares of Eversource Energy from $60.00 to $63.00 and gave the company a “neutral” rating in a research note on Monday, October 2nd. Morgan Stanley upped their target price on shares of Eversource Energy from $64.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday, August 10th. Finally, Bank of America began coverage on shares of Eversource Energy in a research note on Tuesday, October 24th. They issued an “underperform” rating and a $62.00 target price for the company. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company. The company has a consensus rating of “Hold” and an average price target of $64.06.
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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