Saudi Central Bank increased its holdings in shares of Eversource Energy (NYSE:ES – Free Report) by 90.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 26,309 shares of the utilities provider’s stock after purchasing an additional 12,460 shares during the quarter. Saudi Central Bank’s holdings in Eversource Energy were worth $1,901,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of ES. Elevation Wealth Partners LLC boosted its stake in Eversource Energy by 220.2% during the second quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider’s stock worth $25,000 after buying an additional 240 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Eversource Energy in the 2nd quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Eversource Energy in the 4th quarter worth approximately $28,000. Godfrey Financial Associates Inc. acquired a new position in shares of Eversource Energy in the 4th quarter worth approximately $29,000. Finally, First Bancorp Inc ME purchased a new position in shares of Eversource Energy during the 2nd quarter worth approximately $30,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.
Eversource Energy Price Performance
Eversource Energy stock opened at $71.00 on Tuesday. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.63. Eversource Energy has a 52-week low of $62.45 and a 52-week high of $76.57. The firm has a market cap of $26.74 billion, a PE ratio of 18.39, a price-to-earnings-growth ratio of 3.08 and a beta of 0.69. The company’s 50 day moving average is $72.74 and its two-hundred day moving average is $71.08.
Wall Street Analysts Forecast Growth
A number of analysts have issued reports on the company. Wells Fargo & Company boosted their target price on Eversource Energy from $75.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. Weiss Ratings raised Eversource Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. Citigroup reiterated a “hold” rating and issued a $81.00 price objective on shares of Eversource Energy in a report on Monday, July 27th. BMO Capital Markets decreased their target price on Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Finally, Capital One Financial set a $73.00 target price on Eversource Energy in a report on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average target price of $72.92.
View Our Latest Stock Analysis on Eversource Energy
Eversource Energy Profile
Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.
Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.
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