Eversource Energy $ES Shares Sold by Magellan Asset Management Ltd

Magellan Asset Management Ltd trimmed its position in shares of Eversource Energy (NYSE:ES) by 5.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 6,989,415 shares of the utilities provider’s stock after selling 417,370 shares during the quarter. Eversource Energy makes up about 5.7% of Magellan Asset Management Ltd’s investment portfolio, making the stock its 3rd largest holding. Magellan Asset Management Ltd’s holdings in Eversource Energy were worth $470,597,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ES. Tokio Marine Asset Management Co. Ltd. lifted its stake in Eversource Energy by 1.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,287 shares of the utilities provider’s stock valued at $895,000 after acquiring an additional 142 shares during the last quarter. Northwestern Mutual Investment Management Company LLC lifted its stake in Eversource Energy by 1.4% in the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 11,988 shares of the utilities provider’s stock valued at $807,000 after acquiring an additional 160 shares during the last quarter. Parallel Advisors LLC lifted its stake in Eversource Energy by 4.9% in the third quarter. Parallel Advisors LLC now owns 3,636 shares of the utilities provider’s stock valued at $259,000 after acquiring an additional 169 shares during the last quarter. Root Financial Partners LLC raised its holdings in shares of Eversource Energy by 49.9% during the 4th quarter. Root Financial Partners LLC now owns 538 shares of the utilities provider’s stock valued at $36,000 after purchasing an additional 179 shares in the last quarter. Finally, Exencial Wealth Advisors LLC lifted its stake in shares of Eversource Energy by 5.7% in the 4th quarter. Exencial Wealth Advisors LLC now owns 3,458 shares of the utilities provider’s stock valued at $233,000 after purchasing an additional 185 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on the stock. Mizuho decreased their price objective on shares of Eversource Energy from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, March 26th. Wells Fargo & Company raised their target price on Eversource Energy from $74.00 to $75.00 and gave the company an “overweight” rating in a report on Friday, May 8th. Scotiabank cut their target price on Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating on the stock in a report on Tuesday, April 21st. Bank of America restated a “buy” rating and set a $72.00 target price on shares of Eversource Energy in a report on Wednesday, April 22nd. Finally, Seaport Research Partners downgraded Eversource Energy from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and an average target price of $71.70.

Eversource Energy Stock Up 2.5%

ES opened at $69.91 on Friday. The business has a 50 day moving average price of $68.74 and a 200 day moving average price of $69.28. Eversource Energy has a twelve month low of $61.53 and a twelve month high of $76.41. 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 $26.29 billion, a P/E ratio of 14.94, a price-to-earnings-growth ratio of 4.52 and a beta of 0.71.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, May 6th. The utilities provider reported $1.73 EPS for the quarter, topping the consensus estimate of $1.59 by $0.14. The firm had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.21 billion. Eversource Energy had a net margin of 12.55% and a return on equity of 11.59%. The business’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.50 EPS. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Research analysts forecast that Eversource Energy will post 4.65 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, May 18th will be issued a $0.7875 dividend. This represents a $3.15 annualized dividend and a yield of 4.5%. The ex-dividend date is Monday, May 18th. Eversource Energy’s dividend payout ratio (DPR) is 67.31%.

Eversource Energy Company Profile

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.