American Century Companies Inc. Cuts Stake in Eversource Energy $ES

Key Points

• American Century Companies Inc. reduced its stake in Eversource Energy by 17.0%, selling 785,480 shares, and now owns 3,821,997 shares worth approximately $237 million.
• Analysts have raised their target prices for Eversource Energy, with Bank of America setting a new target of $67.00 and Mizuho setting it at $72.00, while the consensus rating remains a "Hold".
• In Q2, Eversource Energy reported earnings of $0.96 per share, exceeding expectations and showing a 12.0% year-over-year revenue increase despite lower revenue than anticipated.

American Century Companies Inc. lessened its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 17.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,821,997 shares of the utilities provider's stock after selling 785,480 shares during the period. American Century Companies Inc. owned 1.04% of Eversource Energy worth $237,384,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of ES. Pinney & Scofield Inc. purchased a new stake in Eversource Energy during the 4th quarter valued at about $33,000. Rossby Financial LCC acquired a new position in Eversource Energy in the 1st quarter valued at about $34,000. CoreCap Advisors LLC boosted its holdings in 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 last quarter. First Financial Corp IN boosted its holdings in Eversource Energy by 3,529.4% in the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 600 shares during the last quarter. Finally, Zions Bancorporation National Association UT acquired a new position in Eversource Energy in the 1st quarter valued at about $46,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

Eversource Energy Trading Up 0.1%

Shares of ES stock traded up $0.09 during trading hours on Wednesday, hitting $65.80. The company had a trading volume of 772,068 shares, compared to its average volume of 2,671,079. The company's fifty day moving average is $64.98 and its 200 day moving average is $62.34. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01. The stock has a market capitalization of $24.42 billion, a PE ratio of 28.24, a price-to-earnings-growth ratio of 2.43 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the business posted $0.95 EPS. The business'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. Research analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

ES has been the topic of several recent analyst reports. Bank of America boosted their target price on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Mizuho boosted their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Finally, BMO Capital Markets boosted their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a report on Monday, April 28th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Eversource Energy has a consensus rating of "Hold" and a consensus target price of $65.56.

Eversource Energy Profile

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.