Bank of America Corp DE Makes New Investment in Eversource Energy $ES

Key Points

• Bank of America acquired 1.47 million Eversource Energy shares worth approximately $106.1 million in the second quarter, representing about 0.39% of the utility company. Institutional investors collectively own roughly 80% of Eversource’s stock.
• Eversource reported quarterly earnings of $0.87 per share, in line with analyst expectations, while revenue reached $2.90 billion and increased 2.3% year over year. The company maintained fiscal 2026 EPS guidance of $4.57–$4.72.
• Eversource declared a quarterly dividend of $0.7875 per share, equating to an annualized $3.15 dividend and a 4.6% yield. Analysts have a consensus “Hold” rating and an average price target of $72.92.

Bank of America Corp DE acquired a new position in Eversource Energy (NYSE:ES - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,467,807 shares of the utilities provider's stock, valued at approximately $106,078,000. Bank of America Corp DE owned approximately 0.39% of Eversource Energy as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Elevation Wealth Partners LLC increased its stake in Eversource Energy by 220.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider's stock worth $25,000 after buying an additional 240 shares during the period. Edmond DE Rothschild Holding S.A. purchased a new stake in shares of Eversource Energy during the second quarter worth about $26,000. First Bancorp Inc ME acquired a new position in shares of Eversource Energy in the second quarter worth about $30,000. Godfrey Financial Associates Inc. acquired a new position in shares of Eversource Energy in the fourth quarter worth about $29,000. Finally, Keating Financial Advisory Services Inc. purchased a new position in Eversource Energy in the second quarter valued at about $36,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Performance

ES stock opened at $67.74 on Friday. Eversource Energy has a 1 year low of $63.44 and a 1 year high of $76.57. The stock has a market capitalization of $25.52 billion, a price-to-earnings ratio of 17.55, a PEG ratio of 2.99 and a beta of 0.69. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.80. The stock's fifty day moving average is $71.86 and its two-hundred day moving average is $70.75.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.87 earnings per share for the quarter, hitting analysts' consensus estimates of $0.87. The business had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.99 billion. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The company's revenue for the quarter was up 2.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 EPS. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, research analysts predict that Eversource Energy will post 4.65 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be given a dividend of $0.7875 per share. The ex-dividend date is Monday, September 21st. This represents a $3.15 annualized dividend and a dividend yield of 4.6%. Eversource Energy's payout ratio is currently 81.61%.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Capital One Financial set a $73.00 target price on Eversource Energy in a research report on Wednesday, July 1st. Weiss Ratings raised shares of Eversource Energy from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, August 31st. BMO Capital Markets dropped 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. Argus downgraded shares of Eversource Energy from a "buy" rating to a "hold" rating in a research note on Friday, June 12th. Finally, Mizuho increased their price objective on shares of Eversource Energy from $70.00 to $74.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, Eversource Energy has a consensus rating of "Hold" and a consensus target price of $72.92.

About Eversource Energy

Eversource Energy is a public utility holding company that delivers electricity and natural gas to residential, commercial and industrial customers in the northeastern United States. Through its regulated utility subsidiaries, the company operates electric distribution systems, natural gas distribution networks and electric transmission infrastructure.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire. Its operations include maintaining utility infrastructure, connecting customers to energy services, managing power delivery and investing in projects designed to support system reliability and the transition to cleaner energy.

The company traces its history to Northeast Utilities, which adopted the Eversource Energy name in 2015.

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