280,391 Shares in Eversource Energy $ES Bought by HITE Hedge Asset Management LLC

HITE Hedge Asset Management LLC acquired a new position in shares of Eversource Energy (NYSE:ES) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 280,391 shares of the utilities provider’s stock, valued at approximately $18,879,000. Eversource Energy comprises approximately 1.2% of HITE Hedge Asset Management LLC’s holdings, making the stock its 23rd biggest position. HITE Hedge Asset Management LLC owned 0.07% of Eversource Energy at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Aventail Capital Group LP raised its stake in Eversource Energy by 134.6% during the third quarter. Aventail Capital Group LP now owns 1,366,121 shares of the utilities provider’s stock worth $97,186,000 after acquiring an additional 783,768 shares in the last quarter. Russell Investments Group Ltd. raised its stake in Eversource Energy by 87.2% during the third quarter. Russell Investments Group Ltd. now owns 1,060,902 shares of the utilities provider’s stock worth $75,461,000 after acquiring an additional 494,158 shares in the last quarter. Caprock Group LLC acquired a new position in Eversource Energy during the third quarter worth about $1,511,000. Legal & General Group Plc raised its stake in Eversource Energy by 1.3% during the third quarter. Legal & General Group Plc now owns 5,088,500 shares of the utilities provider’s stock worth $361,996,000 after acquiring an additional 63,466 shares in the last quarter. Finally, Brick & Kyle Associates acquired a new position in Eversource Energy during the third quarter worth about $7,067,000. 79.99% of the stock is currently owned by institutional investors.

Insider Activity

In other 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 directly owned 56,179 shares in the company, 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is owned by company insiders.

Eversource Energy Stock Performance

Shares of ES stock opened at $68.70 on Friday. The business’s 50-day moving average price is $68.83 and its 200-day moving average price is $69.30. Eversource Energy has a 12 month low of $61.53 and a 12 month high of $76.41. The firm has a market capitalization of $25.84 billion, a price-to-earnings ratio of 14.68, a PEG ratio of 4.53 and a beta of 0.71. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62.

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

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th will be given a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Monday, May 18th. Eversource Energy’s dividend payout ratio (DPR) is 67.31%.

Wall Street Analyst Weigh In

Several research analysts have commented on ES shares. JPMorgan Chase & Co. boosted their target price on Eversource Energy from $72.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, March 12th. Seaport Research Partners downgraded Eversource Energy from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Scotiabank lowered their target price on Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating for the company in a research note on Tuesday, April 21st. Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a research note on Monday, April 27th. Finally, Bank of America reissued a “buy” rating and set a $72.00 target price on shares of Eversource Energy in a research note on Wednesday, April 22nd. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Eversource Energy has an average rating of “Hold” and an average target price of $71.70.

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.