Mesirow Financial Investment Management Inc. Purchases 8,944 Shares of Eversource Energy (NYSE:ES)

Key Points

• Mesirow Financial Investment Management Inc. increased its stake in Eversource Energy by 100.7%, acquiring an additional 8,944 shares, bringing its total holdings to 17,826 shares worth $1,107,000.
• Insider selling occurred as EVP Penelope M. Conner sold 2,600 shares for $166,400, reducing their position by 19.13% to 10,988 shares.
• Analysts have set a new consensus price target for Eversource Energy at $65.56, with three sell ratings, five hold ratings, and three buy ratings issued by various research analysts.

Mesirow Financial Investment Management Inc. increased its stake in Eversource Energy (NYSE:ES - Free Report) by 100.7% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 17,826 shares of the utilities provider's stock after buying an additional 8,944 shares during the period. Mesirow Financial Investment Management Inc.'s holdings in Eversource Energy were worth $1,107,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. increased its position in Eversource Energy by 10.7% in the fourth quarter. JPMorgan Chase & Co. now owns 1,569,671 shares of the utilities provider's stock worth $90,146,000 after buying an additional 151,562 shares during the period. Orion Portfolio Solutions LLC bought a new position in shares of Eversource Energy during the fourth quarter worth about $246,000. Franklin Resources Inc. increased its holdings in shares of Eversource Energy by 0.5% in the 4th quarter. Franklin Resources Inc. now owns 2,426,436 shares of the utilities provider's stock worth $139,350,000 after acquiring an additional 11,041 shares during the period. Nemes Rush Group LLC increased its holdings in shares of Eversource Energy by 816.0% in the 4th quarter. Nemes Rush Group LLC now owns 1,200 shares of the utilities provider's stock worth $69,000 after acquiring an additional 1,069 shares during the period. Finally, Geode Capital Management LLC lifted its position in Eversource Energy by 5.7% in the 4th quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider's stock valued at $547,550,000 after purchasing an additional 517,042 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the stock in a transaction 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 completion of the transaction, the executive vice president directly owned 10,988 shares in the company, valued at $703,232. This represents a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

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

Eversource Energy Stock Down 0.9%

NYSE:ES traded down $0.60 during trading hours on Friday, reaching $65.50. The company's stock had a trading volume of 2,841,173 shares, compared to its average volume of 1,925,586. Eversource Energy has a one year low of $52.28 and a one year high of $69.01. The business's 50-day moving average is $64.78 and its 200-day moving average is $61.65. The company has a market cap of $24.06 billion, a price-to-earnings ratio of 28.11, a price-to-earnings-growth ratio of 2.45 and a beta of 0.61. 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 posted its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates 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 for the quarter was up 12.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.95 EPS. Equities 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.