Penobscot Investment Management Company Inc. Has $3.88 Million Position in Eversource Energy (ES)
Penobscot Investment Management Company Inc. increased its stake in shares of Eversource Energy (NYSE:ES) by 4.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 63,979 shares of the utilities provider’s stock after buying an additional 2,520 shares during the period. Eversource Energy makes up approximately 1.2% of Penobscot Investment Management Company Inc.’s investment portfolio, making the stock its 25th largest position. Penobscot Investment Management Company Inc.’s holdings in Eversource Energy were worth $3,884,000 at the end of the most recent quarter.
A number of other large investors also recently modified their holdings of the stock. North Point Portfolio Managers Corp OH acquired a new stake in Eversource Energy during the first quarter valued at $202,000. ST Germain D J Co. Inc. acquired a new stake in Eversource Energy during the first quarter valued at $213,000. Korea Investment CORP boosted its stake in Eversource Energy by 4,476.7% in the first quarter. Korea Investment CORP now owns 17,117 shares of the utilities provider’s stock valued at $1,006,000 after buying an additional 16,743 shares during the period. UMB Bank N A MO acquired a new stake in Eversource Energy during the first quarter valued at $209,000. Finally, BTIM Corp. boosted its stake in Eversource Energy by 3.4% in the first quarter. BTIM Corp. now owns 578,721 shares of the utilities provider’s stock valued at $34,017,000 after buying an additional 18,838 shares during the period. Institutional investors own 71.31% of the company’s stock.
Eversource Energy (NYSE:ES) opened at 62.46 on Friday. The stock has a 50 day moving average price of $61.02 and a 200 day moving average price of $59.83. The company has a market cap of $19.79 billion, a price-to-earnings ratio of 20.21 and a beta of 0.28. Eversource Energy has a 12 month low of $50.56 and a 12 month high of $63.34.
Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.68 by $0.04. The firm had revenue of $1.76 billion during the quarter, compared to analyst estimates of $1.91 billion. Eversource Energy had a return on equity of 9.15% and a net margin of 12.81%. Eversource Energy’s quarterly revenue was down .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.64 earnings per share. Analysts anticipate that Eversource Energy will post $3.15 earnings per share for the current fiscal year.
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ES has been the subject of several research analyst reports. Zacks Investment Research upgraded Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 price objective for the company in a report on Wednesday, June 21st. Janney Montgomery Scott set a $71.00 price objective on Eversource Energy and gave the stock a “buy” rating in a report on Monday, July 31st. Barclays PLC reiterated an “equal weight” rating and issued a $66.00 price objective (up previously from $62.00) on shares of Eversource Energy in a report on Thursday, June 1st. Morgan Stanley increased their price objective on Eversource Energy from $63.00 to $64.00 and gave the stock an “equal weight” rating in a report on Tuesday, June 6th. Finally, Deutsche Bank AG cut Eversource Energy from a “buy” rating to a “hold” rating and increased their price objective for the stock from $61.00 to $61.50 in a report on Monday, July 31st. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $62.95.
In related news, VP Werner J. Schweiger sold 36,736 shares of the business’s stock in a transaction that occurred on Wednesday, May 31st. The stock was sold at an average price of $62.00, for a total value of $2,277,632.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.53% of the stock is currently owned by insiders.
Eversource Energy Company Profile
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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