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

A number of other large investors have also recently modified their holdings of the business. Pinney & Scofield Inc. bought a new stake in Eversource Energy in the fourth quarter valued at approximately $33,000. Rossby Financial LCC purchased a new position in shares of Eversource Energy in the first quarter valued at about $34,000. CoreCap Advisors LLC raised its stake 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 valued at $35,000 after acquiring an additional 383 shares during the last quarter. First Financial Corp IN boosted 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 period. Finally, Quarry LP grew its stake in shares of Eversource Energy by 207.4% in the fourth quarter. Quarry LP now owns 833 shares of the utilities provider's stock worth $48,000 after purchasing an additional 562 shares during the last quarter. Institutional investors own 79.99% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on ES shares. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $58.00 target price (down previously from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Mizuho upped their price objective 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. BMO Capital Markets upped their price target on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Bank of America upped their price target on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Three 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.com, 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 the stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the sale, the executive vice president directly owned 10,988 shares of the company's stock, valued at approximately $703,232. This represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.41% of the stock is owned by corporate insiders.

Eversource Energy Stock Down 0.6%

Shares of Eversource Energy stock traded down $0.41 during trading on Wednesday, hitting $65.47. 1,850,249 shares of the stock traded hands, compared to its average volume of 2,047,445. The company has a current ratio of 0.71, a quick ratio of 0.66 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 stock's fifty day simple moving average is $64.86 and its 200 day simple moving average is $61.76. The firm has a market cap of $24.05 billion, a P/E ratio of 28.10, a price-to-earnings-growth ratio of 2.46 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.95 EPS. On average, equities analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

About Eversource Energy

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.