Eversource Energy (NYSE:ES) Shares Sold by IndexIQ Advisors LLC

IndexIQ Advisors LLC cut its position in Eversource Energy (NYSE:ESGet Rating) by 14.6% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,760 shares of the utilities provider’s stock after selling 981 shares during the period. IndexIQ Advisors LLC’s holdings in Eversource Energy were worth $508,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of ES. BlackRock Inc. increased its holdings in shares of Eversource Energy by 19.3% in the fourth quarter. BlackRock Inc. now owns 39,646,912 shares of the utilities provider’s stock valued at $3,607,077,000 after purchasing an additional 6,402,262 shares during the period. Nordea Investment Management AB grew its holdings in Eversource Energy by 1,746.9% during the first quarter. Nordea Investment Management AB now owns 4,002,400 shares of the utilities provider’s stock worth $355,813,000 after acquiring an additional 3,785,686 shares during the period. Public Sector Pension Investment Board grew its holdings in Eversource Energy by 356.0% during the fourth quarter. Public Sector Pension Investment Board now owns 2,889,176 shares of the utilities provider’s stock worth $262,857,000 after acquiring an additional 2,255,575 shares during the period. Norges Bank acquired a new stake in Eversource Energy during the fourth quarter worth about $197,480,000. Finally, Victory Capital Management Inc. grew its holdings in Eversource Energy by 250.5% during the first quarter. Victory Capital Management Inc. now owns 604,301 shares of the utilities provider’s stock worth $52,816,000 after acquiring an additional 431,886 shares during the period. 80.74% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. Wells Fargo & Company increased their price target on Eversource Energy from $92.00 to $97.00 in a research report on Thursday, May 5th. Morgan Stanley decreased their target price on Eversource Energy from $97.00 to $94.00 and set an “equal weight” rating on the stock in a research report on Monday, May 23rd. Credit Suisse Group assumed coverage on Eversource Energy in a research report on Tuesday, April 26th. They issued a “neutral” rating and a $92.00 target price on the stock. Wolfe Research upgraded Eversource Energy from a “peer perform” rating to an “outperform” rating and set a $96.00 target price on the stock in a research report on Monday, August 1st. Finally, Barclays reduced their price objective on Eversource Energy from $97.00 to $89.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average price target of $91.20.

Insiders Place Their Bets

In other news, VP Jay S. Buth sold 650 shares of Eversource Energy stock in a transaction on Wednesday, June 1st. The stock was sold at an average price of $92.55, for a total value of $60,157.50. Following the completion of the sale, the vice president now directly owns 17,516 shares of the company’s stock, valued at $1,621,105.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Frederica M. Williams sold 1,859 shares of Eversource Energy stock in a transaction on Monday, May 9th. The stock was sold at an average price of $90.84, for a total value of $168,871.56. Following the completion of the sale, the insider now directly owns 20,286 shares of the company’s stock, valued at $1,842,780.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Jay S. Buth sold 650 shares of Eversource Energy stock in a transaction on Wednesday, June 1st. The shares were sold at an average price of $92.55, for a total value of $60,157.50. Following the completion of the sale, the vice president now directly owns 17,516 shares of the company’s stock, valued at $1,621,105.80. The disclosure for this sale can be found here. Insiders sold a total of 6,509 shares of company stock valued at $596,029 over the last quarter. 0.38% of the stock is owned by insiders.

Eversource Energy Price Performance

ES stock opened at $90.38 on Friday. The business has a fifty day moving average of $85.60 and a two-hundred day moving average of $86.77. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 1.21. The stock has a market cap of $31.17 billion, a price-to-earnings ratio of 23.60, a price-to-earnings-growth ratio of 3.54 and a beta of 0.45. Eversource Energy has a 52-week low of $77.07 and a 52-week high of $94.63.

Eversource Energy (NYSE:ESGet Rating) last posted its earnings results on Wednesday, May 4th. The utilities provider reported $1.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.22 by $0.08. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $2.89 billion. Eversource Energy had a return on equity of 9.66% and a net margin of 12.06%. The firm’s quarterly revenue was up 22.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.15 earnings per share. As a group, research analysts anticipate that Eversource Energy will post 4.11 earnings per share for the current year.

Eversource Energy Profile

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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.

See Also

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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