Penelope M. Conner Sells 815 Shares of Eversource Energy (NYSE:ES) Stock

Eversource Energy (NYSE:ES) EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares in the company, valued at approximately $591,596. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Eversource Energy Price Performance

Shares of ES stock traded up $0.79 during trading hours on Wednesday, hitting $66.54. 1,286,786 shares of the company’s stock were exchanged, compared to its average volume of 2,530,681. Eversource Energy has a 52 week low of $52.03 and a 52 week high of $68.72. The stock has a market cap of $23.44 billion, a price-to-earnings ratio of -55.72, a price-to-earnings-growth 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. The stock’s 50-day moving average is $60.53 and its 200-day moving average is $59.32.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate 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 firm’s quarterly revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.00 EPS. As a group, research analysts forecast that Eversource Energy will post 4.56 EPS for the current year.

Institutional Trading of Eversource Energy

Hedge funds have recently modified their holdings of the stock. Charles Schwab Investment Management Inc. raised its holdings in Eversource Energy by 4.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 7,650,143 shares of the utilities provider’s stock worth $448,567,000 after purchasing an additional 353,171 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake in shares of Eversource Energy by 65.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after buying an additional 1,524,341 shares during the last quarter. Public Sector Pension Investment Board raised its stake in shares of Eversource Energy by 0.6% during the second quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock worth $191,979,000 after buying an additional 20,207 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Eversource Energy by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock valued at $177,823,000 after buying an additional 354,429 shares during the period. Finally, Magellan Asset Management Ltd boosted its stake in Eversource Energy by 5.4% in the fourth quarter. Magellan Asset Management Ltd now owns 3,067,091 shares of the utilities provider’s stock valued at $189,301,000 after acquiring an additional 156,534 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on ES. Wells Fargo & Company lifted their target price on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research report on Friday, August 2nd. Scotiabank decreased 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. Morgan Stanley dropped their target price on Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. Barclays boosted their price target on Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Finally, StockNews.com cut Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday, July 27th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.