Panagora Asset Management Inc. Lowers Stock Position in Eversource Energy (NYSE:ES)

Panagora Asset Management Inc. lowered its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 92.3% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 82,023 shares of the utilities provider's stock after selling 978,749 shares during the quarter. Panagora Asset Management Inc.'s holdings in Eversource Energy were worth $4,652,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in Eversource Energy during the fourth quarter valued at approximately $98,360,000. Kestra Private Wealth Services LLC raised its position in Eversource Energy by 44.4% in the 4th quarter. Kestra Private Wealth Services LLC now owns 25,589 shares of the utilities provider's stock worth $1,579,000 after purchasing an additional 7,864 shares during the period. Cozad Asset Management Inc. bought a new stake in Eversource Energy in the fourth quarter worth $212,000. Hexagon Capital Partners LLC lifted its stake in Eversource Energy by 84.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 596 shares of the utilities provider's stock worth $37,000 after purchasing an additional 272 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its position in Eversource Energy by 3.7% during the fourth quarter. Victory Capital Management Inc. now owns 466,489 shares of the utilities provider's stock valued at $28,792,000 after buying an additional 16,482 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Scotiabank boosted their target price on Eversource Energy from $57.00 to $66.00 and gave the company a "sector perform" rating in a research note on Tuesday, August 20th. Wells Fargo & Company boosted their price objective on Eversource Energy from $72.00 to $79.00 and gave the company an "overweight" rating in a research report on Friday, August 2nd. StockNews.com cut shares of Eversource Energy from a "hold" rating to a "sell" rating in a report on Saturday, July 27th. Bank of America upped their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Morgan Stanley raised their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an "equal weight" rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $68.93.

Eversource Energy Stock Up 1.3 %

Eversource Energy stock traded up $0.87 during trading hours on Friday, hitting $67.53. 3,534,399 shares of the stock traded hands, compared to its average volume of 2,512,578. Eversource Energy has a one year low of $52.03 and a one year high of $68.72. The firm's 50-day moving average price is $62.38 and its two-hundred day moving average price is $60.23. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71. The company has a market cap of $23.79 billion, a PE ratio of -57.23, a PEG ratio of 2.53 and a beta of 0.59.

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

Insider Activity

In related news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the completion of the transaction, the executive vice president now directly owns 9,847 shares in the company, valued at approximately $639,464.18. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the sale, the executive vice president now directly owns 9,847 shares of the company's stock, valued at $639,464.18. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Penelope M. Conner sold 815 shares of the stock in a transaction dated 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 directly owns 9,032 shares in the company, valued at $591,596. The disclosure for this sale can be found here. Company insiders own 0.41% of the company's stock.

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.