J. Safra Sarasin Holding AG Makes New $422,000 Investment in Eversource Energy (NYSE:ES)

Key Points

• J. Safra Sarasin Holding AG has acquired **6,802 shares** of Eversource Energy, valued at approximately **$422,000**, marking a new investment in the utilities provider.
• Recent trading showed Eversource Energy shares at **$65.92**, with a market cap of **$24.22 billion** and a price-to-earnings ratio of **28.29**.
• Analysts have varying opinions on Eversource Energy's stock, with a consensus **'Hold' rating** and a target price averaging **$65.56**.

J. Safra Sarasin Holding AG purchased a new stake in shares of Eversource Energy (NYSE:ES - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 6,802 shares of the utilities provider's stock, valued at approximately $422,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Pinney & Scofield Inc. acquired a new stake in Eversource Energy during the fourth quarter worth about $33,000. Rossby Financial LCC bought a new stake in shares of Eversource Energy during the first quarter valued at approximately $34,000. CoreCap Advisors LLC raised its stake in shares of Eversource Energy by 168.7% in the fourth quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 383 shares in the last quarter. First Financial Corp IN raised its stake in shares of Eversource Energy by 3,529.4% in the first quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 600 shares in the last quarter. Finally, Quarry LP boosted its stake in Eversource Energy by 207.4% during the fourth quarter. Quarry LP now owns 833 shares of the utilities provider's stock worth $48,000 after buying an additional 562 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Price Performance

ES traded down $1.27 during midday trading on Friday, hitting $64.66. The company had a trading volume of 757,993 shares, compared to its average volume of 2,710,701. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $69.01. The company has a market capitalization of $24.00 billion, a PE ratio of 27.75, a P/E/G ratio of 2.45 and a beta of 0.61. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.66 and a current ratio of 0.71. The firm's 50-day simple moving average is $64.94 and its 200-day simple moving average is $61.84.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results 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. 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 quarter last year, the business posted $0.95 earnings per share. Eversource Energy's revenue for the quarter was up 12.0% compared to the same quarter last year. Equities research analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of 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 set a $58.00 price objective (down 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. BMO Capital Markets raised their target price 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. Finally, Mizuho increased their price objective on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, Eversource Energy presently has a consensus 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 stock was sold at an average price of $64.00, for a total value of $166,400.00. Following the completion of the sale, the executive vice president directly owned 10,988 shares in the company, valued at $703,232. This trade represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.41% of the stock is currently owned by corporate 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.