Redwood Investment Management LLC Acquires New Stake in Eversource Energy $ES

Redwood Investment Management LLC bought a new position in shares of Eversource Energy (NYSE:ES) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor bought 12,022 shares of the utilities provider’s stock, valued at approximately $869,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC boosted its stake 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 buying an additional 240 shares in the last quarter. Activest Wealth Management raised its position in Eversource Energy by 2,337.5% in the fourth quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 374 shares in the last quarter. Edmond DE Rothschild Holding S.A. bought a new stake in Eversource Energy in the second quarter worth about $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in Eversource Energy in the 4th quarter valued at about $28,000. Finally, Godfrey Financial Associates Inc. acquired a new stake in Eversource Energy in the 4th quarter valued at about $29,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Trading Down 1.1%

Shares of NYSE ES opened at $70.86 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.63. Eversource Energy has a 12 month low of $62.45 and a 12 month high of $76.57. The company has a market cap of $26.69 billion, a price-to-earnings ratio of 18.36, a P/E/G ratio of 5.29 and a beta of 0.70. The business has a fifty day simple moving average of $72.86 and a 200-day simple moving average of $71.09.

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

Analyst Ratings Changes

ES has been the subject of several research reports. Citigroup restated a “hold” rating and set a $81.00 price objective on shares of Eversource Energy in a research report on Monday, July 27th. Capital One Financial set a $73.00 target price on shares of Eversource Energy in a research note on Wednesday, July 1st. Wells Fargo & Company increased their target price on shares of Eversource Energy from $75.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Argus cut shares of Eversource Energy from a “buy” rating to a “hold” rating in a report on Friday, June 12th. Finally, BMO Capital Markets decreased their price target on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $72.92.

Insider Activity at Eversource Energy

In other Eversource Energy 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 completion of the transaction, the vice president directly owned 56,179 shares in the company, valued at $3,925,788.52. This trade represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. 0.18% of the stock is currently owned by 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.