Eversource Energy (NYSE:ES) Shares Sold by Castellan Group

Key Points

• Castellan Group has reduced its stake in Eversource Energy by 15.6%, now holding 52,330 shares worth approximately $3.25 million after selling 9,706 shares in the first quarter.
• Eversource Energy reported earnings of $0.96 per share for the last quarter, slightly beating analyst estimates, but its revenue fell short of expectations at $2.84 billion.
• Analyst ratings on Eversource Energy show mixed opinions, with Mizuho increasing the price target to $72 while others, like JPMorgan, lowered their target to $58.

Castellan Group lowered its stake in Eversource Energy (NYSE:ES - Free Report) by 15.6% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 52,330 shares of the utilities provider's stock after selling 9,706 shares during the period. Castellan Group's holdings in Eversource Energy were worth $3,250,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Commerce Bank raised its holdings in shares of Eversource Energy by 1.6% during the first quarter. Commerce Bank now owns 66,342 shares of the utilities provider's stock worth $4,121,000 after purchasing an additional 1,022 shares during the last quarter. Moors & Cabot Inc. raised its holdings in shares of Eversource Energy by 5.0% during the first quarter. Moors & Cabot Inc. now owns 35,780 shares of the utilities provider's stock worth $2,222,000 after purchasing an additional 1,714 shares during the last quarter. Coastal Bridge Advisors LLC purchased a new position in shares of Eversource Energy during the first quarter worth $207,000. SlateStone Wealth LLC purchased a new position in shares of Eversource Energy during the first quarter worth $671,000. Finally, Howard Capital Management Inc. purchased a new position in shares of Eversource Energy during the first quarter worth $486,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

Analyst Ratings Changes

A number of research firms have weighed in on ES. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $58.00 price objective (down previously from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Mizuho lifted their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Bank of America lifted their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, BMO Capital Markets boosted their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have given a buy rating to the company's stock. Based on data from MarketBeat.com, Eversource Energy presently has a consensus rating of "Hold" and an average target price of $65.56.

Eversource Energy Price Performance

ES traded down $0.60 on Friday, reaching $65.50. 2,841,173 shares of the company's stock were exchanged, compared to its average volume of 1,925,586. The stock has a market cap of $24.06 billion, a PE ratio of 28.11, a P/E/G ratio of 2.45 and a beta of 0.61. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $69.01. The stock's fifty day moving average price is $64.78 and its 200-day moving average price is $61.65. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.75 and a quick ratio of 0.66.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. Eversource Energy had a net margin of 6.60% and a return on equity of 11.10%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the business posted $0.95 EPS. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. Sell-side analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total value of $166,400.00. Following the completion of the transaction, the executive vice president owned 10,988 shares in the company, valued at $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 is available at the SEC website. 0.41% of the stock is currently owned by company insiders.

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.