Resona Asset Management Co. Ltd. Reduces Position in Eversource Energy $ES

Resona Asset Management Co. Ltd. lessened its holdings in shares of Eversource Energy (NYSE:ES) by 4.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 144,259 shares of the utilities provider’s stock after selling 7,482 shares during the period. Resona Asset Management Co. Ltd.’s holdings in Eversource Energy were worth $9,707,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ES. Northwestern Mutual Wealth Management Co. boosted its position in shares of 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 valued at $313,067,000 after buying an additional 4,630,216 shares during the period. AQR Capital Management LLC boosted its position in Eversource Energy by 412.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,800,618 shares of the utilities provider’s stock valued at $127,133,000 after buying an additional 1,449,388 shares during the period. LSV Asset Management boosted its position in Eversource Energy by 331.5% in the 3rd quarter. LSV Asset Management now owns 1,566,577 shares of the utilities provider’s stock valued at $111,446,000 after buying an additional 1,203,563 shares during the period. Vanguard Group Inc. boosted its position in Eversource Energy by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 46,814,369 shares of the utilities provider’s stock valued at $3,330,374,000 after buying an additional 1,161,708 shares during the period. Finally, Aventail Capital Group LP boosted its position in Eversource Energy by 134.6% in the 3rd quarter. Aventail Capital Group LP now owns 1,366,121 shares of the utilities provider’s stock valued at $97,186,000 after buying an additional 783,768 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Buying and Selling at Eversource Energy

In other news, insider Cotton M. Cleveland sold 2,581 shares of the company’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $74.87, for a total value of $193,239.47. Following the completion of the sale, the insider owned 79,364 shares of the company’s stock, valued at approximately $5,941,982.68. This represents a 3.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on the stock. BMO Capital Markets lowered their price objective on shares of Eversource Energy from $75.00 to $73.00 and set a “market perform” rating for the company in a research report on Monday, May 11th. Bank of America reissued a “buy” rating and issued a $72.00 price objective on shares of Eversource Energy in a research report on Wednesday, April 22nd. Argus raised shares of Eversource Energy to a “strong-buy” rating in a research report on Tuesday, March 24th. Scotiabank lowered their price objective on shares of Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating for the company in a research report on Tuesday, April 21st. Finally, Seaport Research Partners cut shares of Eversource Energy from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $71.70.

Eversource Energy Price Performance

Shares of ES opened at $69.62 on Friday. The company has a 50 day moving average price of $69.13 and a 200-day moving average price of $69.57. Eversource Energy has a fifty-two week low of $61.53 and a fifty-two week high of $76.41. The stock has a market capitalization of $26.18 billion, a PE ratio of 14.88, a PEG ratio of 4.57 and a beta of 0.74. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.65.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share for the quarter, topping the consensus estimate 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 company earned $1.50 EPS. The company’s revenue 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. Equities analysts predict that Eversource Energy will post 4.65 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th will be given a $0.7875 dividend. This represents a $3.15 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, May 18th. Eversource Energy’s dividend payout ratio is presently 67.31%.

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.