Gabelli Funds LLC Cuts Stock Holdings in Eversource Energy $ES

Gabelli Funds LLC reduced its position in Eversource Energy (NYSE:ES) by 2.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 776,350 shares of the utilities provider’s stock after selling 19,900 shares during the period. Gabelli Funds LLC’s holdings in Eversource Energy were worth $55,230,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently added to or reduced their stakes in the company. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Eversource Energy by 7.9% in the second quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 419,251 shares of the utilities provider’s stock worth $26,673,000 after acquiring an additional 30,641 shares during the period. Alps Advisors Inc. boosted its stake in shares of Eversource Energy by 5.4% during the 3rd quarter. Alps Advisors Inc. now owns 386,853 shares of the utilities provider’s stock worth $27,521,000 after acquiring an additional 19,795 shares in the last quarter. Vanguard Group Inc. grew its position in shares of Eversource Energy by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 45,652,661 shares of the utilities provider’s stock valued at $2,904,422,000 after acquiring an additional 691,165 shares during the period. Advisors Asset Management Inc. increased its stake in shares of Eversource Energy by 31.1% in the 2nd quarter. Advisors Asset Management Inc. now owns 39,391 shares of the utilities provider’s stock valued at $2,506,000 after purchasing an additional 9,350 shares in the last quarter. Finally, Synergy Asset Management LLC increased its stake in shares of Eversource Energy by 287.7% in the 3rd quarter. Synergy Asset Management LLC now owns 160,322 shares of the utilities provider’s stock valued at $10,783,000 after purchasing an additional 118,971 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ES has been the topic of a number of recent analyst reports. UBS Group lowered their price target on Eversource Energy from $78.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Bank of America restated a “buy” rating on shares of Eversource Energy in a research report on Monday. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Eversource Energy in a research note on Monday, November 24th. Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Monday, November 24th. Finally, Wells Fargo & Company raised shares of Eversource Energy from an “equal weight” rating to an “overweight” rating and lifted their price target for the company from $71.00 to $78.00 in a research note on Tuesday, February 17th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $73.90.

Eversource Energy Stock Up 1.0%

ES opened at $74.58 on Friday. The company has a market cap of $28.00 billion, a PE ratio of 16.32, a price-to-earnings-growth ratio of 3.20 and a beta of 0.76. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $76.41. The company has a 50-day moving average price of $70.52 and a 200 day moving average price of $69.33. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.66.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Thursday, February 12th. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.02. Eversource Energy had a return on equity of 11.18% and a net margin of 12.49%.The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.94 billion. During the same period in the previous year, the firm posted $1.01 EPS. Eversource Energy’s revenue was up 13.4% compared to the same quarter last year. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. Sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 5th will be paid a $0.7875 dividend. This is a boost from Eversource Energy’s previous quarterly dividend of $0.75. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend is Thursday, March 5th. Eversource Energy’s dividend payout ratio is presently 68.93%.

Insider Transactions at Eversource Energy

In other Eversource Energy news, EVP John M. Moreira sold 7,800 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $73.90, for a total value of $576,420.00. Following the transaction, the executive vice president owned 43,269 shares in the company, valued at approximately $3,197,579.10. This trade represents a 15.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider John Y. Kim sold 6,000 shares of Eversource Energy stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $73.57, for a total transaction of $441,420.00. Following the sale, the insider directly owned 12,339 shares in the company, valued at approximately $907,780.23. This trade represents a 32.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,381 shares of company stock valued at $1,211,079 over the last ninety days. Insiders own 0.41% 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.