Truist Financial Corp Reduces Stock Holdings in Eversource Energy $ES

Truist Financial Corp reduced its stake in shares of Eversource Energy (NYSE:ES) by 23.2% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 27,553 shares of the utilities provider’s stock after selling 8,312 shares during the quarter. Truist Financial Corp’s holdings in Eversource Energy were worth $1,855,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Empowered Funds LLC grew its stake in Eversource Energy by 8.9% during the 1st quarter. Empowered Funds LLC now owns 16,149 shares of the utilities provider’s stock valued at $1,003,000 after purchasing an additional 1,319 shares in the last quarter. Woodline Partners LP grew its stake in Eversource Energy by 40.8% during the 1st quarter. Woodline Partners LP now owns 30,988 shares of the utilities provider’s stock valued at $1,925,000 after purchasing an additional 8,984 shares in the last quarter. Acadian Asset Management LLC grew its stake in Eversource Energy by 115.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,497 shares of the utilities provider’s stock valued at $92,000 after purchasing an additional 801 shares in the last quarter. Schnieders Capital Management LLC. grew its stake in Eversource Energy by 87.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,444 shares of the utilities provider’s stock valued at $3,718,000 after purchasing an additional 27,332 shares in the last quarter. Finally, Brown Advisory Inc. grew its stake in Eversource Energy by 4.6% during the 2nd quarter. Brown Advisory Inc. now owns 7,933 shares of the utilities provider’s stock valued at $505,000 after purchasing an additional 349 shares in the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ES. Scotiabank lowered their price objective on Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating for the company in a research note on Tuesday, April 21st. JPMorgan Chase & Co. raised their price objective on Eversource Energy from $72.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, March 12th. UBS Group lowered their price objective on Eversource Energy from $80.00 to $74.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Weiss Ratings restated a “hold (c+)” rating on shares of Eversource Energy in a research note on Monday, April 27th. Finally, Wells Fargo & Company raised their price objective on Eversource Energy from $74.00 to $75.00 and gave the company an “overweight” rating in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $71.70.

Insider Transactions at Eversource Energy

In other news, insider Cotton M. Cleveland sold 2,581 shares of Eversource Energy stock in a transaction that occurred on Tuesday, February 24th. The stock was 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 trade represents a 3.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider John Y. Kim sold 6,000 shares of Eversource Energy 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 completion of the transaction, the insider owned 12,339 shares of the company’s stock, valued at approximately $907,780.23. The trade was a 32.72% decrease in their position. 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. 0.18% of the stock is currently owned by corporate insiders.

Eversource Energy Price Performance

Shares of ES opened at $68.82 on Friday. The firm has a market cap of $25.88 billion, a price-to-earnings ratio of 14.70, a PEG ratio of 4.52 and a beta of 0.74. The stock has a 50 day moving average of $69.70 and a 200-day moving average of $69.77. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. Eversource Energy has a 52 week low of $60.75 and a 52 week high of $76.41.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, May 6th. The utilities provider reported $1.73 EPS for the quarter, topping the consensus estimate of $1.59 by $0.14. The company had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.21 billion. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The business’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.50 EPS. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, analysts forecast that Eversource Energy will post 4.65 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th will be given a $0.7875 dividend. The ex-dividend date is Monday, May 18th. This represents a $3.15 annualized dividend and a dividend yield of 4.6%. Eversource Energy’s dividend payout ratio (DPR) is presently 67.31%.

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.