Eversource Energy $ES Shares Bought by Magellan Asset Management Ltd

Magellan Asset Management Ltd increased its position in shares of Eversource Energy (NYSE:ES) by 6.5% during the 3rd quarter, HoldingsChannel reports. The fund owned 7,406,785 shares of the utilities provider’s stock after purchasing an additional 454,658 shares during the quarter. Eversource Energy accounts for about 6.2% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 3rd largest holding. Magellan Asset Management Ltd’s holdings in Eversource Energy were worth $526,919,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Eversource Energy by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 46,814,369 shares of the utilities provider’s stock valued at $3,330,374,000 after purchasing an additional 1,161,708 shares during the last quarter. State Street Corp boosted its stake in Eversource Energy by 1.7% in the second quarter. State Street Corp now owns 27,343,038 shares of the utilities provider’s stock valued at $1,739,564,000 after acquiring an additional 465,822 shares during the last quarter. Geode Capital Management LLC grew its holdings in Eversource Energy by 2.3% during the 2nd quarter. Geode Capital Management LLC now owns 9,273,415 shares of the utilities provider’s stock worth $587,449,000 after acquiring an additional 211,962 shares during the period. Norges Bank bought a new stake in shares of Eversource Energy during the 2nd quarter valued at $274,744,000. Finally, American Century Companies Inc. raised its position in shares of Eversource Energy by 8.0% during the 2nd quarter. American Century Companies Inc. now owns 4,126,550 shares of the utilities provider’s stock valued at $262,531,000 after acquiring an additional 304,553 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on ES. Wells Fargo & Company raised Eversource Energy from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $71.00 to $78.00 in a research note on Tuesday, February 17th. JPMorgan Chase & Co. lowered their price target on Eversource Energy from $72.00 to $71.00 and set an “underweight” rating for the company in a research note on Friday, December 12th. Jefferies Financial Group restated an “underperform” rating on shares of Eversource Energy in a report on Monday, November 24th. Janney Montgomery Scott raised shares of 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. Finally, UBS Group decreased their price target on shares of Eversource Energy from $78.00 to $73.00 and set a “neutral” rating for the company in a report on Wednesday, December 17th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $73.90.

Eversource Energy Stock Up 0.5%

Shares of ES stock opened at $75.24 on Wednesday. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $75.28. 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 firm has a fifty day moving average of $69.27 and a 200-day moving average of $68.86. The company has a market capitalization of $28.25 billion, a price-to-earnings ratio of 16.46, a P/E/G ratio of 3.24 and a beta of 0.77.

Eversource Energy (NYSE:ES) last announced its earnings results on Thursday, February 12th. The utilities provider reported $1.12 earnings per share for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.94 billion. Eversource Energy had a net margin of 12.49% and a return on equity of 11.18%. The company’s revenue for the quarter was up 13.4% compared to the same quarter last year. During the same period in the prior year, the business earned $1.01 EPS. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. As a group, equities research analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed 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. The ex-dividend date is Thursday, March 5th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.75. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.2%. Eversource Energy’s dividend payout ratio is 65.86%.

Insider Buying and Selling

In other Eversource Energy news, insider John Y. Kim sold 6,000 shares of the business’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $73.57, for a total value of $441,420.00. Following the sale, the insider owned 12,339 shares in the company, valued at approximately $907,780.23. The trade was a 32.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP John M. Moreira sold 7,800 shares of the company’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $73.90, for a total value of $576,420.00. Following the transaction, the executive vice president directly owned 43,269 shares of the company’s stock, valued at approximately $3,197,579.10. This trade represents a 15.27% decrease in their position. The SEC filing for this sale provides additional information. 0.19% of the stock is currently owned by company insiders.

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.