California State Teachers Retirement System Acquires 77,184 Shares of Eversource Energy (NYSE:ES)

California State Teachers Retirement System raised its holdings in shares of Eversource Energy (NYSE:ES) by 10.0% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 847,789 shares of the utilities provider’s stock after purchasing an additional 77,184 shares during the period. California State Teachers Retirement System’s holdings in Eversource Energy were worth $50,672,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Heritage Wealth Advisors purchased a new stake in shares of Eversource Energy during the fourth quarter valued at approximately $25,000. Rise Advisors LLC purchased a new stake in Eversource Energy in the first quarter worth approximately $27,000. Bfsg LLC purchased a new stake in Eversource Energy in the fourth quarter worth approximately $31,000. Versant Capital Management Inc boosted its holdings in Eversource Energy by 62.6% in the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after purchasing an additional 201 shares during the last quarter. Finally, Salem Investment Counselors Inc. boosted its holdings in Eversource Energy by 49.7% in the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 181 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

Shares of NYSE:ES traded up $0.20 on Thursday, reaching $65.11. The company’s stock had a trading volume of 127,507 shares, compared to its average volume of 2,522,946. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $70.49. The company has a market cap of $22.94 billion, a P/E ratio of -54.99, a PEG ratio of 2.53 and a beta of 0.59. The company has a 50-day simple moving average of $59.21 and a 200 day simple moving average of $58.58. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.68 and a current ratio of 0.77.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting analysts’ consensus estimates of $0.95. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. During the same period in the previous year, the company earned $1.00 EPS. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Eversource Energy will post 4.56 EPS for the current fiscal year.

Insider Buying and Selling

In related news, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction dated 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 transaction, the executive vice president now directly owns 10,272 shares of the company’s stock, valued at approximately $603,480. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In other news, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total value of $562,000.00. Following the completion of 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 is available at the SEC website. Also, EVP Penelope M. Conner sold 2,700 shares of the business’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 owns 10,272 shares of the company’s stock, valued at approximately $603,480. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ES. UBS Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $62.00 to $67.00 in a research note on Thursday, April 4th. Morgan Stanley decreased their price objective on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Monday, June 24th. Scotiabank decreased their price objective on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Wells Fargo & Company raised their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday, May 3rd. Finally, The Goldman Sachs Group started coverage on shares of Eversource Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $66.43.

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.