Man Group plc Acquires Shares of 791,008 Eversource Energy $ES

Man Group plc acquired a new stake in Eversource Energy (NYSE:ES) in the 2nd quarter, HoldingsChannel reports. The fund acquired 791,008 shares of the utilities provider’s stock, valued at approximately $57,166,000.

A number of other hedge funds have also recently modified their holdings of the stock. Elevation Wealth Partners LLC raised its position in Eversource Energy by 220.2% during the second quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 240 shares in the last quarter. Activest Wealth Management boosted its position in Eversource Energy by 2,337.5% in the 4th quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 374 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Eversource Energy during the 2nd quarter worth approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Eversource Energy during the 4th quarter worth approximately $28,000. Finally, Godfrey Financial Associates Inc. purchased a new position in shares of Eversource Energy during the 4th quarter valued at approximately $29,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Eversource Energy from $75.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Mizuho lifted their price objective on shares of Eversource Energy from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Weiss Ratings upgraded shares of Eversource Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Capital One Financial set a $73.00 target price on shares of Eversource Energy in a research note on Wednesday, July 1st. Finally, Argus cut Eversource Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 12th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Eversource Energy presently has an average rating of “Hold” and an average target price of $72.92.

Insider Buying and Selling at Eversource Energy

In related news, VP Gregory B. Butler sold 7,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $69.88, for a total value of $489,160.00. Following the transaction, the vice president directly owned 56,179 shares of the company’s stock, valued at approximately $3,925,788.52. This trade represents a 11.08% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.18% of the stock is currently owned by company insiders.

Eversource Energy Price Performance

Eversource Energy stock opened at $71.07 on Wednesday. The company’s fifty day moving average price is $72.77 and its 200 day moving average price is $71.04. Eversource Energy has a 1 year low of $62.45 and a 1 year high of $76.57. The stock has a market capitalization of $26.77 billion, a P/E ratio of 18.41, a P/E/G ratio of 5.25 and a beta of 0.70. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.80.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.87 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.87. The company had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.99 billion. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The firm’s revenue for the quarter was up 2.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.96 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, equities research analysts anticipate that Eversource Energy will post 4.64 earnings per share for the current fiscal year.

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.