Eversource Energy (NYSE:ES) Shares Purchased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in Eversource Energy (NYSE:ES - Free Report) by 12.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 3,135,652 shares of the utilities provider's stock after purchasing an additional 354,429 shares during the quarter. Bank of New York Mellon Corp owned about 0.89% of Eversource Energy worth $177,823,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Easterly Investment Partners LLC boosted its holdings in Eversource Energy by 2.3% during the second quarter. Easterly Investment Partners LLC now owns 180,648 shares of the utilities provider's stock worth $10,245,000 after purchasing an additional 4,054 shares during the last quarter. Northcape Wealth Management LLC boosted its holdings in Eversource Energy by 0.8% during the second quarter. Northcape Wealth Management LLC now owns 29,951 shares of the utilities provider's stock worth $1,699,000 after purchasing an additional 244 shares during the last quarter. Spirit of America Management Corp NY boosted its holdings in Eversource Energy by 16.3% during the second quarter. Spirit of America Management Corp NY now owns 9,650 shares of the utilities provider's stock worth $547,000 after purchasing an additional 1,350 shares during the last quarter. Retirement Systems of Alabama boosted its holdings in Eversource Energy by 0.8% during the second quarter. Retirement Systems of Alabama now owns 77,704 shares of the utilities provider's stock worth $4,407,000 after purchasing an additional 603 shares during the last quarter. Finally, Slagle Financial LLC purchased a new position in Eversource Energy during the second quarter worth about $3,792,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Price Performance

NYSE:ES traded up $0.19 during mid-day trading on Monday, hitting $66.97. 1,406,045 shares of the stock traded hands, compared to its average volume of 2,527,367. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $68.72. The company has a market cap of $23.59 billion, a PE ratio of -56.75, a price-to-earnings-growth ratio of 2.53 and a beta of 0.59. The business's 50-day moving average price is $61.86 and its 200 day moving average price is $60.06.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS 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 business had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.90 billion. During the same quarter in the previous year, the company earned $1.00 EPS. The business's quarterly revenue was down 3.7% compared to the same quarter last year. On average, analysts expect that Eversource Energy will post 4.56 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, EVP Penelope M. Conner sold 815 shares of the company's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the sale, the executive vice president now owns 9,032 shares of the company's stock, valued at approximately $591,596. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Penelope M. Conner sold 500 shares of the company's stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the sale, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Penelope M. Conner sold 815 shares of the company's stock in a transaction on Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total transaction of $53,382.50. Following the sale, the executive vice president now owns 9,032 shares of the company's stock, valued at $591,596. The disclosure for this sale can be found here. Insiders sold a total of 14,015 shares of company stock valued at $806,478 in the last quarter. Corporate insiders own 0.41% of the company's stock.

Analysts Set New Price Targets

ES has been the topic of several analyst reports. BMO Capital Markets cut their price target on shares of Eversource Energy from $73.00 to $70.00 and set a "market perform" rating on the stock in a report on Monday, August 19th. Scotiabank boosted their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the stock a "sector perform" rating in a report on Tuesday, August 20th. StockNews.com lowered shares of Eversource Energy from a "hold" rating to a "sell" rating in a research report on Saturday, July 27th. Morgan Stanley lifted their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an "equal weight" rating in a research report on Friday. Finally, Bank of America raised shares of Eversource Energy from an "underperform" rating to a "neutral" rating and set a $61.00 price objective on the stock in a research report on Tuesday, June 25th. One analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $68.43.

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.