Swedbank AB Acquires Shares of 534,179 Eversource Energy (NYSE:ES)

Swedbank AB acquired a new stake in Eversource Energy (NYSE:ES) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 534,179 shares of the utilities provider’s stock, valued at approximately $31,928,000.

A number of other hedge funds have also recently modified their holdings of ES. ClearBridge Investments Ltd purchased a new position in shares of Eversource Energy in the first quarter valued at about $156,093,000. Norges Bank purchased a new position in shares of Eversource Energy during the fourth quarter valued at about $149,906,000. Zimmer Partners LP increased 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 valued at $151,642,000 after buying an additional 2,231,585 shares during the period. Mitsubishi UFJ Trust & Banking Corp increased its position in shares of Eversource Energy by 65.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock valued at $227,929,000 after buying an additional 1,524,341 shares during the period. Finally, M&G Plc purchased a new position in shares of Eversource Energy during the first quarter valued at about $83,539,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the transaction, the executive vice president now owns 10,272 shares in the company, valued at $603,480. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction that occurred on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the transaction, the vice president now owns 63,808 shares in the company, valued at $3,586,009.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Penelope M. Conner sold 2,700 shares of the stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the transaction, the executive vice president now owns 10,272 shares in the company, valued at approximately $603,480. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Scotiabank reduced their price target on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research report on Monday, April 22nd. Barclays boosted 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 report on Monday, July 22nd. 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 report on Friday. Morgan Stanley dropped their price objective on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating on the stock in a research note on Monday, June 24th. Finally, BMO Capital Markets boosted their price objective on shares of Eversource Energy from $65.00 to $66.00 and gave the stock a “market perform” rating in a research note on Friday, May 3rd. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $66.93.

Eversource Energy Stock Performance

Shares of NYSE ES opened at $67.12 on Friday. The firm’s 50 day moving average price is $59.57 and its 200-day moving average price is $58.71. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $69.47. 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 issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.95. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The business’s revenue was down 3.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.00 earnings per share. On average, research analysts forecast that Eversource Energy will post 4.56 earnings per share for the current year.

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.