Sumitomo Mitsui Trust Holdings Inc. Has $45.83 Million Stock Position in Eversource Energy (NYSE:ES)

Sumitomo Mitsui Trust Holdings Inc. cut its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 8.1% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 808,060 shares of the utilities provider's stock after selling 70,908 shares during the period. Sumitomo Mitsui Trust Holdings Inc. owned approximately 0.23% of Eversource Energy worth $45,825,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Heritage Wealth Advisors purchased a new position in shares of Eversource Energy in the 4th quarter worth $25,000. Lynx Investment Advisory acquired a new position in Eversource Energy in the second quarter worth about $25,000. Rise Advisors LLC acquired a new position in Eversource Energy in the first quarter worth about $27,000. Bfsg LLC acquired a new position in Eversource Energy in the fourth quarter valued at approximately $31,000. Finally, Versant Capital Management Inc boosted its stake in Eversource Energy by 62.6% in the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider's stock valued at $31,000 after acquiring an additional 201 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Stock Performance

Shares of NYSE ES traded up $0.73 during mid-day trading on Monday, reaching $65.84. 2,722,188 shares of the company were exchanged, compared to its average volume of 2,544,616. The company's 50-day simple moving average is $60.92 and its 200-day simple moving average is $59.54. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71. The stock has a market capitalization of $23.19 billion, a P/E ratio of -55.64, a P/E/G ratio of 2.53 and a beta of 0.59. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $68.72.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting analysts' consensus estimates of $0.95. Eversource Energy had a negative net margin of 0.81% and a positive return on equity of 10.34%. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.90 billion. During the same quarter in the prior year, the firm posted $1.00 EPS. The firm's quarterly revenue was down 3.7% on a year-over-year basis. As a group, research analysts predict that Eversource Energy will post 4.56 earnings per share for the current year.

Analysts Set New Price Targets

ES has been the topic of a number of recent analyst reports. BMO Capital Markets cut their price target on Eversource Energy from $73.00 to $70.00 and set a "market perform" rating on the stock in a report on Monday. Wells Fargo & Company upped their price target on Eversource Energy from $72.00 to $79.00 and gave the company an "overweight" rating in a report on Friday, August 2nd. Morgan Stanley lowered their price objective on shares of Eversource Energy from $70.00 to $67.00 and set an "equal weight" rating on the stock in a research report on Monday, June 24th. Scotiabank lowered their price objective on shares of Eversource Energy from $61.00 to $57.00 and set a "sector perform" rating on the stock in a research report on Monday, April 22nd. Finally, Barclays boosted their price target on shares of Eversource Energy from $65.00 to $69.00 and gave the company an "equal weight" rating in a report on Monday, July 22nd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and an average target price of $67.21.

Insider Buying and Selling at Eversource Energy

In other news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total value of $562,000.00. Following the completion of the sale, the vice president now owns 63,808 shares in the company, valued at $3,586,009.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction that occurred on Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the sale, the executive vice president now directly owns 10,272 shares in the company, valued at $603,480. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, VP Gregory B. Butler sold 10,000 shares of the business's stock in a transaction that occurred on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the sale, the vice president now owns 63,808 shares of the company's stock, valued at $3,586,009.60. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,015 shares of company stock valued at $806,478. Corporate insiders own 0.41% of the company's stock.

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.