First PREMIER Bank Sells 1,721 Shares of Eversource Energy (NYSE:ES)

First PREMIER Bank trimmed its holdings in shares of Eversource Energy (NYSE:ES) by 7.1% in the second quarter, HoldingsChannel reports. The institutional investor owned 22,585 shares of the utilities provider’s stock after selling 1,721 shares during the quarter. First PREMIER Bank’s holdings in Eversource Energy were worth $1,281,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Charles Schwab Investment Management Inc. raised its stake in shares of Eversource Energy by 4.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 7,650,143 shares of the utilities provider’s stock worth $448,567,000 after buying an additional 353,171 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its stake 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 worth $227,929,000 after buying an additional 1,524,341 shares during the last quarter. Magellan Asset Management Ltd raised its stake in shares of Eversource Energy by 5.4% during the fourth quarter. Magellan Asset Management Ltd now owns 3,067,091 shares of the utilities provider’s stock worth $189,301,000 after buying an additional 156,534 shares during the last quarter. ClearBridge Investments Ltd bought a new stake in shares of Eversource Energy during the first quarter worth approximately $156,093,000. Finally, Zimmer Partners LP raised its stake 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 buying an additional 2,231,585 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

Eversource Energy Stock Down 2.4 %

Shares of Eversource Energy stock traded down $1.58 on Thursday, hitting $64.87. The company had a trading volume of 3,628,329 shares, compared to its average volume of 2,545,239. The firm has a market capitalization of $22.85 billion, a P/E ratio of -54.97, a P/E/G ratio of 2.53 and a beta of 0.59. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $68.72. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68. The stock has a 50-day moving average of $60.79 and a 200-day moving average of $59.40.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, hitting the consensus estimate 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 during the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter in the prior year, the company posted $1.00 earnings per share. The firm’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 year.

Insider Buying and Selling

In related news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction 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 completion of 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 2,700 shares of the company’s stock in a transaction 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 sale, the executive vice president now directly owns 10,272 shares of the company’s stock, valued at $603,480. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Gregory B. Butler sold 10,000 shares of the company’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the sale, the vice president now directly owns 63,808 shares in the company, valued at $3,586,009.60. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 14,015 shares of company stock worth $806,478. 0.41% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Bank of America upgraded shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 price objective for the company in a report on Tuesday, June 25th. Scotiabank decreased their price objective on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday, April 22nd. Morgan Stanley decreased their price objective on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating for the company in a report on Monday, June 24th. BMO Capital Markets boosted their price objective on shares of Eversource Energy from $69.00 to $73.00 and gave the company a “market perform” rating in a report on Monday, August 5th. Finally, Wells Fargo & Company boosted their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a report on Friday, August 2nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to data from MarketBeat, Eversource Energy has a consensus rating of “Hold” and a consensus price target 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.