Bank of New York Mellon Corp Purchases 170,887 Shares of Eversource Energy $ES

Key Points

• Bank of New York Mellon increased its Eversource Energy stake by 6.0% in the first quarter, buying 170,887 additional shares and bringing its holdings to 3,004,763 shares worth about $208.2 million.
• Eversource’s latest earnings beat expectations, with quarterly EPS of $1.73 versus the $1.59 estimate and revenue of $4.50 billion, up 9.4% year over year. The company also reaffirmed FY2026 EPS guidance of 4.57 to 4.72.
• The stock is trading near its 52-week high at $74.66, and analysts currently rate it Hold on average with a consensus price target of $71.91. Eversource also paid a quarterly dividend of $0.7875, implying a 4.2% annual yield.

Bank of New York Mellon Corp raised its position in shares of Eversource Energy (NYSE:ES - Free Report) by 6.0% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,004,763 shares of the utilities provider's stock after purchasing an additional 170,887 shares during the quarter. Bank of New York Mellon Corp owned 0.80% of Eversource Energy worth $208,170,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ES. Sanctuary Advisors LLC raised its holdings in Eversource Energy by 10.4% in the 1st quarter. Sanctuary Advisors LLC now owns 118,262 shares of the utilities provider's stock worth $8,193,000 after acquiring an additional 11,127 shares during the last quarter. Sigma Planning Corp boosted its stake in Eversource Energy by 50.9% during the 1st quarter. Sigma Planning Corp now owns 6,149 shares of the utilities provider's stock valued at $426,000 after purchasing an additional 2,074 shares during the last quarter. Checchi Capital Advisers LLC boosted its stake in Eversource Energy by 23.1% during the 1st quarter. Checchi Capital Advisers LLC now owns 4,487 shares of the utilities provider's stock valued at $311,000 after purchasing an additional 841 shares during the last quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its holdings in shares of Eversource Energy by 28.4% in the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 11,864 shares of the utilities provider's stock worth $822,000 after purchasing an additional 2,622 shares in the last quarter. Finally, Bleakley Financial Group LLC bought a new stake in shares of Eversource Energy in the 1st quarter worth $759,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ES. Seaport Research Partners downgraded Eversource Energy from a "buy" rating to a "neutral" rating in a report on Monday, April 20th. Capital One Financial set a $73.00 price objective on Eversource Energy in a report on Wednesday, July 1st. UBS Group decreased their target price on Eversource Energy from $80.00 to $74.00 and set a "neutral" rating for the company in a research report on Friday, March 27th. Argus cut shares of Eversource Energy from a "buy" rating to a "hold" rating in a research note on Friday, June 12th. Finally, Wells Fargo & Company raised their price target on shares of Eversource Energy from $75.00 to $76.00 and gave the company an "overweight" rating in a report on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $71.91.

Insider Transactions at Eversource Energy

In related news, VP Gregory B. Butler sold 7,000 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $69.88, for a total transaction of $489,160.00. Following the completion of the sale, the vice president directly owned 56,179 shares in the company, valued at approximately $3,925,788.52. The trade was a 11.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.18% of the company's stock.

Eversource Energy Stock Down 0.5%

Eversource Energy stock opened at $74.66 on Friday. Eversource Energy has a one year low of $61.53 and a one year high of $76.41. The stock has a fifty day moving average of $70.72 and a 200 day moving average of $70.28. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.65. The stock has a market cap of $28.08 billion, a PE ratio of 15.95, a price-to-earnings-growth ratio of 4.94 and a beta of 0.70.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.14. The business had revenue of $4.50 billion for the quarter, compared to analysts' expectations of $4.21 billion. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The business's revenue for the quarter was up 9.4% on a year-over-year basis. During the same period last year, the firm posted $1.50 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, sell-side 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 was paid on Tuesday, June 30th. Investors of record on Monday, May 18th were issued a $0.7875 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.2%. Eversource Energy's dividend payout ratio (DPR) is presently 67.31%.

Eversource Energy 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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