BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 71,948 Shares of Eversource Energy (NYSE:ES)

BNP PARIBAS ASSET MANAGEMENT Holding S.A. lessened its stake in shares of Eversource Energy (NYSE:ES) by 37.7% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 118,953 shares of the utilities provider’s stock after selling 71,948 shares during the period. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in Eversource Energy were worth $6,746,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ES. Victory Capital Management Inc. boosted its position in shares of Eversource Energy by 3.7% during the 4th quarter. Victory Capital Management Inc. now owns 466,489 shares of the utilities provider’s stock valued at $28,792,000 after acquiring an additional 16,482 shares during the last quarter. New York Life Investment Management LLC increased its position in Eversource Energy by 0.7% during the fourth quarter. New York Life Investment Management LLC now owns 54,373 shares of the utilities provider’s stock valued at $3,356,000 after acquiring an additional 356 shares during the last quarter. First Trust Direct Indexing L.P. purchased a new stake in shares of Eversource Energy in the fourth quarter valued at $280,000. Natixis Advisors L.P. lifted its holdings in shares of Eversource Energy by 66.9% in the 4th quarter. Natixis Advisors L.P. now owns 287,058 shares of the utilities provider’s stock worth $17,717,000 after acquiring an additional 115,041 shares during the last quarter. Finally, Los Angeles Capital Management LLC boosted its stake in shares of Eversource Energy by 51.0% during the 4th quarter. Los Angeles Capital Management LLC now owns 182,844 shares of the utilities provider’s stock worth $11,285,000 after purchasing an additional 61,732 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Trading Up 1.3 %

ES opened at $67.53 on Friday. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $68.72. The stock has a fifty day moving average price of $62.59 and a 200-day moving average price of $60.31. The firm has a market cap of $23.79 billion, a price-to-earnings ratio of -57.23, a PEG ratio of 2.53 and a beta of 0.59. The company has a current ratio of 0.77, a quick ratio of 0.68 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. The business had revenue of $2.53 billion for 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 company’s revenue was down 3.7% compared to the same quarter last year. During the same period last year, the business earned $1.00 EPS. As a group, equities research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on ES. Barclays raised their price objective on shares of Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Scotiabank upped their price objective on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research report on Tuesday, August 20th. Bank of America lifted their target price on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday. StockNews.com downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. Finally, Morgan Stanley lifted their price objective 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. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, Eversource Energy has an average rating of “Hold” and an average target price of $68.93.

About Eversource Energy

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.