Penobscot Investment Management Company Inc. Cuts Stock Position in Eversource Energy (NYSE:ES)

Penobscot Investment Management Company Inc. lessened its holdings in Eversource Energy (NYSE:ES) by 4.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 59,635 shares of the utilities provider’s stock after selling 2,920 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Eversource Energy were worth $4,518,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of ES. Bremer Bank National Association purchased a new stake in Eversource Energy during the 1st quarter worth $28,000. Centersquare Investment Management LLC increased its stake in Eversource Energy by 368,643.4% during the 1st quarter. Centersquare Investment Management LLC now owns 3,576,811 shares of the utilities provider’s stock worth $28,000 after buying an additional 3,575,841 shares during the period. Kavar Capital Partners LLC purchased a new stake in Eversource Energy during the 2nd quarter worth $30,000. Next Capital Management LLC purchased a new stake in Eversource Energy during the 1st quarter worth $40,000. Finally, Hexavest Inc. purchased a new stake in Eversource Energy during the 2nd quarter worth $42,000. 74.17% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE ES traded down $0.19 during midday trading on Friday, hitting $78.62. The company’s stock had a trading volume of 75,718 shares, compared to its average volume of 1,645,724. Eversource Energy has a 1-year low of $60.15 and a 1-year high of $79.11. The firm’s fifty day moving average price is $77.01 and its 200-day moving average price is $73.24. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.56 and a current ratio of 0.61. The firm has a market cap of $25.21 billion, a P/E ratio of 23.97, a P/E/G ratio of 4.03 and a beta of 0.23.



Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.74 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.73 by $0.01. Eversource Energy had a net margin of 10.00% and a return on equity of 9.24%. The business had revenue of $1.88 billion during the quarter, compared to analyst estimates of $1.95 billion. During the same period in the previous year, the business posted $0.76 EPS. The company’s quarterly revenue was up 1.7% on a year-over-year basis. As a group, research analysts predict that Eversource Energy will post 3.43 earnings per share for the current fiscal year.

ES has been the topic of several analyst reports. KeyCorp initiated coverage on shares of Eversource Energy in a research note on Tuesday, June 4th. They set an “overweight” rating and a $80.00 price target on the stock. Wells Fargo & Co boosted their target price on shares of Eversource Energy from $86.00 to $88.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 30th. Barclays boosted their target price on shares of Eversource Energy from $71.00 to $79.00 and gave the stock an “equal weight” rating in a research report on Tuesday, June 18th. Morgan Stanley dropped their target price on shares of Eversource Energy from $78.00 to $77.00 and set an “equal weight” rating for the company in a research report on Friday. Finally, Credit Suisse Group set a $76.00 target price on shares of Eversource Energy and gave the stock a “buy” rating in a research report on Monday, April 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. Eversource Energy currently has a consensus rating of “Hold” and an average price target of $76.33.

In other Eversource Energy news, VP Gregory B. Butler sold 8,298 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $77.30, for a total transaction of $641,435.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.37% of the company’s stock.

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.

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

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