Legal & General Group Plc lifted its position in Eversource Energy (NYSE:ES – Free Report) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 5,088,500 shares of the utilities provider’s stock after purchasing an additional 63,466 shares during the quarter. Legal & General Group Plc owned about 1.36% of Eversource Energy worth $361,996,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Eversource Energy in the 2nd quarter valued at approximately $274,744,000. Lazard Asset Management LLC raised its position in shares of Eversource Energy by 43,905.7% during the 2nd quarter. Lazard Asset Management LLC now owns 2,692,707 shares of the utilities provider’s stock valued at $171,309,000 after buying an additional 2,686,588 shares during the period. LSV Asset Management raised its position in shares of Eversource Energy by 331.5% during the 3rd quarter. LSV Asset Management now owns 1,566,577 shares of the utilities provider’s stock valued at $111,446,000 after buying an additional 1,203,563 shares during the period. Vanguard Group Inc. lifted its holdings in Eversource Energy by 2.5% in the third quarter. Vanguard Group Inc. now owns 46,814,369 shares of the utilities provider’s stock valued at $3,330,374,000 after acquiring an additional 1,161,708 shares during the last quarter. Finally, Covalis Capital LLP acquired a new position in Eversource Energy in the second quarter valued at approximately $71,377,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.
Insider Activity at Eversource Energy
In other Eversource Energy news, insider Cotton M. Cleveland sold 2,581 shares of Eversource Energy stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $74.87, for a total value of $193,239.47. Following the completion of the transaction, the insider directly owned 79,364 shares of the company’s stock, valued at $5,941,982.68. The trade was a 3.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP John M. Moreira sold 7,800 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $73.90, for a total transaction of $576,420.00. Following the sale, the executive vice president owned 43,269 shares in the company, valued at $3,197,579.10. This trade represents a 15.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 16,381 shares of company stock worth $1,211,079 in the last three months. 0.41% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several equities research analysts have issued reports on ES shares. Janney Montgomery Scott raised Eversource Energy from a «neutral» rating to a «buy» rating and set a $79.00 target price for the company in a research note on Monday, November 24th. BMO Capital Markets increased their price target on Eversource Energy from $75.00 to $79.00 and gave the stock a «market perform» rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. cut their price objective on Eversource Energy from $72.00 to $71.00 and set an «underweight» rating for the company in a research report on Friday, December 12th. Scotiabank reduced their price objective on shares of Eversource Energy from $64.00 to $63.00 and set a «sector underperform» rating on the stock in a report on Thursday, November 20th. Finally, Weiss Ratings reaffirmed a «hold (c+)» rating on shares of Eversource Energy in a research report on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, Eversource Energy currently has an average rating of «Hold» and a consensus target price of $73.90.
Read Our Latest Report on Eversource Energy
Eversource Energy Stock Up 0.5%
Shares of NYSE ES opened at $73.99 on Thursday. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.66. The business’s 50 day moving average is $70.91 and its two-hundred day moving average is $69.53. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $76.41. The firm has a market cap of $27.78 billion, a price-to-earnings ratio of 16.19, a PEG ratio of 3.18 and a beta of 0.76.
Eversource Energy (NYSE:ES – Get Free Report) last released its quarterly earnings results on Thursday, February 12th. The utilities provider reported $1.12 EPS for the quarter, topping the consensus estimate of $1.10 by $0.02. Eversource Energy had a return on equity of 11.18% and a net margin of 12.49%.The business had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the business posted $1.01 earnings per share. The company’s quarterly revenue was up 13.4% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. Research analysts predict that Eversource Energy will post 4.75 EPS for the current year.
Eversource Energy Increases Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 5th will be issued a dividend of $0.7875 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.75. The ex-dividend date is Thursday, March 5th. This represents a $3.15 dividend on an annualized basis and a yield of 4.3%. Eversource Energy’s dividend payout ratio (DPR) is 68.93%.
Eversource Energy Profile
(Free Report)
Eversource Energy NYSE: ES is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.
Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.
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