APG Asset Management N.V. Has $11.32 Million Stake in Eversource Energy $ES

Key Points

• APG Asset Management N.V. has reduced its position in Eversource Energy by 25.5%, selling 67,408 shares to now own 196,800 shares valued at approximately $11.31 million.
• Despite this decrease, other hedge funds are increasing their stakes in Eversource, with Cromwell Holdings LLC growing its position by 44.2% during the same period.
• Eversource Energy's stock has recently been trading down 4.6%, with an earnings report showing a beat on EPS estimates, but revenue fell short of expectations.

APG Asset Management N.V. cut its position in shares of Eversource Energy (NYSE:ES - Free Report) by 25.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 196,800 shares of the utilities provider's stock after selling 67,408 shares during the quarter. APG Asset Management N.V. owned 0.05% of Eversource Energy worth $11,316,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. bought a new position in Eversource Energy during the fourth quarter worth $33,000. Rossby Financial LCC acquired a new stake in Eversource Energy in the first quarter worth $34,000. CoreCap Advisors LLC grew its position in Eversource Energy by 168.7% in the 4th quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock valued at $35,000 after buying an additional 383 shares in the last quarter. First Financial Corp IN grew its position in Eversource Energy by 3,529.4% in the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock valued at $38,000 after buying an additional 600 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in Eversource Energy in the 1st quarter valued at about $46,000. 79.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was purchased at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the transaction, the insider owned 12,033 shares of the company's stock, valued at $795,020.31. The trade was a 45.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.41% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ES. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Bank of America lifted their target price on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Mizuho lifted their target price on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Eversource Energy has an average rating of "Hold" and a consensus target price of $64.38.

Eversource Energy Trading Down 0.3%

Shares of NYSE:ES traded down $0.22 during midday trading on Friday, reaching $64.09. The company had a trading volume of 1,740,715 shares, compared to its average volume of 2,688,541. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $69.01. The firm has a market cap of $23.78 billion, a price-to-earnings ratio of 27.50, a price-to-earnings-growth ratio of 2.44 and a beta of 0.61. The company has a fifty day simple moving average of $65.09 and a two-hundred day simple moving average of $62.60.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.01. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the company posted $0.95 EPS. Eversource Energy's revenue for the quarter was up 12.0% on a year-over-year basis. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Research analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

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.