Wealthfront Advisers LLC Buys Shares of 174,416 Eversource Energy $ES

Wealthfront Advisers LLC purchased a new stake in shares of Eversource Energy (NYSE:ES) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 174,416 shares of the utilities provider’s stock, valued at approximately $12,605,000.

Several other institutional investors have also modified their holdings of the company. Ontario Teachers Pension Plan Board bought a new stake in Eversource Energy in the 2nd quarter valued at about $103,884,000. Hurlow Wealth Management Group Inc. acquired a new position in Eversource Energy during the 2nd quarter valued at about $208,000. Mowery & Schoenfeld Wealth Management LLC bought a new position in Eversource Energy in the 2nd quarter worth about $51,000. Meeder Advisory Services Inc. bought a new position in Eversource Energy in the 2nd quarter worth about $391,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of Eversource Energy in the second quarter valued at approximately $311,000. Institutional investors own 79.99% of the company’s stock.

Insiders Place Their Bets

In related news, VP Gregory B. Butler sold 7,000 shares of the firm’s stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $69.88, for a total transaction 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 trade represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.18% of the stock is owned by corporate insiders.

Eversource Energy Stock Performance

ES opened at $72.27 on Wednesday. The company has a market capitalization of $27.22 billion, a price-to-earnings ratio of 18.72, a price-to-earnings-growth ratio of 5.34 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. Eversource Energy has a 1-year low of $61.53 and a 1-year high of $76.57. The business has a 50 day moving average price of $72.55 and a two-hundred day moving average price of $70.94.

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

Analyst Ratings Changes

A number of research firms have recently weighed in on ES. Argus cut Eversource Energy from a “buy” rating to a “hold” rating in a report on Friday, June 12th. Mizuho lifted their target price on Eversource Energy from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Weiss Ratings raised Eversource Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. BMO Capital Markets cut their price objective on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Finally, Wells Fargo & Company upped their price objective on shares of Eversource Energy from $75.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Four 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 MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price 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.