Cetera Investment Advisers Grows Position in Eversource Energy (NYSE:ES)

Key Points

• Cetera Investment Advisers increased its stake in Eversource Energy by 16.4% during the first quarter, owning a total of 113,127 shares worth approximately $7 million.
• JPMorgan Chase & Co. has downgraded Eversource Energy's target price from $69.00 to $58.00, while Mizuho raised it to $72.00, indicating mixed analyst sentiments surrounding the stock.
• Eversource Energy's latest earnings report showed a 12% year-over-year revenue growth with earnings per share of $0.96, slightly exceeding analysts' estimates of $0.95.

Cetera Investment Advisers increased its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 16.4% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 113,127 shares of the utilities provider's stock after purchasing an additional 15,939 shares during the quarter. Cetera Investment Advisers' holdings in Eversource Energy were worth $7,026,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of ES. Mizuho Bank Ltd. acquired a new position in Eversource Energy in the 4th quarter worth about $26,000. Pinney & Scofield Inc. acquired a new stake in shares of Eversource Energy in the fourth quarter valued at $33,000. Rossby Financial LCC acquired a new stake in Eversource Energy in the first quarter valued at $34,000. CoreCap Advisors LLC grew its holdings in shares of Eversource Energy by 168.7% during the fourth 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 last quarter. Finally, First Financial Corp IN grew its holdings in shares of Eversource Energy by 3,529.4% during the first quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock worth $38,000 after purchasing an additional 600 shares during the last quarter. Institutional investors own 79.99% of the company's stock.

Analyst Upgrades and Downgrades

ES has been the subject of a number of analyst reports. 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 research report on Thursday, April 10th. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. BMO Capital Markets lifted their target price 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. Mizuho lifted their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Finally, Bank of America raised their price target on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average price target of $65.56.

Insider Transactions at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy stock in a transaction dated Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the completion of the sale, the executive vice president owned 10,988 shares in the company, valued at $703,232. This trade represents a 19.13% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Eversource Energy Stock Down 0.2%

Eversource Energy stock traded down $0.14 during mid-day trading on Wednesday, reaching $65.75. The stock had a trading volume of 597,653 shares, compared to its average volume of 2,721,901. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.75 and a quick ratio of 0.66. The company has a market capitalization of $24.15 billion, a price-to-earnings ratio of 28.22, a PEG ratio of 2.48 and a beta of 0.61. The company has a 50-day moving average price of $64.86 and a two-hundred day moving average price of $61.76. Eversource Energy has a one year low of $52.28 and a one year high of $69.01.

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 (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.10%. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.95 EPS. On average, analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

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.