Allworth Financial LP Makes New Investment in Eversource Energy $ES

Key Points

• Allworth Financial acquired 23,991 shares of Eversource Energy in the second quarter, valued at approximately $1.734 million. Institutional investors collectively own 79.99% of the utility company.
• Analyst sentiment remains mixed: four analysts rate Eversource a Buy, six a Hold and three a Sell. The consensus rating is Hold, with an average price target of $72.92.
• Eversource matched quarterly earnings expectations at $0.87 per share, while revenue rose 2.3% year over year to $2.90 billion but fell short of estimates. A company vice president separately sold 7,000 shares, and insiders own just 0.18% of the stock.

Allworth Financial LP acquired a new stake in Eversource Energy (NYSE:ES - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 23,991 shares of the utilities provider's stock, valued at approximately $1,734,000.

A number of other hedge funds have also recently made changes to their positions in ES. Elevation Wealth Partners LLC raised its stake in Eversource Energy by 220.2% in the second quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider's stock worth $25,000 after buying an additional 240 shares in the last quarter. Activest Wealth Management raised its stake in shares of Eversource Energy by 2,337.5% during the 4th quarter. Activest Wealth Management now owns 390 shares of the utilities provider's stock worth $26,000 after buying an additional 374 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in Eversource Energy in the 2nd quarter valued at $26,000. Garton & Associates Financial Advisors LLC acquired a new position in Eversource Energy during the fourth quarter worth $28,000. Finally, Godfrey Financial Associates Inc. acquired a new stake in Eversource Energy during the fourth quarter worth about $29,000. 79.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on ES shares. Weiss Ratings upgraded shares of Eversource Energy from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 10th. Wells Fargo & Company raised their price target on Eversource Energy from $75.00 to $76.00 and gave the stock an "overweight" rating in a research note on Thursday, July 2nd. Capital One Financial set a $73.00 target price on shares of Eversource Energy in a report on Wednesday, July 1st. BMO Capital Markets decreased their price target on shares of 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. Finally, Mizuho raised their target price on Eversource Energy from $70.00 to $74.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, Eversource Energy has an average rating of "Hold" and a consensus target price of $72.92.

Insider Buying and Selling

In other news, VP Gregory B. Butler sold 7,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $69.88, for a total value of $489,160.00. Following 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.18% of the stock is owned by corporate insiders.

Eversource Energy Stock Performance

Eversource Energy stock opened at $70.25 on Friday. The firm has a market capitalization of $26.46 billion, a P/E ratio of 18.20, a PEG ratio of 5.32 and a beta of 0.70. The stock has a fifty day moving average price of $72.71 and a 200 day moving average price of $70.98. Eversource Energy has a 52 week low of $61.53 and a 52 week high of $76.57. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.87. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%.The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period last year, the company earned $0.96 EPS. The firm's quarterly revenue was up 2.3% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Equities research analysts anticipate that Eversource Energy will post 4.64 earnings per share for the current year.

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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