Illinois Municipal Retirement Fund cut its holdings in shares of Eversource Energy (NYSE:ES – Free Report) by 50.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,048 shares of the utilities provider’s stock after selling 70,474 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in Eversource Energy were worth $4,784,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. Lodestone Wealth Management LLC bought a new position in shares of Eversource Energy in the fourth quarter worth about $25,000. Activest Wealth Management raised its stake in Eversource Energy by 2,337.5% during the 4th quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 374 shares during the period. TFC Financial Management Inc. raised its stake in Eversource Energy by 2,857.1% during the 4th quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 400 shares during the period. Garton & Associates Financial Advisors LLC purchased a new position in Eversource Energy in the 4th quarter worth approximately $28,000. Finally, Godfrey Financial Associates Inc. purchased a new position in Eversource Energy in the 4th quarter worth approximately $29,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In related news, VP Gregory B. Butler sold 7,000 shares of the company’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $69.88, for a total transaction 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 represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.18% of the company’s stock.
Eversource Energy Price Performance
Eversource Energy (NYSE:ES – Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.14. The business had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.21 billion. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The company’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.50 EPS. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, research analysts expect that Eversource Energy will post 4.65 EPS for the current fiscal year.
Eversource Energy Announces Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, May 18th were given a $0.7875 dividend. This represents a $3.15 annualized dividend and a yield of 4.2%. The ex-dividend date was Monday, May 18th. Eversource Energy’s payout ratio is currently 67.31%.
Analyst Ratings Changes
A number of equities research analysts have issued reports on ES shares. Argus lowered shares of Eversource Energy from a “buy” rating to a “hold” rating in a report on Friday, June 12th. Bank of America reissued a “buy” rating and issued a $72.00 target price on shares of Eversource Energy in a report on Wednesday, April 22nd. Mizuho dropped their target price on shares of Eversource Energy from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, March 26th. Capital One Financial set a $73.00 target price on shares of Eversource Energy in a research note on Wednesday, July 1st. Finally, Seaport Research Partners downgraded shares of Eversource Energy from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $71.91.
Check Out Our Latest Research Report on Eversource Energy
About Eversource Energy
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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