Sumitomo Mitsui Trust Group Inc. Sells 31,965 Shares of Eversource Energy $ES

Sumitomo Mitsui Trust Group Inc. lessened its position in Eversource Energy (NYSE:ES) by 3.4% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 902,061 shares of the utilities provider’s stock after selling 31,965 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Eversource Energy were worth $62,495,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Empowered Funds LLC increased its stake in shares of Eversource Energy by 8.9% in the first quarter. Empowered Funds LLC now owns 16,149 shares of the utilities provider’s stock valued at $1,003,000 after buying an additional 1,319 shares during the period. Woodline Partners LP boosted its position in Eversource Energy by 40.8% during the 1st quarter. Woodline Partners LP now owns 30,988 shares of the utilities provider’s stock worth $1,925,000 after buying an additional 8,984 shares during the period. Acadian Asset Management LLC grew its holdings in Eversource Energy by 115.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,497 shares of the utilities provider’s stock worth $92,000 after acquiring an additional 801 shares during the last quarter. Schnieders Capital Management LLC. grew its holdings in Eversource Energy by 87.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,444 shares of the utilities provider’s stock worth $3,718,000 after acquiring an additional 27,332 shares during the last quarter. Finally, Brown Advisory Inc. increased its position in Eversource Energy by 4.6% in the 2nd quarter. Brown Advisory Inc. now owns 7,933 shares of the utilities provider’s stock valued at $505,000 after acquiring an additional 349 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Capital One Financial set a $73.00 price target on shares of Eversource Energy in a research note on Wednesday, July 1st. 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. Argus downgraded Eversource Energy from a “buy” rating to a “hold” rating in a report on Friday, June 12th. Wells Fargo & Company raised their target price on Eversource Energy from $75.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Finally, Bank of America reaffirmed a “buy” rating and set a $72.00 target price on shares of Eversource Energy in a report on Wednesday, April 22nd. Three 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’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $71.91.

Insider Buying and Selling

In other news, VP Gregory B. Butler sold 7,000 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president owned 56,179 shares in the company, 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 legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

Eversource Energy Trading Up 1.2%

Shares of NYSE:ES traded up $0.90 during midday trading on Friday, reaching $74.83. The company’s stock had a trading volume of 1,452,346 shares, compared to its average volume of 2,496,206. Eversource Energy has a fifty-two week low of $61.53 and a fifty-two week high of $76.41. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.65. The firm has a 50 day moving average price of $70.09 and a two-hundred day moving average price of $70.01. The firm has a market capitalization of $28.14 billion, a price-to-earnings ratio of 15.99, a PEG ratio of 4.95 and a beta of 0.70.

Eversource Energy (NYSE:ES) last released its earnings results on Wednesday, May 6th. The utilities provider reported $1.73 EPS for the quarter, topping the consensus estimate of $1.59 by $0.14. The business 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 firm’s revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the firm posted $1.50 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, analysts forecast that Eversource Energy will post 4.65 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th were paid a $0.7875 dividend. The ex-dividend date was Monday, May 18th. This represents a $3.15 annualized dividend and a dividend yield of 4.2%. Eversource Energy’s dividend payout ratio (DPR) 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.