Eversource Energy (NYSE:ES) Stake Lowered by Aigen Investment Management LP

Key Points

• Aigen Investment Management LP has reduced its holdings in Eversource Energy by 61.9% in the first quarter, now owning 14,537 shares worth approximately $903,000.
• Other institutional investors have increased their stakes, with Covestor Ltd raising its holdings by 873.5%, showing a significant trend in institutional investment activity.
• Eversource Energy's stock has seen positive earnings, reporting $0.96 EPS for the quarter, surpassing the expected $0.95 EPS, despite revenues falling short of forecasts.

Aigen Investment Management LP cut its position in Eversource Energy (NYSE:ES - Free Report) by 61.9% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 14,537 shares of the utilities provider's stock after selling 23,585 shares during the quarter. Aigen Investment Management LP's holdings in Eversource Energy were worth $903,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in ES. Pinney & Scofield Inc. acquired a new stake in shares of Eversource Energy in the 4th quarter valued at about $33,000. Rossby Financial LCC acquired a new stake in shares of Eversource Energy in the 1st quarter valued at about $34,000. CoreCap Advisors LLC raised its stake in Eversource Energy by 168.7% during the 4th quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 383 shares during the last quarter. First Financial Corp IN lifted its position in Eversource Energy by 3,529.4% during the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock worth $38,000 after acquiring an additional 600 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new stake in Eversource Energy during the 1st quarter worth approximately $46,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,600 shares of the business's stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the transaction, the executive vice president owned 10,988 shares in the company, valued at approximately $703,232. The trade was a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Bank of America increased their price objective on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Mizuho raised their price target on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, BMO Capital Markets raised their price target on Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a report on Monday, April 28th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $65.56.

Eversource Energy Trading Up 0.7%

Shares of NYSE:ES traded up $0.45 during midday trading on Wednesday, reaching $66.27. The company's stock had a trading volume of 1,432,263 shares, compared to its average volume of 2,100,906. The firm has a market cap of $24.59 billion, a price-to-earnings ratio of 28.44, a price-to-earnings-growth ratio of 2.47 and a beta of 0.61. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The business has a 50 day moving average price of $64.97 and a 200 day moving average price of $62.06.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.01. The firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.95 earnings per share. Research analysts forecast that Eversource Energy will post 4.75 EPS 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.