Eversource Energy (ES) Insider Thomas J. May Sells 200,000 Shares
Eversource Energy (NYSE:ES) insider Thomas J. May sold 200,000 shares of the stock in a transaction that occurred on Monday, November 28th. The shares were sold at an average price of $53.80, for a total value of $10,760,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Shares of Eversource Energy (NYSE:ES) traded down 3.96% during midday trading on Wednesday, hitting $51.62. The stock had a trading volume of 2,733,872 shares. Eversource Energy has a 12-month low of $48.18 and a 12-month high of $60.44. The stock has a market cap of $16.36 billion, a P/E ratio of 18.37 and a beta of 0.31. The stock has a 50-day moving average price of $53.26 and a 200-day moving average price of $55.42.
Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, November 2nd. The company reported $0.83 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.03. Eversource Energy had a return on equity of 8.61% and a net margin of 11.85%. The firm had revenue of $2.04 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same quarter in the prior year, the company earned $0.75 EPS. Eversource Energy’s revenue was up 5.5% on a year-over-year basis. Equities analysts forecast that Eversource Energy will post $2.98 earnings per share for the current year.
Large investors have recently bought and sold shares of the stock. Mycio Wealth Partners LLC raised its position in shares of Eversource Energy by 100.0% in the second quarter. Mycio Wealth Partners LLC now owns 1,770 shares of the company’s stock worth $106,000 after buying an additional 885 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its position in shares of Eversource Energy by 167.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,901 shares of the company’s stock worth $113,000 after buying an additional 1,189 shares in the last quarter. WFG Advisors LP raised its position in shares of Eversource Energy by 7.8% in the second quarter. WFG Advisors LP now owns 1,994 shares of the company’s stock worth $119,000 after buying an additional 145 shares in the last quarter. Bellwether Investment Group LLC acquired a new position in shares of Eversource Energy during the second quarter worth $132,000. Finally, SevenBridge Financial Group LLC acquired a new position in shares of Eversource Energy during the second quarter worth $138,000. 68.85% of the stock is currently owned by hedge funds and other institutional investors.
Several equities research analysts recently commented on ES shares. Williams Capital reaffirmed a “buy” rating on shares of Eversource Energy in a report on Friday, September 2nd. Zacks Investment Research cut Eversource Energy from a “hold” rating to a “sell” rating in a report on Thursday, September 15th. Citigroup Inc. cut their price target on Eversource Energy from $61.00 to $54.00 and set a “neutral” rating for the company in a report on Tuesday, October 4th. Barclays PLC cut their price target on Eversource Energy from $65.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, October 4th. Finally, Argus reaffirmed a “buy” rating and issued a $59.00 price target (down previously from $64.00) on shares of Eversource Energy in a report on Wednesday, October 12th. Six equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $59.67.
Eversource Energy Company Profile
Eversource Energy, formerly Northeast Utilities, is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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