OP Asset Management Ltd Takes Position in Eversource Energy $ES

OP Asset Management Ltd acquired a new position in Eversource Energy (NYSE:ES) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 38,126 shares of the utilities provider’s stock, valued at approximately $2,641,000.

Other institutional investors have also recently made changes to their positions in the company. Aventail Capital Group LP boosted its stake 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 worth $97,186,000 after purchasing an additional 783,768 shares during the period. Russell Investments Group Ltd. raised its position in shares of 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 valued at $75,461,000 after buying an additional 494,158 shares during the last quarter. Legal & General Group Plc lifted its holdings in shares of Eversource Energy by 1.3% in the third quarter. Legal & General Group Plc now owns 5,088,500 shares of the utilities provider’s stock worth $361,996,000 after buying an additional 63,466 shares in the last quarter. Brick & Kyle Associates purchased a new position in shares of Eversource Energy in the third quarter worth $7,067,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Eversource Energy during the fourth quarter worth $1,158,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Transactions at Eversource Energy

In other Eversource Energy news, VP Gregory B. Butler sold 7,000 shares of Eversource Energy stock in a transaction on Thursday, June 4th. The shares were 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 of the company’s stock, valued at $3,925,788.52. The trade was a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on ES. BMO Capital Markets cut their target price on shares of Eversource Energy from $75.00 to $73.00 and set a “market perform” rating for the company in a research note on Monday, May 11th. Scotiabank dropped 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 report on Tuesday, April 21st. Weiss Ratings restated a “hold (c+)” rating on shares of Eversource Energy in a research report on Monday, April 27th. Argus cut Eversource Energy from a “buy” rating to a “hold” rating in a report on Friday, June 12th. Finally, JPMorgan Chase & Co. increased their price target on Eversource Energy from $72.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, March 12th. Three investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $71.70.

Eversource Energy Trading Up 1.7%

Shares of ES stock opened at $73.33 on Friday. Eversource Energy has a 1 year low of $61.53 and a 1 year high of $76.41. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.65 and a quick ratio of 0.59. The stock’s 50 day simple moving average is $69.03 and its two-hundred day simple moving average is $69.59. The company has a market cap of $27.58 billion, a PE ratio of 15.67, a price-to-earnings-growth ratio of 4.86 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 analysts’ consensus estimates of $1.59 by $0.14. The firm had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.21 billion. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The company’s quarterly revenue was up 9.4% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.50 EPS. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Research analysts predict that Eversource Energy will post 4.65 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, May 18th will be given a $0.7875 dividend. The ex-dividend date is Monday, May 18th. This represents a $3.15 dividend on an annualized basis and a yield of 4.3%. Eversource Energy’s dividend payout ratio (DPR) is currently 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.