50,020 Shares in Eversource Energy $ES Bought by ING Groep NV

Key Points

• ING Groep NV initiated a new position in Eversource Energy, buying 50,020 shares worth about $3.37 million in the fourth quarter.
• Institutional ownership remains heavy, with large investors like Vanguard and Geode adding shares; overall, 79.99% of Eversource stock is held by institutions and hedge funds.
• Eversource reported better-than-expected Q1 results and maintained dividend appeal, including a $0.7875 quarterly dividend that annualizes to $3.15 per share for a 4.6% yield. Meanwhile, analysts currently rate the stock a Hold on average.

ING Groep NV bought a new position in shares of Eversource Energy (NYSE:ES - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 50,020 shares of the utilities provider's stock, valued at approximately $3,368,000.

A number of other large investors have also bought and sold shares of the stock. Vanguard Group Inc. grew its holdings in Eversource Energy by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 47,512,198 shares of the utilities provider's stock worth $3,198,996,000 after purchasing an additional 697,829 shares during the period. Geode Capital Management LLC grew its holdings in Eversource Energy by 2.1% in the fourth quarter. Geode Capital Management LLC now owns 9,635,907 shares of the utilities provider's stock worth $646,233,000 after purchasing an additional 194,781 shares during the period. Magellan Asset Management Ltd grew its holdings in Eversource Energy by 6.5% in the third quarter. Magellan Asset Management Ltd now owns 7,406,785 shares of the utilities provider's stock worth $526,919,000 after purchasing an additional 454,658 shares during the period. Victory Capital Management Inc. grew its holdings in Eversource Energy by 9.4% in the third quarter. Victory Capital Management Inc. now owns 5,900,662 shares of the utilities provider's stock worth $419,773,000 after purchasing an additional 505,489 shares during the period. Finally, Legal & General Group Plc grew its holdings in Eversource Energy by 1.3% in the third quarter. Legal & General Group Plc now owns 5,088,500 shares of the utilities provider's stock worth $361,996,000 after purchasing an additional 63,466 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ES shares. Seaport Research Partners cut shares of Eversource Energy from a "buy" rating to a "neutral" rating in a report on Monday, April 20th. JPMorgan Chase & Co. raised their price target on shares of Eversource Energy from $72.00 to $75.00 and gave the stock an "underweight" rating in a report on Thursday, March 12th. Argus upgraded shares of Eversource Energy to a "strong-buy" rating in a report on Tuesday, March 24th. BMO Capital Markets reduced their price target on shares of Eversource Energy from $75.00 to $73.00 and set a "market perform" rating for the company in a report on Monday, May 11th. Finally, UBS Group reduced their price target on shares of Eversource Energy from $80.00 to $74.00 and set a "neutral" rating for the company in a report on Friday, March 27th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, Eversource Energy presently has a consensus rating of "Hold" and an average target price of $71.70.

Insider Activity

In other news, VP Gregory B. Butler sold 7,000 shares of Eversource Energy stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $69.88, for a total transaction of $489,160.00. Following the completion of the transaction, the vice president directly owned 56,179 shares in the company, valued at $3,925,788.52. This trade represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Eversource Energy Stock Down 3.6%

Shares of NYSE ES opened at $68.09 on Tuesday. The stock has a market capitalization of $25.61 billion, a P/E ratio of 14.55, a P/E/G ratio of 4.68 and a beta of 0.72. The company has a 50-day moving average price of $68.82 and a 200-day moving average price of $69.21. Eversource Energy has a 1 year low of $61.53 and a 1 year high of $76.41. 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 - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.59 by $0.14. The firm had revenue of $4.50 billion during the quarter, compared to analysts' expectations of $4.21 billion. Eversource Energy had a net margin of 12.55% and a return on equity of 11.59%. The business's revenue was up 9.4% on a year-over-year basis. During the same period last year, the company earned $1.50 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, equities research analysts forecast that Eversource Energy will post 4.65 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th will be issued a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.6%. The ex-dividend date is Monday, May 18th. Eversource Energy's dividend payout ratio (DPR) is currently 67.31%.

Eversource Energy Company 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.

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