Norges Bank Makes New Investment in Eversource Energy $ES

Norges Bank bought a new position in Eversource Energy (NYSE:ES) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 4,812,589 shares of the utilities provider’s stock, valued at approximately $324,032,000.

A number of other large investors have also recently bought and sold shares of ES. 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 worth $1,003,000 after acquiring an additional 1,319 shares during the last quarter. Woodline Partners LP lifted its holdings in Eversource Energy by 40.8% in the first quarter. Woodline Partners LP now owns 30,988 shares of the utilities provider’s stock worth $1,925,000 after acquiring an additional 8,984 shares during the last quarter. Acadian Asset Management LLC lifted its holdings in Eversource Energy by 115.1% in the first quarter. Acadian Asset Management LLC now owns 1,497 shares of the utilities provider’s stock worth $92,000 after acquiring an additional 801 shares during the last quarter. Schnieders Capital Management LLC. raised its holdings in shares of Eversource Energy by 87.9% during the second quarter. Schnieders Capital Management LLC. now owns 58,444 shares of the utilities provider’s stock valued at $3,718,000 after buying an additional 27,332 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in shares of Eversource Energy by 4.6% during the second quarter. Brown Advisory Inc. now owns 7,933 shares of the utilities provider’s stock valued at $505,000 after buying an additional 349 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Down 2.2%

Eversource Energy stock opened at $66.76 on Tuesday. 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 $25.11 billion, a price-to-earnings ratio of 14.26, a price-to-earnings-growth ratio of 4.52 and a beta of 0.74. Eversource Energy has a 1 year low of $61.53 and a 1 year high of $76.41. The firm’s 50 day moving average price is $68.64 and its two-hundred day moving average price is $69.38.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share (EPS) 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 for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the business posted $1.50 earnings per share. The firm’s quarterly 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. On average, research analysts predict that Eversource Energy will post 4.65 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, May 18th will be given a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 4.7%. The ex-dividend date is Monday, May 18th. Eversource Energy’s payout ratio is presently 67.31%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ES. UBS Group cut their price target on Eversource Energy from $80.00 to $74.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. Mizuho cut their price target on Eversource Energy from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Thursday, March 26th. Bank of America reaffirmed a “buy” rating and set a $72.00 price target on shares of Eversource Energy in a report on Wednesday, April 22nd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a report on Monday, April 27th. Finally, Argus raised Eversource Energy to a “strong-buy” rating in a report on Tuesday, March 24th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $71.70.

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.