Meiji Yasuda Asset Management Co Ltd. Takes $11.60 Million Position in Eversource Energy $ES

Meiji Yasuda Asset Management Co Ltd. bought a new position in Eversource Energy (NYSE:ES) during the second quarter, Holdings Channel reports. The firm bought 160,564 shares of the utilities provider’s stock, valued at approximately $11,604,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Empowered Funds LLC lifted its holdings in Eversource Energy by 8.9% in the first quarter. Empowered Funds LLC now owns 16,149 shares of the utilities provider’s stock valued at $1,003,000 after acquiring an additional 1,319 shares during the period. Woodline Partners LP boosted its position in Eversource Energy by 40.8% in the 1st quarter. Woodline Partners LP now owns 30,988 shares of the utilities provider’s stock worth $1,925,000 after purchasing an additional 8,984 shares in the last quarter. Acadian Asset Management LLC grew its stake in shares of Eversource Energy by 115.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,497 shares of the utilities provider’s stock worth $92,000 after purchasing an additional 801 shares during the period. Schnieders Capital Management LLC. increased its holdings in shares of Eversource Energy by 87.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,444 shares of the utilities provider’s stock valued at $3,718,000 after purchasing an additional 27,332 shares in the last quarter. Finally, Brown Advisory Inc. increased its holdings in shares of Eversource Energy by 4.6% during the 2nd quarter. Brown Advisory Inc. now owns 7,933 shares of the utilities provider’s stock valued at $505,000 after purchasing an additional 349 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Trading Up 0.1%

Shares of NYSE:ES opened at $70.25 on Monday. Eversource Energy has a 1 year low of $61.53 and a 1 year high of $76.57. The firm has a market capitalization of $26.46 billion, a price-to-earnings ratio of 18.20, a price-to-earnings-growth ratio of 5.18 and a beta of 0.70. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.80 and a quick ratio of 0.74. The business’s 50 day moving average price is $72.71 and its 200-day moving average price is $71.00.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, meeting 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 net margin of 10.35% and a return on equity of 11.33%. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 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 4.64 earnings per share for the current fiscal year.

Insider Transactions at Eversource Energy

In other news, VP Gregory B. Butler sold 7,000 shares of Eversource Energy 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 sale, the vice president 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 document filed with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ES has been the subject of several analyst reports. Argus cut shares of Eversource Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 12th. Mizuho lifted their price objective on shares of Eversource Energy from $70.00 to $74.00 and gave the company a “neutral” rating in a report on Monday, August 3rd. Citigroup reiterated a “hold” rating and issued 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. Finally, Weiss Ratings upgraded Eversource Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Four investment 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. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $72.92.

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.