Gallagher Fiduciary Advisors LLC acquired a new position in Eversource Energy (NYSE:ES – Free Report) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 8,357 shares of the utilities provider’s stock, valued at approximately $604,000.
Several other institutional investors have also added to or reduced their stakes in ES. Vanguard Group Inc. lifted its position in shares of Eversource Energy by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 47,512,198 shares of the utilities provider’s stock worth $3,198,996,000 after purchasing an additional 697,829 shares during the period. BlackRock Inc. acquired a new stake in shares of Eversource Energy during the second quarter worth $3,086,413,000. State Street Corp increased its position in shares of Eversource Energy by 4.7% during the fourth quarter. State Street Corp now owns 28,013,053 shares of the utilities provider’s stock worth $1,886,119,000 after buying an additional 1,265,802 shares during the period. Geode Capital Management LLC raised its stake in Eversource Energy by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 9,635,907 shares of the utilities provider’s stock worth $646,233,000 after buying an additional 194,781 shares during the last quarter. Finally, Victory Capital Management Inc. lifted its holdings in Eversource Energy by 61.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider’s stock valued at $642,747,000 after buying an additional 3,645,555 shares during the period. 79.99% of the stock is currently owned by institutional investors.
Insider Buying and Selling at Eversource Energy
In other news, VP Gregory B. Butler sold 7,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $69.88, for a total transaction of $489,160.00. Following the transaction, 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 position. 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 Stock Down 0.3%
Eversource Energy (NYSE:ES – Get Free Report) last issued its earnings results on Thursday, July 30th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.87. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.99 billion. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. Eversource Energy’s revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the firm earned $0.96 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, sell-side analysts predict that Eversource Energy will post 4.64 EPS for the current fiscal year.
Wall Street Analyst Weigh In
A number of brokerages have commented on ES. Capital One Financial set a $73.00 price target on shares of Eversource Energy in a research report on Wednesday, July 1st. Mizuho lifted their price objective on Eversource Energy from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Wells Fargo & Company boosted their price objective on Eversource Energy from $75.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Argus lowered Eversource Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 12th. Finally, Weiss Ratings raised Eversource Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $72.92.
Get Our Latest Stock Report on ES
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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