Eversource Energy (NYSE:ES) Stock Position Lowered by TIAA Trust National Association

TIAA Trust National Association lessened its position in Eversource Energy (NYSE:ES) by 8.0% during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 9,362 shares of the utilities provider’s stock after selling 813 shares during the period. TIAA Trust National Association’s holdings in Eversource Energy were worth $531,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Mirae Asset Global Investments Co. Ltd. raised its stake in shares of Eversource Energy by 24.5% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 70,810 shares of the utilities provider’s stock worth $4,232,000 after buying an additional 13,950 shares in the last quarter. Banque Cantonale Vaudoise raised its position in shares of Eversource Energy by 38.3% during the first quarter. Banque Cantonale Vaudoise now owns 56,781 shares of the utilities provider’s stock worth $3,394,000 after purchasing an additional 15,714 shares during the period. Great Oak Capital Partners LLC acquired a new stake in shares of Eversource Energy during the fourth quarter worth $1,047,000. Cibc World Markets Corp raised its position in shares of Eversource Energy by 133.3% during the fourth quarter. Cibc World Markets Corp now owns 44,955 shares of the utilities provider’s stock worth $2,775,000 after purchasing an additional 25,688 shares during the period. Finally, Ethic Inc. raised its position in shares of Eversource Energy by 23.1% during the fourth quarter. Ethic Inc. now owns 164,721 shares of the utilities provider’s stock worth $10,167,000 after purchasing an additional 30,890 shares during the period. Institutional investors own 79.99% of the company’s stock.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of 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 filing with the SEC, which is accessible through this hyperlink. In related news, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction dated Friday, August 9th. The stock was 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 owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Eversource Energy Stock Performance

Shares of NYSE ES opened at $68.05 on Friday. The company has a market capitalization of $23.97 billion, a P/E ratio of -57.67, a price-to-earnings-growth ratio of 2.58 and a beta of 0.59. The business’s 50-day moving average price is $63.43 and its two-hundred day moving average price is $60.61. Eversource Energy has a one year low of $52.03 and a one year high of $69.01. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66.

Eversource Energy (NYSE:ES) last released 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 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 was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.00 EPS. Analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ES. Bank of America boosted their target price on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Wells Fargo & Company lifted their price target on Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. BMO Capital Markets lowered their price target on Eversource Energy from $73.00 to $70.00 and set a “market perform” rating on the stock in a report on Monday, August 19th. StockNews.com downgraded Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Finally, Morgan Stanley lifted their price target on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. One investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $68.93.

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.