Rakuten Investment Management Inc. Invests $4.54 Million in Eversource Energy $ES

Rakuten Investment Management Inc. bought a new position in Eversource Energy (NYSE:ES) during the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 61,499 shares of the utilities provider’s stock, valued at approximately $4,537,000.

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

Analysts Set New Price Targets

Several brokerages have commented on ES. Citigroup restated a “hold” rating and set a $81.00 price target on shares of Eversource Energy in a research note on Monday, July 27th. Argus lowered Eversource Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 12th. Capital One Financial set a $73.00 target price on Eversource Energy in a report on Wednesday, July 1st. BMO Capital Markets dropped their target price on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating for the company in a research report on Wednesday, July 22nd. Finally, Weiss Ratings upgraded shares of Eversource Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $72.92.

Insiders Place Their Bets

In other Eversource Energy news, VP Gregory B. Butler sold 7,000 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the vice president owned 56,179 shares in the company, valued at $3,925,788.52. This represents a 11.08% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by corporate insiders.

Eversource Energy Stock Performance

NYSE:ES opened at $70.84 on Monday. The business’s 50-day moving average is $72.88 and its two-hundred day moving average is $71.11. The firm has a market capitalization of $26.68 billion, a PE ratio of 18.35, a price-to-earnings-growth ratio of 5.22 and a beta of 0.70. Eversource Energy has a 12 month low of $62.45 and a 12 month high of $76.57. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.80 and a quick ratio of 0.74.

Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, July 30th. The utilities provider reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.99 billion. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%.The company’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.96 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Research analysts predict that Eversource Energy will post 4.64 earnings per share for the current fiscal year.

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.