Pacer Advisors Inc. Sells 12,536 Shares of Eversource Energy (NYSE:ES)

Pacer Advisors Inc. lessened its holdings in shares of Eversource Energy (NYSE:ES) by 33.3% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 25,072 shares of the utilities provider’s stock after selling 12,536 shares during the period. Pacer Advisors Inc.’s holdings in Eversource Energy were worth $1,557,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its position in Eversource Energy by 10.7% in the 4th quarter. JPMorgan Chase & Co. now owns 1,569,671 shares of the utilities provider’s stock worth $90,146,000 after purchasing an additional 151,562 shares during the last quarter. Orion Portfolio Solutions LLC bought a new stake in shares of Eversource Energy in the fourth quarter valued at about $246,000. Allstate Corp acquired a new stake in Eversource Energy during the fourth quarter worth about $628,000. B. Metzler seel. Sohn & Co. AG increased its stake in Eversource Energy by 6.1% during the fourth quarter. B. Metzler seel. Sohn & Co. AG now owns 48,459 shares of the utilities provider’s stock valued at $2,783,000 after acquiring an additional 2,800 shares during the period. Finally, Franklin Resources Inc. increased its stake in Eversource Energy by 0.5% during the fourth quarter. Franklin Resources Inc. now owns 2,426,436 shares of the utilities provider’s stock valued at $139,350,000 after acquiring an additional 11,041 shares during the period. Institutional investors own 79.99% of the company’s stock.

Insider Activity

In related news, EVP Penelope M. Conner sold 2,600 shares of the business’s stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the completion of the sale, the executive vice president directly owned 10,988 shares of the company’s stock, valued at $703,232. The trade was a 19.13% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 0.41% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ES. BMO Capital Markets raised their price objective on Eversource Energy from $71.00 to $72.00 and gave the stock a “market perform” rating in a research report on Monday, April 28th. Mizuho upped their target price on Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, June 25th. Bank of America lifted their price target on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. JPMorgan Chase & Co. restated an “underweight” rating and issued a $58.00 price objective (down previously from $69.00) on shares of Eversource Energy in a research note on Thursday, April 10th. Finally, Wall Street Zen raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Friday, May 16th. Three analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and an average price target of $65.56.

Eversource Energy Price Performance

Shares of ES stock opened at $66.00 on Thursday. The stock has a market capitalization of $24.25 billion, a PE ratio of 28.45, a PEG ratio of 2.48 and a beta of 0.62. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.66 and a current ratio of 0.75. The stock’s fifty day moving average is $64.68 and its 200-day moving average is $61.48.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 EPS for the quarter, hitting analysts’ consensus estimates of $1.50. The firm had revenue of $4.12 billion during the quarter, compared to analyst estimates of $3.65 billion. Eversource Energy had a return on equity of 11.04% and a net margin of 6.63%. The company’s revenue was up 23.6% on a year-over-year basis. During the same period last year, the company earned $1.49 earnings per share. Equities research analysts expect that Eversource Energy will post 4.75 EPS 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.