Eversource Energy $ES Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd cut its stake in shares of Eversource Energy (NYSE:ES) by 5.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,989,415 shares of the utilities provider’s stock after selling 417,370 shares during the quarter. Eversource Energy accounts for 5.7% of Magellan Asset Management Ltd’s portfolio, making the stock its 3rd largest holding. Magellan Asset Management Ltd owned 1.86% of Eversource Energy worth $470,597,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of ES. Alps Advisors Inc. raised its holdings in Eversource Energy by 5.4% during the 3rd quarter. Alps Advisors Inc. now owns 386,853 shares of the utilities provider’s stock worth $27,521,000 after buying an additional 19,795 shares during the period. Aventail Capital Group LP raised its holdings in Eversource Energy by 134.6% during the 3rd quarter. Aventail Capital Group LP now owns 1,366,121 shares of the utilities provider’s stock worth $97,186,000 after buying an additional 783,768 shares during the period. Russell Investments Group Ltd. raised its holdings in Eversource Energy by 87.2% during the 3rd quarter. Russell Investments Group Ltd. now owns 1,060,902 shares of the utilities provider’s stock worth $75,461,000 after buying an additional 494,158 shares during the period. Caprock Group LLC acquired a new stake in Eversource Energy during the 3rd quarter worth about $1,511,000. Finally, Legal & General Group Plc raised its holdings in Eversource Energy by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 5,088,500 shares of the utilities provider’s stock worth $361,996,000 after buying an additional 63,466 shares during the period. 79.99% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research note on Monday, April 27th. Mizuho cut their target price on shares of Eversource Energy from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Thursday, March 26th. Argus raised shares of Eversource Energy to a “strong-buy” rating in a research note on Tuesday, March 24th. Seaport Research Partners downgraded shares of Eversource Energy from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Finally, Wells Fargo & Company boosted their target price on shares of 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 assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $71.70.

Eversource Energy Stock Up 2.5%

Shares of Eversource Energy stock opened at $69.91 on Friday. The stock has a 50-day moving average price of $68.74 and a 200 day moving average price of $69.28. The company has a market cap of $26.29 billion, a P/E ratio of 14.94, a P/E/G ratio of 4.52 and a beta of 0.71. 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 1 year low of $61.53 and a 1 year high of $76.41.

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

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th will be paid a $0.7875 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.5%. Eversource Energy’s dividend payout ratio is 67.31%.

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.