Whittier Trust Co. of Nevada Inc. Has $90,000 Stake in Eversource Energy (NYSE:ES)

Whittier Trust Co. of Nevada Inc. reduced its stake in shares of Eversource Energy (NYSE:ES) by 63.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,583 shares of the utilities provider’s stock after selling 2,723 shares during the quarter. Whittier Trust Co. of Nevada Inc.’s holdings in Eversource Energy were worth $90,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. ClearBridge Investments Ltd acquired a new position in Eversource Energy in the first quarter valued at about $156,093,000. Norges Bank bought a new stake in Eversource Energy during the 4th quarter worth about $149,906,000. Zimmer Partners LP raised its position in shares of Eversource Energy by 730.4% during the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after purchasing an additional 2,231,585 shares during the period. Mitsubishi UFJ Trust & Banking Corp lifted its position in shares of Eversource Energy by 65.0% in 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 purchasing an additional 1,524,341 shares in the last quarter. Finally, M&G Plc acquired a new stake in shares of Eversource Energy in the first quarter valued at about $83,539,000. 79.99% of the stock is owned by institutional investors.

Eversource Energy Stock Performance

Shares of ES stock traded down $0.46 during trading hours on Thursday, hitting $66.58. 339,789 shares of the company were exchanged, compared to its average volume of 2,501,529. The firm has a fifty day simple moving average of $62.02 and a 200 day simple moving average of $60.14. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $68.72. The stock has a market capitalization of $23.45 billion, a price-to-earnings ratio of -56.31, a P/E/G ratio of 2.53 and a beta of 0.59. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last posted its 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 business had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.90 billion. During the same quarter in the prior year, the firm posted $1.00 EPS. Eversource Energy’s revenue was down 3.7% on a year-over-year basis. Research analysts predict that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, EVP Penelope M. Conner sold 500 shares of Eversource Energy 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 sale, the executive vice president now owns 9,847 shares in the company, valued at approximately $639,464.18. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the business’s stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the sale, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at $639,464.18. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Penelope M. Conner sold 815 shares of Eversource Energy stock in a transaction that occurred on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the sale, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 4,015 shares of company stock worth $244,478. Corporate insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on the stock. StockNews.com lowered shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Bank of America upped their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday. Morgan Stanley boosted their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. BMO Capital Markets cut their target price on Eversource Energy from $73.00 to $70.00 and set a “market perform” rating for the company in a research note on Monday, August 19th. Finally, Scotiabank lifted their price target on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $68.93.

Eversource Energy 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.