Forsta AP Fonden Has $7 Million Position in Eversource Energy (ES)

Forsta AP Fonden lessened its stake in Eversource Energy (NYSE:ES) by 24.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 115,853 shares of the utilities provider’s stock after selling 37,602 shares during the quarter. Forsta AP Fonden’s holdings in Eversource Energy were worth $7,002,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Advisory Services Network LLC raised its stake in Eversource Energy by 1.7% in the second quarter. Advisory Services Network LLC now owns 1,943 shares of the utilities provider’s stock valued at $118,000 after purchasing an additional 32 shares in the last quarter. Sun Life Financial INC raised its stake in Eversource Energy by 23,040.0% in the second quarter. Sun Life Financial INC now owns 2,314 shares of the utilities provider’s stock valued at $140,000 after purchasing an additional 2,304 shares in the last quarter. NEXT Financial Group Inc raised 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 purchasing an additional 1,520 shares in the last quarter. WFG Advisors LP raised its stake in Eversource Energy by 127.8% in the second quarter. WFG Advisors LP now owns 2,460 shares of the utilities provider’s stock valued at $149,000 after purchasing an additional 1,380 shares in the last quarter. Finally, Northwestern Mutual Wealth Management Co. raised its stake in Eversource Energy by 63.1% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 3,270 shares of the utilities provider’s stock valued at $199,000 after purchasing an additional 1,265 shares in the last quarter. 72.20% of the stock is owned by institutional investors and hedge funds.

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Shares of Eversource Energy (NYSE:ES) opened at $63.54 on Monday. The firm has a market capitalization of $20,134.92, a price-to-earnings ratio of 20.63, a PEG ratio of 3.40 and a beta of 0.31. The company has a quick ratio of 0.80, a current ratio of 0.92 and a debt-to-equity ratio of 0.94.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, November 1st. The utilities provider reported $0.82 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.84 by ($0.02). The firm 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 9.00% and a net margin of 12.84%. The business’s revenue for the quarter was down 2.5% on a year-over-year basis. During the same quarter last year, the firm posted $0.83 earnings per share. equities analysts forecast that Eversource Energy will post 3.15 EPS for the current fiscal year.

A number of research analysts recently commented on ES shares. Morgan Stanley reaffirmed an “equal weight” rating on shares of Eversource Energy in a research note on Tuesday, July 11th. BidaskClub downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Deutsche Bank AG downgraded Eversource Energy from a “buy” rating to a “hold” rating and boosted their target price for the stock from $61.00 to $61.50 in a research note on Monday, July 31st. Janney Montgomery Scott set a $71.00 target price on Eversource Energy and gave the stock a “buy” rating in a research note on Monday, July 31st. Finally, Credit Suisse Group boosted their target price on Eversource Energy from $60.00 to $63.00 and gave the stock a “neutral” rating in a research note on Monday, October 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus 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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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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