Eversource Energy $ES Shares Acquired by Legal & General Group Plc

Legal & General Group Plc lifted its stake in shares of Eversource Energy (NYSE:ES) by 1.3% during the third quarter, Holdings Channel reports. The fund owned 5,088,500 shares of the utilities provider’s stock after acquiring an additional 63,466 shares during the period. Legal & General Group Plc’s holdings in Eversource Energy were worth $361,996,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its holdings in Eversource Energy by 2.5% in the third 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 period. State Street Corp grew its stake in Eversource Energy by 1.7% during the 2nd quarter. State Street Corp now owns 27,343,038 shares of the utilities provider’s stock worth $1,739,564,000 after purchasing an additional 465,822 shares in the last quarter. Geode Capital Management LLC increased 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 purchasing an additional 211,962 shares during the period. Magellan Asset Management Ltd increased its holdings in Eversource Energy by 6.5% during the 3rd quarter. Magellan Asset Management Ltd now owns 7,406,785 shares of the utilities provider’s stock worth $526,919,000 after purchasing an additional 454,658 shares during the period. Finally, Victory Capital Management Inc. raised its position in Eversource Energy by 9.4% in the 3rd quarter. Victory Capital Management Inc. now owns 5,900,662 shares of the utilities provider’s stock valued at $419,773,000 after purchasing an additional 505,489 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Trading Up 0.5%

ES opened at $73.99 on Thursday. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.65. Eversource Energy has a one year low of $52.28 and a one year high of $76.41. The company has a market cap of $27.78 billion, a P/E ratio of 16.19, a PEG ratio of 3.18 and a beta of 0.76. The business’s 50-day simple moving average is $70.91 and its 200-day simple moving average is $69.53.

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

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 5th will be given a dividend of $0.7875 per share. The ex-dividend date is Thursday, March 5th. This represents a $3.15 annualized dividend and a dividend yield of 4.3%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.75. Eversource Energy’s payout ratio is presently 68.93%.

Insider Activity

In other news, insider Cotton M. Cleveland sold 2,581 shares of the company’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $74.87, for a total value of $193,239.47. Following the completion of the transaction, the insider owned 79,364 shares in the company, valued at approximately $5,941,982.68. This represents a 3.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, EVP John M. Moreira sold 7,800 shares of the stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $73.90, for a total transaction of $576,420.00. Following the completion of the transaction, the executive vice president directly owned 43,269 shares in the company, valued at $3,197,579.10. This trade represents a 15.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 16,381 shares of company stock worth $1,211,079. Corporate insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently commented on ES. JPMorgan Chase & Co. lowered their price objective on Eversource Energy from $72.00 to $71.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. Scotiabank reduced their target price on shares of Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a report on Thursday, November 20th. Janney Montgomery Scott upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price target for the company in a research note on Monday, November 24th. Mizuho boosted their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the stock a “neutral” rating in a report on Tuesday, February 17th. Finally, Bank of America reissued a “buy” rating on shares of Eversource Energy in a research report on Monday, March 2nd. Three 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 data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $73.90.

Eversource Energy 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.