First PREMIER Bank Reduces Stock Position in Eversource Energy (NYSE:ES)

First PREMIER Bank lessened its holdings in Eversource Energy (NYSE:ES) by 7.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,585 shares of the utilities provider’s stock after selling 1,721 shares during the quarter. First PREMIER Bank’s holdings in Eversource Energy were worth $1,281,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of ES. Bleakley Financial Group LLC grew its holdings in shares of Eversource Energy by 7.1% during the fourth quarter. Bleakley Financial Group LLC now owns 6,651 shares of the utilities provider’s stock worth $411,000 after purchasing an additional 443 shares during the last quarter. International Assets Investment Management LLC purchased a new position in shares of Eversource Energy during the fourth quarter worth about $98,360,000. Allspring Global Investments Holdings LLC grew its holdings in shares of Eversource Energy by 69.4% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 300,885 shares of the utilities provider’s stock worth $18,571,000 after purchasing an additional 123,278 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Eversource Energy by 135.0% during the fourth quarter. Sequoia Financial Advisors LLC now owns 10,345 shares of the utilities provider’s stock worth $638,000 after purchasing an additional 5,942 shares during the last quarter. Finally, Cerity Partners LLC grew its holdings in shares of Eversource Energy by 536.0% during the fourth quarter. Cerity Partners LLC now owns 118,243 shares of the utilities provider’s stock worth $7,298,000 after purchasing an additional 99,652 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

NYSE:ES traded down $1.58 during mid-day trading on Thursday, reaching $64.87. The stock had a trading volume of 3,628,329 shares, compared to its average volume of 2,545,239. 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 firm has a market capitalization of $22.85 billion, a price-to-earnings ratio of -54.97, a PEG ratio of 2.53 and a beta of 0.59. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $68.72. The business has a 50 day simple moving average of $60.79 and a 200 day simple moving average of $59.40.

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

Insider Activity

In other news, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the sale, the executive vice president now directly owns 10,272 shares in the company, valued at approximately $603,480. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Penelope M. Conner sold 2,700 shares of the firm’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $58.75, for a total transaction of $158,625.00. Following the transaction, the executive vice president now directly owns 10,272 shares of the company’s stock, valued at $603,480. The disclosure for this sale can be found here. In the last three months, insiders sold 14,015 shares of company stock worth $806,478. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

ES has been the topic of several research reports. Scotiabank dropped their price objective on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. BMO Capital Markets increased their target price 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. Morgan Stanley decreased their target price on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. Barclays increased their target price 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. Finally, Wells Fargo & Company increased their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd. One equities 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, Eversource Energy presently has an average rating of “Hold” and an average target price of $67.43.

About Eversource Energy

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.