BNP Paribas Financial Markets Trims Holdings in Eversource Energy $ES

Key Points

• BNP Paribas Financial Markets reduced its stake in Eversource Energy by 5.5%, now holding 899,352 shares, valued at approximately $55.86 million.
• In related news, insider Loretta D. Keane purchased 3,780 shares at an average price of $66.07, marking a 45.80% increase in her position.
• Eversource Energy reported a $0.96 EPS for the last quarter, slightly surpassing estimates, with revenues of $2.84 billion for the period.

BNP Paribas Financial Markets lowered its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 5.5% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 899,352 shares of the utilities provider's stock after selling 52,029 shares during the period. BNP Paribas Financial Markets owned approximately 0.24% of Eversource Energy worth $55,859,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Pinney & Scofield Inc. bought a new position in Eversource Energy in the fourth quarter worth approximately $33,000. Rossby Financial LCC bought a new position in Eversource Energy in the first quarter worth approximately $34,000. CoreCap Advisors LLC boosted its holdings in Eversource Energy by 168.7% in the fourth quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock worth $35,000 after acquiring an additional 383 shares in the last quarter. First Financial Corp IN boosted its holdings in Eversource Energy by 3,529.4% in the first quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock worth $38,000 after acquiring an additional 600 shares in the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in Eversource Energy in the first quarter worth approximately $46,000. Institutional investors and hedge funds own 79.99% of the company's stock.

Eversource Energy Stock Performance

Eversource Energy stock traded down $0.02 during mid-day trading on Thursday, reaching $63.28. 851,646 shares of the company's stock were exchanged, compared to its average volume of 2,667,251. The business's fifty day simple moving average is $65.15 and its 200 day simple moving average is $62.66. The firm has a market capitalization of $23.48 billion, a PE ratio of 27.15, a P/E/G ratio of 2.41 and a beta of 0.64. Eversource Energy has a one year low of $52.28 and a one year high of $69.01. 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 (NYSE:ES - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.Eversource Energy's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company posted $0.95 earnings per share. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Loretta D. Keane bought 3,780 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was acquired at an average cost of $66.07 per share, with a total value of $249,744.60. Following the completion of the transaction, the insider directly owned 12,033 shares of the company's stock, valued at $795,020.31. This represents a 45.80% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

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

About Eversource Energy

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.