Eversource Insiders Sell $882,539 in Coordinated Trading Week
Four insiders at Eversource Energy (NYSE: ES) sold a combined 17,981 shares worth $882,539 in a concentrated burst of trading activity between February 16 and February 23, according to SEC filings.
The Trades
The largest transaction came from Executive Vice President and CFO John M. Moreira, who sold 7,800 shares at $73.90 per share on February 19, netting $576,420. This single sale accounted for 65% of the total dollar value traded during the week.
The selling cluster began on February 17 when director Frederica M. Williams sold 2,581 shares at $73.32, raising $189,239. The activity continued February 18 with director Linda Dorcena Forry's sale of 1,600 shares at $73.05 for proceeds of $116,880.
Director John Y. Kim rounded out the selling on February 19 with a disposal of 6,000 shares, though the exact price for this transaction was not immediately available in the filing.
All disclosed sales occurred within a tight price range between $73.05 and $73.90 per share, suggesting relatively stable market conditions during the trading window. The average sale price across the documented transactions was approximately $73.42.
Who's Trading
The sellers represent a mix of executive leadership and board members. CFO John Moreira's participation stands out given his role overseeing the company's financial operations and his insider knowledge of quarterly performance. As EVP, CFO and Treasurer, Moreira has direct visibility into Eversource's financial health and strategic initiatives.
Three independent directors also participated in the selling: Frederica Williams, Linda Dorcena Forry, and John Kim. When multiple board members sell simultaneously, it often reflects coordinated trading plans or shared perspectives on valuation.
Notably absent from the selling activity were Chairman and CEO Joseph R. Nolan Jr. and other senior executives including COO Paul Chodak III and General Counsel Gregory Butler. These executives received equity awards on January 27 and participated in tax-related share withholdings on February 12 at $70.22 per share, but did not engage in open market sales during the February 16-23 window.
What to Watch
The concentrated selling activity comes as Eversource shares trade near $73, representing a modest premium to the $70.22 price used for tax withholdings just days earlier on February 12. This 4.4% price appreciation in less than a week may have triggered predetermined trading plans.
The timing is significant as utility stocks have faced pressure from rising interest rates, which increase borrowing costs for capital-intensive utilities while making dividend yields less attractive relative to bonds. Eversource, New England's largest energy delivery company, relies heavily on debt financing for infrastructure investments.
The coordinated nature of the sales — four insiders selling within a seven-day window — suggests these transactions may be part of pre-arranged 10b5-1 trading plans rather than discretionary trades based on material non-public information. Such plans allow insiders to sell shares on a predetermined schedule regardless of market conditions.
Investors should monitor whether this selling pattern continues in coming weeks. Extended insider selling, particularly if it expands to include the CEO and other senior executives who currently hold their positions, could signal concerns about near-term business prospects or simply reflect portfolio diversification needs.
For context, Eversource serves approximately 4 million customers across Connecticut, Massachusetts, and New Hampshire. The company has been navigating regulatory challenges and investing heavily in grid modernization and renewable energy infrastructure, factors that influence both its capital needs and growth trajectory.
*Source: SEC Form 4 filings*
*StockCliff Research*