Raymond James & Associates Buys 5,989 Shares of Eversource Energy (NYSE:ES)

Raymond James & Associates boosted its stake in Eversource Energy (NYSE:ES) by 2.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 229,126 shares of the utilities provider’s stock after purchasing an additional 5,989 shares during the period. Raymond James & Associates’ holdings in Eversource Energy were worth $19,080,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. State Street Corp increased its position in Eversource Energy by 13.9% in the 1st quarter. State Street Corp now owns 20,738,944 shares of the utilities provider’s stock valued at $1,621,993,000 after acquiring an additional 2,530,839 shares during the period. BlackRock Inc. grew its stake in shares of Eversource Energy by 5.5% in the first quarter. BlackRock Inc. now owns 30,425,832 shares of the utilities provider’s stock worth $2,379,604,000 after purchasing an additional 1,575,796 shares during the last quarter. Zimmer Partners LP increased its holdings in Eversource Energy by 45.5% in the first quarter. Zimmer Partners LP now owns 2,400,000 shares of the utilities provider’s stock valued at $187,704,000 after purchasing an additional 750,000 shares during the period. Deutsche Bank AG raised its position in Eversource Energy by 14.6% during the 1st quarter. Deutsche Bank AG now owns 5,820,217 shares of the utilities provider’s stock worth $455,198,000 after purchasing an additional 740,483 shares during the last quarter. Finally, Unigestion Holding SA bought a new position in Eversource Energy during the 1st quarter worth $56,038,000. Hedge funds and other institutional investors own 78.14% of the company’s stock.

A number of equities analysts have recently issued reports on the company. Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $97.00 price objective for the company in a research report on Tuesday, May 12th. Zacks Investment Research raised shares of Eversource Energy from a “hold” rating to a “buy” rating and set a $96.00 price objective on the stock in a research note on Monday, April 13th. Evercore ISI upgraded shares of Eversource Energy from an “underperform” rating to an “in-line” rating and decreased their price objective for the stock from $93.00 to $91.00 in a research report on Monday, April 20th. Credit Suisse Group cut shares of Eversource Energy from a “neutral” rating to an “underperform” rating and upped their price target for the company from $76.00 to $81.00 in a research report on Monday, July 20th. They noted that the move was a valuation call. Finally, Morgan Stanley increased their price target on Eversource Energy from $77.00 to $80.00 and gave the stock an “underweight” rating in a report on Friday, July 17th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and seven have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $90.40.

Shares of Eversource Energy stock opened at $90.07 on Friday. The business has a 50-day simple moving average of $85.52 and a 200 day simple moving average of $85.68. Eversource Energy has a one year low of $60.69 and a one year high of $99.42. The company has a debt-to-equity ratio of 1.05, a current ratio of 0.75 and a quick ratio of 0.67. The firm has a market capitalization of $30.30 billion, a price-to-earnings ratio of 25.73, a PEG ratio of 4.03 and a beta of 0.34.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.75 EPS for the quarter, missing the Zacks’ consensus estimate of $0.76 by ($0.01). Eversource Energy had a net margin of 13.52% and a return on equity of 9.16%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.04 billion. On average, sell-side analysts expect that Eversource Energy will post 3.64 EPS for the current year.

Eversource Energy Company Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

See Also: How to identify percentage decliners

Want to see what other hedge funds are holding ES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eversource Energy (NYSE:ES).

Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

Receive News & Ratings for Eversource Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eversource Energy and related companies with MarketBeat.com's FREE daily email newsletter.