Heritage Trust Co Acquires 12,974 Shares of Eversource Energy (NYSE:ES)

Key Points

• Heritage Trust Co increased its ownership in Eversource Energy by 49%, now holding a total of 39,444 shares valued at approximately $2.45 million.
• Eversource Energy reported quarterly earnings of $0.96 per share, exceeding analysts' estimates, despite revenue of $2.84 billion falling short of expectations.
• Wall Street analysts have varied opinions on Eversource Energy's stock, with a consensus rating of "Hold" and price target estimates ranging between $58 and $72.

Heritage Trust Co increased its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 49.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 39,444 shares of the utilities provider's stock after buying an additional 12,974 shares during the period. Heritage Trust Co's holdings in Eversource Energy were worth $2,450,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Mizuho Bank Ltd. acquired a new stake in Eversource Energy during the 4th quarter worth $26,000. Pinney & Scofield Inc. acquired a new stake in shares of Eversource Energy in the 4th quarter worth $33,000. Rossby Financial LCC acquired a new stake in shares of Eversource Energy in the 1st quarter worth $34,000. CoreCap Advisors LLC lifted its stake 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 acquiring an additional 383 shares during the period. Finally, First Financial Corp IN lifted its stake in shares of Eversource Energy by 3,529.4% in the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock worth $38,000 after acquiring an additional 600 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on ES shares. Bank of America raised their price objective 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. 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 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 lifted 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, JPMorgan Chase & Co. restated an "underweight" rating and issued a $58.00 target price (down from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. 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 company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $65.56.

Eversource Energy Trading Down 0.6%

ES stock traded down $0.40 during mid-day trading on Tuesday, reaching $66.06. 292,686 shares of the stock traded hands, compared to its average volume of 2,727,452. The stock's fifty day moving average is $64.84 and its 200-day moving average is $61.73. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.71. The company has a market cap of $24.27 billion, a P/E ratio of 28.40, a P/E/G ratio of 2.45 and a beta of 0.61. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS 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 net margin of 6.60% and a return on equity of 11.10%. The company's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm posted $0.95 earnings per share. As a group, sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Insider Transactions at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the company's 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 transaction, the executive vice president directly owned 10,988 shares in the company, valued at approximately $703,232. This represents a 19.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Eversource Energy 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.