Eversource Energy (NYSE:ES) Shares Sold by TD Asset Management Inc

Key Points

• TD Asset Management Inc significantly reduced its stake in Eversource Energy, selling 226,771 shares to decrease its holdings by 60.9%, leaving it with 145,347 shares valued at about $9,028,000.
• Multiple investors, including Mizuho Bank Ltd. and First Financial Corp IN, have recently acquired new positions in Eversource Energy, indicating increased interest from institutional investors.
• Analysts have mixed ratings for Eversource Energy, with a consensus price target of $65.56, reflecting cautious outlooks from firms such as JPMorgan Chase and upgrades from others like Mizuho and Bank of America.

TD Asset Management Inc lowered its position in Eversource Energy (NYSE:ES - Free Report) by 60.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 145,347 shares of the utilities provider's stock after selling 226,771 shares during the quarter. TD Asset Management Inc's holdings in Eversource Energy were worth $9,028,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Mizuho Bank Ltd. purchased a new stake in shares of Eversource Energy during the fourth quarter valued at $26,000. Pinney & Scofield Inc. bought a new stake in Eversource Energy in the 4th quarter worth approximately $33,000. Rossby Financial LCC purchased a new position in shares of Eversource Energy in the 1st quarter worth approximately $34,000. CoreCap Advisors LLC boosted its holdings in shares of Eversource Energy by 168.7% in the 4th quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock worth $35,000 after purchasing an additional 383 shares during the period. Finally, First Financial Corp IN boosted its holdings in Eversource Energy by 3,529.4% during the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 600 shares during the period. Institutional investors own 79.99% of the company's stock.

Analyst Upgrades and Downgrades

ES has been the subject of a number of research analyst reports. Bank of America lifted their target price on Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. JPMorgan Chase & Co. reaffirmed an "underweight" rating and issued a $58.00 price target (down previously from $69.00) on shares of Eversource Energy in a report 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. Mizuho increased their price objective on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Finally, BMO Capital Markets raised their price target on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research report on Monday, April 28th. Three research analysts have rated the stock with a sell rating, five have given a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $65.56.

Eversource Energy Stock Performance

Shares of ES traded down $0.60 during midday trading on Friday, reaching $65.50. 2,841,173 shares of the stock were exchanged, compared to its average volume of 1,925,586. 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 has a twelve month low of $52.28 and a twelve month high of $69.01. The business's 50-day moving average price is $64.78 and its 200 day moving average price is $61.65. The company has a market capitalization of $24.06 billion, a price-to-earnings ratio of 28.11, a PEG ratio of 2.45 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.01. The company 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 11.10% and a net margin of 6.60%. The firm's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.95 EPS. On average, sell-side analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Insider Activity

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 stock was 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 directly owned 10,988 shares in the company, valued at approximately $703,232. The trade was a 19.13% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 0.41% of the stock is owned by corporate insiders.

Eversource Energy Company 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.