Panagora Asset Management Inc. Has $4.65 Million Stake in Eversource Energy (NYSE:ES)

Panagora Asset Management Inc. cut its holdings in Eversource Energy (NYSE:ES) by 92.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 82,023 shares of the utilities provider’s stock after selling 978,749 shares during the period. Panagora Asset Management Inc.’s holdings in Eversource Energy were worth $4,652,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of ES. Heritage Wealth Advisors acquired a new stake in Eversource Energy in the 4th quarter valued at about $25,000. Lynx Investment Advisory acquired a new position in Eversource Energy in the 2nd quarter valued at about $25,000. Rise Advisors LLC bought a new stake in Eversource Energy in the 1st quarter valued at $27,000. Versant Capital Management Inc lifted its holdings in shares of Eversource Energy by 62.6% during the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after buying an additional 201 shares in the last quarter. Finally, Salem Investment Counselors Inc. lifted its holdings in shares of Eversource Energy by 49.7% during the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock worth $33,000 after buying an additional 181 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Insider Activity

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

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ES shares. BMO Capital Markets lowered 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 report on Monday, August 19th. Barclays lifted their price target on shares of Eversource Energy from $65.00 to $69.00 and gave the company an “equal weight” rating in a research report on Monday, July 22nd. Wells Fargo & Company increased their price target on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Bank of America lifted their price objective on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a report on Thursday. Finally, Scotiabank increased their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $68.93.

Eversource Energy Price Performance

ES stock traded up $0.87 during trading on Friday, reaching $67.53. 3,534,405 shares of the company were exchanged, compared to its average volume of 2,512,140. The company has a market capitalization of $23.79 billion, a price-to-earnings ratio of -57.23, a P/E/G ratio of 2.53 and a beta of 0.59. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68. The company has a 50-day moving average of $62.20 and a two-hundred day moving average of $60.18. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $68.72.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 EPS for the quarter, meeting analysts’ consensus estimates of $0.95. The company had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. Eversource Energy’s revenue was down 3.7% compared to the same quarter last year. During the same period in the prior year, the company earned $1.00 EPS. As a group, equities analysts predict that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

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.