Bank of New York Mellon Corp Raises Stock Position in Eversource Energy $ES

Bank of New York Mellon Corp boosted its position in shares of Eversource Energy (NYSE:ES) by 11.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,833,876 shares of the utilities provider’s stock after acquiring an additional 288,792 shares during the period. Bank of New York Mellon Corp’s holdings in Eversource Energy were worth $190,805,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of ES. Norges Bank purchased a new position in Eversource Energy during the fourth quarter valued at approximately $324,032,000. Northwestern Mutual Wealth Management Co. grew its stake in Eversource Energy by 23,707.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,649,747 shares of the utilities provider’s stock valued at $313,067,000 after acquiring an additional 4,630,216 shares in the last quarter. AQR Capital Management LLC lifted its position in Eversource Energy by 412.7% during the third quarter. AQR Capital Management LLC now owns 1,800,618 shares of the utilities provider’s stock valued at $127,133,000 after purchasing an additional 1,449,388 shares during the last quarter. LSV Asset Management lifted its position in Eversource Energy by 331.5% during the third quarter. LSV Asset Management now owns 1,566,577 shares of the utilities provider’s stock valued at $111,446,000 after purchasing an additional 1,203,563 shares during the last quarter. Finally, Vanguard Group Inc. lifted its position in Eversource Energy by 2.5% during 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 last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ES. Seaport Research Partners lowered shares of Eversource Energy from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. BMO Capital Markets dropped their target price on shares of Eversource Energy from $75.00 to $73.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. Wells Fargo & Company lifted their target price on shares of Eversource Energy from $74.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Mizuho dropped their target price on shares of Eversource Energy from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, March 26th. Finally, Bank of America reiterated a “buy” rating and set a $72.00 target price on shares of Eversource Energy in a research report on Wednesday, April 22nd. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $71.70.

Eversource Energy Trading Up 1.0%

Shares of Eversource Energy stock opened at $70.56 on Friday. The firm has a market cap of $26.54 billion, a PE ratio of 15.08, a PEG ratio of 4.63 and a beta of 0.71. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.65 and a quick ratio of 0.59. Eversource Energy has a 1 year low of $61.53 and a 1 year high of $76.41. The company has a 50 day simple moving average of $68.81 and a two-hundred day simple moving average of $69.29.

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

Eversource Energy Dividend Announcement

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

Insider Buying and Selling at Eversource Energy

In other news, VP Gregory B. Butler sold 7,000 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president directly owned 56,179 shares in the company, valued at approximately $3,925,788.52. The trade was a 11.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

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.