Eversource Energy (NYSE:ES) Shares Sold by Prudential PLC

Key Points

• Prudential PLC has reduced its stake in Eversource Energy by 20.4%, selling 31,012 shares, which now leaves them with a total of 120,661 shares valued at approximately $7.49 million.
• Wall Street analysts have a mixed outlook on Eversource Energy, with the stock rated as a "hold" on average and a consensus price target of $65.56.
• Eversource Energy reported a quarterly EPS of $0.96, exceeding analysts' expectations slightly, but revenue was below estimates at $2.84 billion.

Prudential PLC decreased its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 20.4% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 120,661 shares of the utilities provider's stock after selling 31,012 shares during the quarter. Prudential PLC's holdings in Eversource Energy were worth $7,494,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Pinney & Scofield Inc. purchased a new stake in Eversource Energy during the fourth quarter valued at approximately $33,000. Rossby Financial LCC purchased a new stake in Eversource Energy during the first quarter valued at approximately $34,000. CoreCap Advisors LLC raised its position 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 purchasing an additional 383 shares during the period. First Financial Corp IN raised its position 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 purchasing an additional 600 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new stake in Eversource Energy during the first quarter valued at approximately $46,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Trading Down 1.1%

Shares of NYSE ES traded down $0.75 during midday trading on Thursday, hitting $65.55. The company's stock had a trading volume of 2,176,864 shares, compared to its average volume of 2,074,375. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. The business's 50 day moving average is $65.01 and its two-hundred day moving average is $62.14. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01. The firm has a market cap of $24.33 billion, a P/E ratio of 28.13, a price-to-earnings-growth ratio of 2.49 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. The company had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%. Eversource Energy's quarterly revenue was up 12.0% on a year-over-year basis. During the same period last year, the business posted $0.95 EPS. As a group, equities research analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the company. Wall Street Zen upgraded Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. BMO Capital Markets upped their price objective on Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. Bank of America upped their price objective on Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Finally, Mizuho increased their price target on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Three research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $65.56.

Insider Buying and Selling

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the firm's stock in a transaction on Tuesday, May 20th. The stock was 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 $703,232. This trade represents a 19.13% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.41% of the stock is owned by insiders.

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.