Amundi Decreases Stake in Eversource Energy $ES

Key Points

• Amundi has reduced its stake in Eversource Energy by 0.1% in Q1, retaining ownership of approximately 6.48 million shares valued at $401 million.
• Analysts have set new price targets for Eversource Energy, with Mizuho increasing its target from $68 to $72 and Bank of America raising theirs from $62 to $67, reflecting a generally neutral to positive outlook.
• Corporate insiders are also active, with Loretta D. Keane purchasing 3,780 shares at an average price of $66.07, resulting in an increase of 45.8% in her ownership of the stock.

Amundi cut its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 0.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,478,568 shares of the utilities provider's stock after selling 3,978 shares during the quarter. Amundi owned approximately 1.76% of Eversource Energy worth $401,153,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinney & Scofield Inc. bought a new position in shares of Eversource Energy during the fourth quarter valued at approximately $33,000. Rossby Financial LCC bought a new position in shares of Eversource Energy during the first quarter valued at approximately $34,000. CoreCap Advisors LLC boosted its stake in shares of Eversource Energy by 168.7% during the fourth quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 383 shares in the last quarter. First Financial Corp IN boosted its stake in shares of Eversource Energy by 3,529.4% during the first 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 in the last quarter. Finally, Zions Bancorporation National Association UT bought a new position in shares of Eversource Energy during the first quarter valued at approximately $46,000. 79.99% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Bank of America increased their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Finally, Mizuho raised their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $64.38.

Insider Activity

In related news, insider Loretta D. Keane purchased 3,780 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was acquired at an average price of $66.07 per share, with a total value of $249,744.60. Following the completion of the acquisition, the insider owned 12,033 shares in the company, valued at approximately $795,020.31. This represents a 45.80% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Corporate insiders own 0.41% of the company's stock.

Eversource Energy Stock Up 0.1%

ES traded up $0.07 during trading on Friday, hitting $63.49. The stock had a trading volume of 1,653,333 shares, compared to its average volume of 2,186,111. The company has a market capitalization of $23.56 billion, a PE ratio of 27.25, a PEG ratio of 2.39 and a beta of 0.64. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $68.73. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71. The stock has a 50 day simple moving average of $65.15 and a two-hundred day simple moving average of $62.69.

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 for the quarter, beating the consensus estimate of $0.95 by $0.01. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. Eversource Energy's revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $0.95 earnings per share. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, research analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

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.