Mizuho Securities USA LLC Lowers Stake in Eversource Energy (NYSE:ES)

Key Points

• Mizuho Securities USA LLC reduced its holdings in Eversource Energy by 15.4% during the first quarter, leaving it with 29,368 shares valued at approximately $1.82 million.
• In contrast, Covestor Ltd dramatically increased its position by 873.5% in the same period, reflecting significant investor activity surrounding the stock.
• Eversource Energy reported $0.96 EPS for the last quarter, exceeding the consensus estimate slightly, while revenue was down compared to the projected figure.

Mizuho Securities USA LLC cut its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 15.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 29,368 shares of the utilities provider's stock after selling 5,359 shares during the period. Mizuho Securities USA LLC's holdings in Eversource Energy were worth $1,824,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Pinney & Scofield Inc. purchased a new stake in Eversource Energy during the 4th quarter valued at $33,000. Rossby Financial LCC bought a new position in Eversource Energy in the 1st quarter worth $34,000. CoreCap Advisors LLC raised its holdings in 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 period. First Financial Corp IN raised its holdings in Eversource Energy by 3,529.4% during the first quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 600 shares during the period. Finally, Zions Bancorporation National Association UT bought a new stake in Eversource Energy during the first quarter valued at about $46,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the company's 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 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.41% of the company's stock.

Eversource Energy Stock Performance

Shares of ES traded down $0.75 during trading hours on Thursday, reaching $65.55. 2,176,864 shares of the company traded hands, compared to its average volume of 2,699,145. The stock has a market capitalization of $24.33 billion, a P/E ratio of 28.13, a P/E/G ratio of 2.47 and a beta of 0.61. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01. The business has a fifty day moving average price of $65.00 and a 200-day moving average price of $62.09.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data 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. The firm 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 11.00%. The business's quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.95 earnings per share. Equities analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on ES. BMO Capital Markets raised their price target on Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a report on Monday, April 28th. Bank of America lifted their price target on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Wall Street Zen upgraded Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Mizuho lifted their price target on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. 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's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $65.56.

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.