Insider Selling: Eversource Energy (NYSE:ES) EVP Sells 815 Shares of Stock

Eversource Energy (NYSE:ES) EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction that occurred 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 directly owns 9,032 shares of the company’s stock, valued at approximately $591,596. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Eversource Energy Stock Performance

Eversource Energy stock traded up $0.79 during mid-day trading on Wednesday, reaching $66.54. 1,286,786 shares of the company’s stock were exchanged, compared to its average volume of 2,530,681. The business’s fifty day simple moving average is $60.53 and its 200 day simple moving average is $59.32. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71. Eversource Energy has a one year low of $52.03 and a one year high of $68.72. The firm has a market capitalization of $23.44 billion, a PE ratio of -55.72, a P/E/G ratio of 2.53 and a beta of 0.59.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The company had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. During the same period in the previous year, the firm earned $1.00 EPS. The firm’s quarterly revenue was down 3.7% on a year-over-year basis. On average, sell-side analysts expect that Eversource Energy will post 4.56 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. ClearBridge Investments Ltd purchased a new position in Eversource Energy in the first quarter valued at approximately $156,093,000. Norges Bank bought a new stake in shares of Eversource Energy in the fourth quarter valued at $149,906,000. Zimmer Partners LP lifted its position in shares of Eversource Energy by 730.4% during the 1st quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock valued at $151,642,000 after buying an additional 2,231,585 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp grew its stake in shares of Eversource Energy by 65.0% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after acquiring an additional 1,524,341 shares during the period. Finally, M&G Plc purchased a new stake in Eversource Energy in the 1st quarter worth about $83,539,000. 79.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have weighed in on ES. Barclays lifted their price target on shares of Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a research note on Monday, July 22nd. Bank of America raised Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 price target on the stock in a research note on Tuesday, June 25th. Morgan Stanley reduced their price objective on Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. StockNews.com cut Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Finally, Wells Fargo & Company boosted their price target on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and a consensus target price 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.