Penobscot Investment Management Company Inc. Sells 1,800 Shares of Eversource Energy (NYSE:ES)

Penobscot Investment Management Company Inc. trimmed its position in Eversource Energy (NYSE:ES) by 6.0% during the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 28,172 shares of the utilities provider’s stock after selling 1,800 shares during the period. Penobscot Investment Management Company Inc.’s holdings in Eversource Energy were worth $1,739,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Czech National Bank lifted its stake in shares of Eversource Energy by 0.3% in the 4th quarter. Czech National Bank now owns 61,182 shares of the utilities provider’s stock valued at $3,776,000 after purchasing an additional 168 shares during the period. Pinion Investment Advisors LLC lifted its stake in shares of Eversource Energy by 4.1% in the 3rd quarter. Pinion Investment Advisors LLC now owns 4,955 shares of the utilities provider’s stock valued at $288,000 after purchasing an additional 197 shares during the period. Assetmark Inc. lifted its stake in shares of Eversource Energy by 22.8% in the 3rd quarter. Assetmark Inc. now owns 1,087 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 202 shares during the period. MV Capital Management Inc. lifted its stake in shares of Eversource Energy by 40.4% in the 3rd quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after purchasing an additional 206 shares during the period. Finally, Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its stake in shares of Eversource Energy by 22.1% in the 3rd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 1,217 shares of the utilities provider’s stock valued at $66,000 after purchasing an additional 220 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $60.62 on Wednesday. The firm has a market cap of $21.26 billion, a price-to-earnings ratio of -48.11, a price-to-earnings-growth ratio of 3.22 and a beta of 0.58. The stock’s 50-day moving average is $59.03 and its 200-day moving average is $58.03. Eversource Energy has a one year low of $52.03 and a one year high of $78.64. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). The firm had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3 billion. Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. During the same quarter last year, the firm earned $0.92 earnings per share. Equities analysts predict that Eversource Energy will post 4.51 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ES has been the topic of a number of analyst reports. Wells Fargo & Company increased their price target on Eversource Energy from $67.00 to $69.00 and gave the company an “overweight” rating in a research note on Tuesday, January 9th. The Goldman Sachs Group initiated coverage on Eversource Energy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price target on the stock. Guggenheim raised Eversource Energy from a “neutral” rating to a “buy” rating and increased their price target for the company from $60.00 to $72.00 in a research note on Monday, January 22nd. Mizuho raised Eversource Energy from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $54.00 to $62.00 in a research note on Thursday, February 15th. Finally, Barclays dropped their price objective on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating on the stock in a research note on Monday, January 22nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $65.85.

Insider Activity

In other news, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the sale, the insider now directly owns 21,621 shares in the company, valued at $1,245,369.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now owns 10,485 shares of the company’s stock, valued at $609,388.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

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.