Eversource Energy $ES Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd cut its position in shares of Eversource Energy (NYSE:ES) by 11.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,182,582 shares of the utilities provider’s stock after selling 806,833 shares during the period. Eversource Energy makes up 5.6% of Magellan Asset Management Ltd’s holdings, making the stock its 3rd biggest holding. Magellan Asset Management Ltd owned 1.64% of Eversource Energy worth $428,329,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Lodestone Wealth Management LLC acquired a new stake in shares of Eversource Energy during the 4th quarter worth approximately $25,000. Activest Wealth Management raised its position in shares of Eversource Energy by 2,337.5% during the 4th quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock valued at $26,000 after buying an additional 374 shares during the period. TFC Financial Management Inc. lifted its holdings in Eversource Energy by 2,857.1% in the fourth quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 400 shares during the last quarter. Garton & Associates Financial Advisors LLC acquired a new position in Eversource Energy in the fourth quarter valued at approximately $28,000. Finally, Key Capital Management INC acquired a new position in Eversource Energy in the fourth quarter valued at approximately $29,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the company. Bank of America reissued a “buy” rating and set a $72.00 target price on shares of Eversource Energy in a research note on Wednesday, April 22nd. Weiss Ratings raised Eversource Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. UBS Group decreased their price target on Eversource Energy from $80.00 to $74.00 and set a “neutral” rating on the stock in a research note on Friday, March 27th. BMO Capital Markets reiterated a “market perform” rating on shares of Eversource Energy in a report on Wednesday, July 1st. Finally, Mizuho cut their price objective on Eversource Energy from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, March 26th. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $71.91.

Eversource Energy Stock Performance

Shares of ES stock opened at $72.95 on Wednesday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.65. The firm has a market cap of $27.44 billion, a P/E ratio of 15.59, a P/E/G ratio of 4.90 and a beta of 0.70. The firm’s 50 day moving average price is $70.94 and its 200-day moving average price is $70.39. Eversource Energy has a one year low of $61.53 and a one year high of $76.41.

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

Eversource Energy Announces Dividend

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

Insider Buying and Selling at Eversource Energy

In related news, VP Gregory B. Butler sold 7,000 shares of the business’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $69.88, for a total value of $489,160.00. Following the sale, the vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, 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.