Royal Bank of Canada Raises Stock Holdings in Eversource Energy $ES

Royal Bank of Canada increased its holdings in shares of Eversource Energy (NYSE:ES) by 2.1% in the first quarter, Holdings Channel.com reports. The fund owned 2,757,798 shares of the utilities provider’s stock after buying an additional 57,455 shares during the quarter. Royal Bank of Canada’s holdings in Eversource Energy were worth $191,060,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the business. Lodestone Wealth Management LLC purchased a new stake in Eversource Energy in the fourth quarter worth $25,000. Activest Wealth Management boosted its stake in shares of Eversource Energy by 2,337.5% during the fourth quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 374 shares during the period. TFC Financial Management Inc. grew its holdings in shares of Eversource Energy by 2,857.1% in the fourth quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 400 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new position in Eversource Energy in the 4th quarter worth about $28,000. Finally, Key Capital Management INC purchased a new position in Eversource Energy in the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $74.80 on Thursday. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The stock’s fifty day moving average price is $71.71 and its 200-day moving average price is $70.71. The firm has a market cap of $28.13 billion, a P/E ratio of 15.98, a P/E/G ratio of 5.56 and a beta of 0.70. Eversource Energy has a 12 month low of $61.53 and a 12 month high of $76.57.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share for the quarter, topping analysts’ consensus estimates of $1.59 by $0.14. Eversource Energy had a net margin of 12.55% and a return on equity of 11.59%. The company had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same period in the prior year, the firm earned $1.50 earnings per share. The firm’s revenue for the quarter 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, equities research analysts expect that Eversource Energy will post 4.64 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th were given a $0.7875 dividend. This represents a $3.15 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, May 18th. Eversource Energy’s dividend payout ratio is presently 67.31%.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. 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. Wells Fargo & Company raised their target price on shares of Eversource Energy from $75.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. BMO Capital Markets reduced their target price on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Seaport Research Partners downgraded shares of Eversource Energy from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Finally, Capital One Financial set a $73.00 price target on Eversource Energy in a report on Wednesday, July 1st. Four 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 company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $72.58.

Insider Buying and Selling at Eversource Energy

In other news, VP Gregory B. Butler sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $69.88, for a total value of $489,160.00. Following the completion of the sale, the vice president owned 56,179 shares of the company’s stock, valued at approximately $3,925,788.52. This represents a 11.08% 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.

Eversource Energy 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.