Eversource Energy (NYSE:ES) Shares Sold by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. reduced its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 0.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 426,265 shares of the utilities provider's stock after selling 3,918 shares during the period. PNC Financial Services Group Inc. owned approximately 0.12% of Eversource Energy worth $26,475,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. TIAA Trust National Association increased its position in Eversource Energy by 13.3% during the 1st quarter. TIAA Trust National Association now owns 8,101 shares of the utilities provider's stock valued at $503,000 after buying an additional 948 shares in the last quarter. Blueshift Asset Management LLC increased its holdings in shares of Eversource Energy by 5.0% in the first quarter. Blueshift Asset Management LLC now owns 10,279 shares of the utilities provider's stock valued at $638,000 after purchasing an additional 491 shares during the period. Commerce Bank increased its holdings in shares of Eversource Energy by 1.6% in the first quarter. Commerce Bank now owns 66,342 shares of the utilities provider's stock valued at $4,121,000 after purchasing an additional 1,022 shares during the period. Moors & Cabot Inc. increased its holdings in shares of Eversource Energy by 5.0% in the first quarter. Moors & Cabot Inc. now owns 35,780 shares of the utilities provider's stock valued at $2,222,000 after purchasing an additional 1,714 shares during the period. Finally, Coastal Bridge Advisors LLC acquired a new position in shares of Eversource Energy in the first quarter valued at about $207,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on ES. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $58.00 price objective (down from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. Mizuho increased their price objective on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. BMO Capital Markets increased 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. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, Bank of America increased 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. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus target price of $65.56.

Eversource Energy Stock Up 1.4%

Shares of ES opened at $66.45 on Tuesday. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01. The company has a quick ratio of 0.66, a current ratio of 0.75 and a debt-to-equity ratio of 1.71. The company has a market capitalization of $24.41 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 2.45 and a beta of 0.61. The stock's 50-day moving average price is $64.84 and its 200-day moving average price is $61.73.

Eversource Energy (NYSE:ES - Get Free Report) last issued its 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 firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a return on equity of 11.10% and a net margin of 6.60%. The company's revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 earnings per share. On average, sell-side analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Insider Transactions at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the stock in a transaction that occurred on Tuesday, May 20th. The stock was sold at an average price of $64.00, for a total transaction of $166,400.00. Following the transaction, the executive vice president owned 10,988 shares in the company, valued at approximately $703,232. This represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company's stock.

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.

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