Legal & General Group Plc Has $341.76 Million Stock Position in Eversource Energy $ES

Legal & General Group Plc reduced its holdings in Eversource Energy (NYSE:ES) by 0.2% in the 4th quarter, HoldingsChannel reports. The fund owned 5,075,915 shares of the utilities provider’s stock after selling 12,585 shares during the period. Legal & General Group Plc’s holdings in Eversource Energy were worth $341,761,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Alps Advisors Inc. increased its position in Eversource Energy by 5.4% in the 3rd quarter. Alps Advisors Inc. now owns 386,853 shares of the utilities provider’s stock valued at $27,521,000 after acquiring an additional 19,795 shares during the period. Russell Investments Group Ltd. increased its position in Eversource Energy by 87.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,060,902 shares of the utilities provider’s stock valued at $75,461,000 after acquiring an additional 494,158 shares during the period. Aventail Capital Group LP increased its position 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 valued at $97,186,000 after acquiring an additional 783,768 shares during the period. Caprock Group LLC acquired a new position in Eversource Energy in the 3rd quarter valued at approximately $1,511,000. Finally, Brick & Kyle Associates acquired a new position in Eversource Energy in the 3rd quarter valued at approximately $7,067,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the stock. Seaport Research Partners lowered shares of Eversource Energy from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. upped their price objective on shares of Eversource Energy from $72.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, March 12th. Scotiabank reduced their price objective on shares of Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating on the stock in a research note on Tuesday, April 21st. Bank of America reaffirmed a “buy” rating and issued a $72.00 price objective on shares of Eversource Energy in a research note on Wednesday, April 22nd. Finally, UBS Group reduced their price objective on shares of Eversource Energy from $80.00 to $74.00 and set a “neutral” rating on the stock in a research note on Friday, March 27th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and an average target price of $71.70.

Eversource Energy Trading Down 0.2%

NYSE:ES opened at $69.83 on Wednesday. The firm has a market cap of $26.26 billion, a P/E ratio of 14.92, a P/E/G ratio of 4.64 and a beta of 0.74. Eversource Energy has a 52 week low of $61.53 and a 52 week high of $76.41. The firm’s fifty day moving average is $68.93 and its 200-day moving average is $69.49. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.65.

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

Eversource Energy Announces Dividend

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

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.