Investors Sell Shares of Eversource Energy (ES) on Strength (ES)

Investors sold shares of Eversource Energy (NYSE:ES) on strength during trading hours on Thursday. $30.86 million flowed into the stock on the tick-up and $42.11 million flowed out of the stock on the tick-down, for a money net flow of $11.25 million out of the stock. Of all companies tracked, Eversource Energy had the 19th highest net out-flow for the day. Eversource Energy traded up $0.49 for the day and closed at $62.22

A number of research firms have issued reports on ES. Barclays PLC reiterated an “equal weight” rating and issued a $66.00 target price (up from $62.00) on shares of Eversource Energy in a research note on Thursday, June 1st. BidaskClub cut Eversource Energy from a “hold” rating to a “sell” rating in a research note on Wednesday, July 12th. Credit Suisse Group reiterated a “hold” rating and issued a $59.00 target price on shares of Eversource Energy in a research note on Tuesday, June 6th. Morgan Stanley raised their target price on Eversource Energy from $64.00 to $66.00 and gave the company an “equal weight” rating in a research note on Thursday. Finally, Zacks Investment Research raised Eversource Energy from a “hold” rating to a “buy” rating and set a $70.00 price target on the stock in a report on Tuesday, June 13th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $62.95.

The company has a market cap of $19.72 billion, a PE ratio of 20.14 and a beta of 0.28. The firm has a 50-day moving average price of $60.98 and a 200 day moving average price of $59.55.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.68 by $0.04. The business had revenue of $1.76 billion for 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%. The firm’s revenue for the quarter was down .2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.64 earnings per share. Equities analysts expect that Eversource Energy will post $3.15 earnings per share for the current fiscal year.

In related news, VP Werner J. Schweiger sold 48,544 shares of the company’s stock in a transaction dated Tuesday, May 23rd. The stock was sold at an average price of $61.01, for a total value of $2,961,669.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.53% of the company’s stock.

A number of large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Eversource Energy by 1.6% in the second quarter. BlackRock Inc. now owns 24,355,049 shares of the utilities provider’s stock worth $1,478,596,000 after buying an additional 374,229 shares in the last quarter. Norinchukin Bank The increased its stake in Eversource Energy by 6.8% in the second quarter. Norinchukin Bank The now owns 21,991 shares of the utilities provider’s stock worth $1,335,000 after buying an additional 1,399 shares in the last quarter. TIAA CREF Investment Management LLC increased its stake in Eversource Energy by 11.9% in the second quarter. TIAA CREF Investment Management LLC now owns 940,224 shares of the utilities provider’s stock worth $57,081,000 after buying an additional 100,334 shares in the last quarter. Teachers Advisors LLC increased its stake in Eversource Energy by 15.2% in the second quarter. Teachers Advisors LLC now owns 676,373 shares of the utilities provider’s stock worth $41,063,000 after buying an additional 89,355 shares in the last quarter. Finally, Raymond James Trust N.A. bought a new stake in Eversource Energy during the second quarter worth approximately $201,000. Institutional investors and hedge funds own 71.03% of the company’s stock.

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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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