OP Asset Management Ltd Makes New $2.64 Million Investment in Eversource Energy $ES

OP Asset Management Ltd bought a new stake in shares of Eversource Energy (NYSE:ES) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 38,126 shares of the utilities provider’s stock, valued at approximately $2,641,000.

Other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Eversource Energy by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 47,512,198 shares of the utilities provider’s stock worth $3,198,996,000 after purchasing an additional 697,829 shares in the last quarter. State Street Corp increased its position in Eversource Energy by 4.7% during the 4th quarter. State Street Corp now owns 28,013,053 shares of the utilities provider’s stock valued at $1,886,119,000 after buying an additional 1,265,802 shares in the last quarter. Geode Capital Management LLC increased its position in Eversource Energy by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 9,635,907 shares of the utilities provider’s stock valued at $646,233,000 after buying an additional 194,781 shares in the last quarter. Victory Capital Management Inc. raised its stake in Eversource Energy by 61.8% during the fourth quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider’s stock valued at $642,747,000 after buying an additional 3,645,555 shares during the last quarter. Finally, Morgan Stanley raised its stake in Eversource Energy by 4.2% during the fourth quarter. Morgan Stanley now owns 5,879,604 shares of the utilities provider’s stock valued at $395,874,000 after buying an additional 238,723 shares during 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 research firms have recently commented on ES. Scotiabank cut their target price on Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, April 21st. UBS Group lowered their price target on Eversource Energy from $80.00 to $74.00 and set a “neutral” rating for the company in a research report on Friday, March 27th. Argus downgraded shares of Eversource Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 12th. BMO Capital Markets dropped their price objective on Eversource Energy from $75.00 to $73.00 and set a “market perform” rating on the stock in a research report on Monday, May 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Eversource Energy from $72.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, March 12th. Three analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $71.70.

Eversource Energy Stock Up 1.7%

ES stock opened at $73.33 on Friday. Eversource Energy has a twelve month low of $61.53 and a twelve month high of $76.41. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.62. The stock has a market cap of $27.58 billion, a P/E ratio of 15.67, a PEG ratio of 4.86 and a beta of 0.71. The business’s 50-day moving average price is $69.03 and its 200-day moving average price is $69.59.

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, beating analysts’ consensus estimates of $1.59 by $0.14. The company had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.21 billion. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.50 EPS. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, equities research analysts forecast that Eversource Energy will post 4.65 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, May 18th will be given a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Monday, May 18th. Eversource Energy’s dividend payout ratio is presently 67.31%.

Insider Activity

In other news, VP Gregory B. Butler sold 7,000 shares of the firm’s stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $69.88, for a total transaction of $489,160.00. Following the sale, 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 position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.18% of the stock is currently owned by company 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.