Lazard Asset Management LLC Purchases 505,875 Shares of Eversource Energy $ES

Lazard Asset Management LLC raised its position in Eversource Energy (NYSE:ES) by 1,322.1% during the first quarter, Holdings Channel.com reports. The fund owned 544,139 shares of the utilities provider’s stock after purchasing an additional 505,875 shares during the quarter. Lazard Asset Management LLC’s holdings in Eversource Energy were worth $37,698,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of Eversource Energy by 1.0% during the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,831 shares of the utilities provider’s stock worth $999,000 after purchasing an additional 140 shares during the period. Tokio Marine Asset Management Co. Ltd. grew its stake in shares of Eversource Energy by 1.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,287 shares of the utilities provider’s stock worth $895,000 after purchasing an additional 142 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its holdings in Eversource Energy by 1.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 11,988 shares of the utilities provider’s stock valued at $807,000 after purchasing an additional 160 shares during the period. CIBC Private Wealth Group LLC increased its holdings in Eversource Energy by 1.1% during the 4th quarter. CIBC Private Wealth Group LLC now owns 14,483 shares of the utilities provider’s stock valued at $975,000 after purchasing an additional 162 shares during the period. Finally, Parallel Advisors LLC raised its position in Eversource Energy by 4.9% during the 3rd quarter. Parallel Advisors LLC now owns 3,636 shares of the utilities provider’s stock valued at $259,000 after purchasing an additional 169 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

Eversource Energy Price Performance

Shares of NYSE ES opened at $75.42 on Wednesday. Eversource Energy has a 1 year low of $61.53 and a 1 year high of $76.57. The stock has a market capitalization of $28.36 billion, a P/E ratio of 16.12, a P/E/G ratio of 4.94 and a beta of 0.70. The company’s 50-day moving average is $71.60 and its 200 day moving average is $70.66. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.65 and a quick ratio of 0.59.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data 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 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 quarterly revenue was up 9.4% compared to the same quarter last year. During the same period last year, the business posted $1.50 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, sell-side analysts expect that Eversource Energy will post 4.65 earnings per share for the current year.

Eversource Energy Announces Dividend

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

Analysts Set New Price Targets

ES has been the subject of several research analyst reports. Wells Fargo & Company increased their price objective on Eversource Energy from $75.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Scotiabank reduced their target price on 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. Weiss Ratings upgraded Eversource Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Bank of America restated a “buy” rating and set a $72.00 target price on shares of Eversource Energy in a report on Wednesday, April 22nd. Finally, BMO Capital Markets dropped their price target on Eversource Energy from $73.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $72.58.

Insider Activity

In other news, VP Gregory B. Butler sold 7,000 shares of the firm’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 value of $489,160.00. Following the completion of the transaction, the vice president owned 56,179 shares in the company, valued at $3,925,788.52. This trade represents a 11.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate 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.