Eversource Energy (NYSE:ES) EVP Sells $32,470.00 in Stock

Eversource Energy (NYSE:ES) EVP Penelope M. Conner sold 500 shares of the stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the sale, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Eversource Energy Trading Down 2.4 %

NYSE ES opened at $64.87 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.68 and a current ratio of 0.77. The company has a market capitalization of $22.85 billion, a price-to-earnings ratio of -54.97, a price-to-earnings-growth ratio of 2.53 and a beta of 0.59. The company’s 50-day simple moving average is $60.79 and its two-hundred day simple moving average is $59.40. Eversource Energy has a one year low of $52.03 and a one year high of $68.72.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting analysts’ consensus estimates of $0.95. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.00 EPS. Equities analysts forecast that Eversource Energy will post 4.56 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in ES. Bleakley Financial Group LLC increased its position in Eversource Energy by 7.1% during the 4th quarter. Bleakley Financial Group LLC now owns 6,651 shares of the utilities provider’s stock valued at $411,000 after purchasing an additional 443 shares during the period. International Assets Investment Management LLC bought a new stake in shares of Eversource Energy in the 4th quarter valued at about $98,360,000. Allspring Global Investments Holdings LLC boosted its holdings in shares of Eversource Energy by 69.4% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 300,885 shares of the utilities provider’s stock valued at $18,571,000 after buying an additional 123,278 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of Eversource Energy by 135.0% in the 4th quarter. Sequoia Financial Advisors LLC now owns 10,345 shares of the utilities provider’s stock valued at $638,000 after buying an additional 5,942 shares in the last quarter. Finally, Cerity Partners LLC boosted its holdings in shares of Eversource Energy by 536.0% in the 4th quarter. Cerity Partners LLC now owns 118,243 shares of the utilities provider’s stock valued at $7,298,000 after buying an additional 99,652 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on ES. Bank of America raised shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 target price on the stock in a research note on Tuesday, June 25th. Scotiabank reduced their target price on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Morgan Stanley reduced their target price on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. BMO Capital Markets raised their price target on shares of Eversource Energy from $69.00 to $73.00 and gave the stock a “market perform” rating in a research note on Monday, August 5th. Finally, Barclays raised their price target on shares of Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $67.43.

Eversource Energy Company Profile

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