Eversource Energy (NYSE:ES) Shares Sold by Swedbank AB

Swedbank AB trimmed its holdings in shares of Eversource Energy (NYSE:ES) by 3.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 513,268 shares of the utilities provider’s stock after selling 20,911 shares during the period. Swedbank AB owned approximately 0.15% of Eversource Energy worth $29,107,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ES. Salem Investment Counselors Inc. raised its holdings in shares of Eversource Energy by 49.7% during the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 181 shares during the period. Bar Harbor Wealth Management raised its position in shares of Eversource Energy by 4.1% in the second quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock valued at $271,000 after purchasing an additional 190 shares during the period. Avantax Advisory Services Inc. lifted its position in Eversource Energy by 2.5% during the 1st quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock worth $475,000 after acquiring an additional 192 shares during the last quarter. Presima Securities ULC lifted its position in shares of Eversource Energy by 1.5% during the 4th quarter. Presima Securities ULC now owns 13,730 shares of the utilities provider’s stock worth $847,000 after purchasing an additional 200 shares during the last quarter. Finally, Versant Capital Management Inc lifted its holdings in shares of Eversource Energy by 62.6% during the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after buying an additional 201 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total value of $562,000.00. Following the sale, the vice president now owns 63,808 shares in the company, valued at approximately $3,586,009.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Eversource Energy news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the sale, the vice president now directly owns 63,808 shares in the company, valued at $3,586,009.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the sale, the executive vice president now owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The disclosure for this sale can be found here. Insiders have sold a total of 14,015 shares of company stock valued at $806,478 over the last 90 days. 0.41% of the stock is currently owned by insiders.

Eversource Energy Stock Up 0.4 %

Shares of ES traded up $0.26 during mid-day trading on Friday, hitting $65.11. 2,230,501 shares of the company’s stock were exchanged, compared to its average volume of 2,543,491. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $68.72. The company has a 50-day simple moving average of $60.79 and a 200 day simple moving average of $59.40. The company has a market cap of $22.94 billion, a PE ratio of -54.97, a P/E/G ratio of 2.53 and a beta of 0.59. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68.

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

Wall Street Analysts Forecast Growth

ES has been the subject of a number of research reports. Wells Fargo & Company raised their price objective on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Morgan Stanley lowered their price objective on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. BMO Capital Markets increased their price objective on shares of Eversource Energy from $69.00 to $73.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Finally, Bank of America upgraded Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 target price on the stock in a report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company. According to MarketBeat, the company 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.