Citigroup Inc. Buys 85,322 Shares of Eversource Energy (NYSE:ES)

Citigroup Inc. raised its stake in Eversource Energy (NYSE:ES - Free Report) by 29.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 370,798 shares of the utilities provider's stock after acquiring an additional 85,322 shares during the quarter. Citigroup Inc. owned approximately 0.10% of Eversource Energy worth $23,030,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Swiss National Bank increased its holdings in Eversource Energy by 2.4% in the 1st quarter. Swiss National Bank now owns 1,033,333 shares of the utilities provider's stock worth $64,180,000 after acquiring an additional 23,800 shares during the last quarter. Flagship Wealth Advisors LLC lifted its position in Eversource Energy by 45.1% in the first quarter. Flagship Wealth Advisors LLC now owns 1,441 shares of the utilities provider's stock valued at $90,000 after purchasing an additional 448 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Eversource Energy by 39.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 762,875 shares of the utilities provider's stock valued at $47,382,000 after acquiring an additional 214,017 shares in the last quarter. Y.D. More Investments Ltd raised its holdings in shares of Eversource Energy by 13.8% during the first quarter. Y.D. More Investments Ltd now owns 2,362 shares of the utilities provider's stock valued at $147,000 after acquiring an additional 286 shares in the last quarter. Finally, Maryland State Retirement & Pension System raised its holdings in Eversource Energy by 1.9% in the first quarter. Maryland State Retirement & Pension System now owns 327,788 shares of the utilities provider's stock worth $20,359,000 after purchasing an additional 6,114 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Insiders Place Their Bets

In other 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 completion of the sale, the executive vice president owned 10,988 shares of the company's stock, valued at approximately $703,232. The trade was a 19.13% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.41% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ES. Wall Street Zen upgraded Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Mizuho raised 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. Bank of America raised their price objective on Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, BMO Capital Markets raised their price objective 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 equities 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. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $65.56.

Eversource Energy Price Performance

ES traded down $0.75 during midday trading on Thursday, reaching $65.55. 2,176,864 shares of the company's stock were exchanged, compared to its average volume of 2,074,375. The firm has a market capitalization of $24.33 billion, a price-to-earnings ratio of 28.13, a price-to-earnings-growth ratio of 2.49 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 one year low of $52.28 and a one year high of $69.01. The business has a 50-day simple moving average of $65.00 and a two-hundred day simple moving average of $62.09.

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

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.