Forsta AP Fonden Acquires 7,300 Shares of Eversource Energy (NYSE:ES)

Key Points

• Forsta AP Fonden increased its stake in Eversource Energy by 7.7% to a total of 102,300 shares, valued at approximately $6.35 million.
• Multiple brokerages recently raised their price targets for Eversource Energy, with a consensus target price now set at $65.56 and a general rating of "Hold."
• Eversource Energy reported earnings of $0.96 per share for the last quarter, exceeding estimates of $0.95, with year-over-year revenue growth of 12%.

Forsta AP Fonden boosted its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 7.7% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 102,300 shares of the utilities provider's stock after buying an additional 7,300 shares during the quarter. Forsta AP Fonden's holdings in Eversource Energy were worth $6,354,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Ballentine Partners LLC boosted its position in Eversource Energy by 4.9% during the first quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider's stock worth $369,000 after purchasing an additional 277 shares during the period. Farther Finance Advisors LLC boosted its position in Eversource Energy by 105.6% during the first quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider's stock worth $287,000 after purchasing an additional 2,374 shares during the period. LSV Asset Management purchased a new stake in shares of Eversource Energy in the fourth quarter worth about $2,223,000. Golden State Wealth Management LLC lifted its holdings in shares of Eversource Energy by 233.9% in the first quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider's stock worth $52,000 after buying an additional 580 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its holdings in shares of Eversource Energy by 14.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,402 shares of the utilities provider's stock worth $4,124,000 after buying an additional 8,616 shares in the last quarter. Institutional investors own 79.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on ES shares. Bank of America increased their price target on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. BMO Capital Markets increased their price target 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 increased their price target 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, Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Three analysts have rated the stock with a sell rating, five have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus 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 on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total value of $166,400.00. Following the transaction, the executive vice president directly owned 10,988 shares of the company's stock, valued at $703,232. The trade was a 19.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is currently owned by insiders.

Eversource Energy Trading Down 1.1%

Shares of ES traded down $0.75 during mid-day trading on Thursday, reaching $65.55. The company's stock had a trading volume of 1,630,171 shares, compared to its average volume of 2,693,236. The stock has a market cap of $24.33 billion, a PE ratio of 28.13, a P/E/G ratio of 2.47 and a beta of 0.61. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01. The company's fifty day moving average price is $65.00 and its two-hundred day moving average price is $62.09.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) 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 analyst estimates of $3.01 billion. During the same period in the prior year, the business posted $0.95 earnings per share. The company's revenue was up 12.0% on a year-over-year basis. On average, analysts predict that Eversource Energy will post 4.75 earnings per share 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.