CIBC Asset Management Inc Has $2.70 Million Stock Position in Eversource Energy (NYSE:ES)

CIBC Asset Management Inc decreased its stake in Eversource Energy (NYSE:ES - Free Report) by 19.2% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 47,564 shares of the utilities provider's stock after selling 11,266 shares during the quarter. CIBC Asset Management Inc's holdings in Eversource Energy were worth $2,697,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of ES. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Eversource Energy by 65.0% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider's stock worth $227,929,000 after buying an additional 1,524,341 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in Eversource Energy by 12.7% during the 2nd quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider's stock valued at $177,823,000 after purchasing an additional 354,429 shares in the last quarter. Magellan Asset Management Ltd raised its position in Eversource Energy by 5.4% in the 4th quarter. Magellan Asset Management Ltd now owns 3,067,091 shares of the utilities provider's stock valued at $189,301,000 after purchasing an additional 156,534 shares during the last quarter. ClearBridge Investments Ltd acquired a new position in Eversource Energy in the first quarter worth $156,093,000. Finally, Zimmer Partners LP grew its holdings in shares of Eversource Energy by 730.4% during the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider's stock worth $151,642,000 after purchasing an additional 2,231,585 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ES shares. Barclays lifted their price target on Eversource Energy from $65.00 to $69.00 and gave the company an "equal weight" rating in a report on Monday, July 22nd. BMO Capital Markets decreased 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 research note on Monday, August 19th. Morgan Stanley raised their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the company an "equal weight" rating in a report on Friday, August 23rd. Wells Fargo & Company upped their price objective on Eversource Energy from $72.00 to $79.00 and gave the stock an "overweight" rating in a report on Friday, August 2nd. Finally, StockNews.com cut Eversource Energy from a "hold" rating to a "sell" rating in a research note on Saturday, July 27th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $68.93.

Insider Buying and Selling

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

Eversource Energy Trading Down 1.0 %

Shares of ES stock traded down $0.66 on Friday, reaching $67.39. The company had a trading volume of 1,104,569 shares, compared to its average volume of 2,486,525. The stock has a market cap of $23.74 billion, a PE ratio of -57.11, a PEG ratio of 2.58 and a beta of 0.59. The company has a 50-day moving average of $63.64 and a 200-day moving average of $60.67. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $69.01.

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

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.