Sumitomo Mitsui Trust Group Inc. Sells 31,965 Shares of Eversource Energy $ES

Sumitomo Mitsui Trust Group Inc. cut its stake in Eversource Energy (NYSE:ES) by 3.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 902,061 shares of the utilities provider’s stock after selling 31,965 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Eversource Energy worth $62,495,000 at the end of the most recent quarter.

A number of other institutional investors have also recently modified their holdings of ES. Norges Bank bought a new position in shares of Eversource Energy in the fourth quarter worth $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 worth $313,067,000 after buying an additional 4,630,216 shares in the last quarter. Victory Capital Management Inc. grew 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 worth $642,747,000 after buying an additional 3,645,555 shares in the last quarter. Deutsche Bank AG increased its holdings in Eversource Energy by 78.1% in the 4th quarter. Deutsche Bank AG now owns 5,341,986 shares of the utilities provider’s stock valued at $359,676,000 after buying an additional 2,341,912 shares during the period. Finally, Cohen & Steers Inc. bought a new position in Eversource Energy in the 4th quarter valued at about $104,848,000. 79.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

ES has been the subject of several analyst reports. UBS Group dropped their target price on shares of Eversource Energy from $80.00 to $74.00 and set a “neutral” rating for the company in a research report on Friday, March 27th. Mizuho reduced their price target on shares of Eversource Energy from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. BMO Capital Markets reissued a “market perform” rating on shares of Eversource Energy in a research note on Wednesday, July 1st. Argus downgraded shares of Eversource Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 12th. Finally, Capital One Financial set a $73.00 target price on Eversource Energy in a research note on Wednesday, July 1st. Three 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 data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $71.91.

Eversource Energy Price Performance

Eversource Energy stock traded up $0.90 during midday trading on Friday, reaching $74.83. The company’s stock had a trading volume of 1,452,346 shares, compared to its average volume of 2,496,206. Eversource Energy has a 52 week low of $61.53 and a 52 week high of $76.41. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The business has a 50-day moving average price of $70.09 and a 200-day moving average price of $70.01. The stock has a market cap of $28.14 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 4.95 and a beta of 0.70.

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

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, May 18th were given a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Monday, May 18th. Eversource Energy’s dividend payout ratio is currently 67.31%.

Insider Buying and Selling

In related news, VP Gregory B. Butler sold 7,000 shares of the 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 transaction, the vice president owned 56,179 shares of the company’s stock, valued at $3,925,788.52. This 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 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.