West Family Investments Inc. acquired a new position in shares of Eversource Energy (NYSE:ES – Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm acquired 9,717 shares of the utilities provider’s stock, valued at approximately $702,000.
Several other hedge funds have also made changes to their positions in ES. Elevation Wealth Partners LLC grew its position in shares of Eversource Energy by 220.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider’s stock worth $25,000 after buying an additional 240 shares in the last quarter. Activest Wealth Management raised its holdings in shares of Eversource Energy by 2,337.5% in the fourth quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 374 shares in the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in Eversource Energy in the fourth quarter worth about $28,000. Godfrey Financial Associates Inc. purchased a new stake in Eversource Energy in the fourth quarter worth about $29,000. Finally, Quest 10 Wealth Builders Inc. bought a new position in Eversource Energy during the 4th quarter worth about $30,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.
Insiders Place Their Bets
In other Eversource Energy 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 completion of the sale, the vice president directly owned 56,179 shares in the company, 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 at the SEC website. 0.18% of the stock is currently owned by company insiders.
Eversource Energy Stock Performance
Eversource Energy (NYSE:ES – Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.99 billion. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, equities analysts forecast that Eversource Energy will post 4.64 EPS for the current fiscal year.
Analysts Set New Price Targets
A number of research analysts have commented on the stock. Wells Fargo & Company raised their target price on shares of Eversource Energy from $75.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. Argus downgraded shares of Eversource Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 12th. Citigroup reissued a “hold” rating and issued a $81.00 price objective on shares of Eversource Energy in a research note on Monday, July 27th. Weiss Ratings upgraded Eversource Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Finally, Bank of America reaffirmed a “buy” rating and set a $72.00 target price on shares of Eversource Energy in a research report on Wednesday, April 22nd. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $72.92.
Read Our Latest Stock Analysis on ES
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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