Thurston Springer Miller Herd & Titak Inc. Makes New Investment in Eversource Energy (NYSE:ES)

Thurston Springer Miller Herd & Titak Inc. purchased a new stake in shares of Eversource Energy (NYSE:ES) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 1,106 shares of the utilities provider’s stock, valued at approximately $63,000.

Other institutional investors have also made changes to their positions in the company. Heritage Wealth Advisors bought a new stake in shares of Eversource Energy during the fourth quarter valued at approximately $25,000. Rise Advisors LLC bought a new stake in Eversource Energy in the first quarter valued at about $27,000. Bfsg LLC bought a new position in shares of Eversource Energy during the fourth quarter worth about $31,000. Versant Capital Management Inc boosted its position in Eversource Energy by 62.6% during the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock valued at $31,000 after purchasing an additional 201 shares during the last quarter. Finally, Salem Investment Counselors Inc. lifted its position in shares of Eversource Energy by 49.7% in the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after buying an additional 181 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eversource Energy

In related news, EVP Penelope M. Conner sold 2,700 shares of the company’s stock in a transaction that occurred on Friday, May 31st. The stock was sold at an average price of $58.75, for a total value of $158,625.00. Following the sale, the executive vice president now owns 10,272 shares of the company’s stock, valued at approximately $603,480. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total transaction of $562,000.00. Following the transaction, the vice president now owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Penelope M. Conner sold 2,700 shares of the firm’s stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the transaction, the executive vice president now directly owns 10,272 shares in the company, valued at approximately $603,480. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Eversource Energy Stock Performance

NYSE ES traded up $0.70 on Wednesday, hitting $66.19. 129,282 shares of the company’s stock were exchanged, compared to its average volume of 2,524,227. 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 firm’s 50-day moving average price is $59.90 and its two-hundred day moving average price is $58.91. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $68.72. The firm has a market cap of $23.32 billion, a price-to-earnings ratio of -55.52, a P/E/G ratio of 2.53 and a beta of 0.59.

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, hitting 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 positive return on equity of 10.34% and a negative net margin of 0.81%. The company’s revenue was down 3.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.00 EPS. On average, research analysts expect that Eversource Energy will post 4.56 EPS for the current year.

Analysts Set New Price Targets

ES has been the subject of several recent research reports. StockNews.com cut Eversource Energy from a “hold” rating to a “sell” rating in a research note on Saturday, July 27th. The Goldman Sachs Group started coverage on Eversource Energy in a research note on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price objective for the company. Morgan Stanley decreased their target price on Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating for the company in a research report on Monday, June 24th. Barclays lifted their price target on Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research note on Monday, July 22nd. Finally, Scotiabank reduced their price target on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $67.43.

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.