Los Angeles Capital Management LLC lessened its stake in shares of Eversource Energy (NYSE:ES – Free Report) by 8.5% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 734,480 shares of the utilities provider’s stock after selling 68,076 shares during the quarter. Los Angeles Capital Management LLC’s holdings in Eversource Energy were worth $54,205,000 at the end of the most recent quarter.
Several other hedge funds also recently bought and sold shares of ES. Lodestone Wealth Management LLC purchased a new position in Eversource Energy during the fourth quarter worth about $25,000. Activest Wealth Management boosted its stake in Eversource Energy by 2,337.5% during the fourth quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock worth $26,000 after buying an additional 374 shares during the period. TFC Financial Management Inc. boosted its stake in Eversource Energy by 2,857.1% during the fourth quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider’s stock worth $28,000 after buying an additional 400 shares during the period. Key Capital Management INC purchased a new position in Eversource Energy during the fourth quarter worth about $29,000. Finally, Godfrey Financial Associates Inc. purchased a new position in shares of Eversource Energy in the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.
Analyst Ratings Changes
Several research firms have recently commented on ES. Bank of America reissued a “buy” rating and issued a $72.00 price objective on shares of Eversource Energy in a research note on Wednesday, April 22nd. Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a research note on Monday, April 27th. UBS Group lowered their price objective on shares of Eversource Energy from $80.00 to $74.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Argus raised shares of Eversource Energy to a “strong-buy” rating in a research note on Tuesday, March 24th. Finally, Wells Fargo & Company raised their price objective on shares of Eversource Energy from $74.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and an average price target of $71.70.
Insiders Place Their Bets
In related news, VP Gregory B. Butler sold 7,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $69.88, for a total value of $489,160.00. Following the sale, the vice president owned 56,179 shares of the company’s stock, valued at $3,925,788.52. This trade represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by company insiders.
Eversource Energy Stock Up 1.0%
Shares of NYSE:ES opened at $70.56 on Friday. The firm’s 50 day moving average price is $68.81 and its 200 day moving average price is $69.29. The stock has a market cap of $26.54 billion, a price-to-earnings ratio of 15.08, a price-to-earnings-growth ratio of 4.68 and a beta of 0.71. Eversource Energy has a fifty-two week low of $61.53 and a fifty-two week high of $76.41. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.62.
Eversource Energy (NYSE:ES – Get Free Report) last issued its earnings results on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.14. The firm had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.21 billion. Eversource Energy had a net margin of 12.55% and a return on equity of 11.59%. The firm’s revenue was up 9.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.50 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, equities research analysts predict that Eversource Energy will post 4.65 earnings per share for the current fiscal year.
Eversource Energy Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, May 18th will be issued a $0.7875 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $3.15 annualized dividend and a yield of 4.5%. Eversource Energy’s dividend payout ratio (DPR) is 67.31%.
Eversource Energy Company Profile
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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