Aberdeen Group plc Acquires 17,387 Shares of Eversource Energy $ES

Key Points

• Aberdeen Group plc increased its ownership of Eversource Energy by 2.6%, acquiring an additional 17,387 shares, bringing its total to 681,267 shares valued at $41.97 million.
• Several institutional investors, including Vanguard Group and Magellan Asset Management, have also increased their stakes in Eversource Energy, indicating strong institutional interest in the company.
• Eversource Energy reported earnings of $0.96 per share, exceeding analyst estimates of $0.95, with revenue growth of 12% year-over-year, although it fell short of the forecasted $3.01 billion.

Aberdeen Group plc raised its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 2.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 681,267 shares of the utilities provider's stock after acquiring an additional 17,387 shares during the quarter. Aberdeen Group plc owned approximately 0.19% of Eversource Energy worth $41,969,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Pinney & Scofield Inc. acquired a new stake in shares of Eversource Energy in the 4th quarter valued at about $33,000. Rossby Financial LCC acquired a new stake in shares of Eversource Energy in the 1st quarter valued at about $34,000. CoreCap Advisors LLC boosted its position in shares of Eversource Energy by 168.7% in the 4th quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 383 shares during the period. First Financial Corp IN raised its stake in Eversource Energy by 3,529.4% during the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 600 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in Eversource Energy during the 1st quarter valued at approximately $46,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have commented on ES shares. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Mizuho increased their target price on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Bank of America increased their target price on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, BMO Capital Markets upped their price target on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a report on Monday, April 28th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $65.56.

Eversource Energy Stock Up 1.6%

NYSE:ES traded up $1.0250 during mid-day trading on Friday, hitting $66.4450. The company had a trading volume of 410,802 shares, compared to its average volume of 2,655,810. The business has a fifty day simple moving average of $64.98 and a 200-day simple moving average of $62.41. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The firm has a market capitalization of $24.66 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 2.47 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Equities analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.