California Public Employees Retirement System Trims Stock Holdings in Eversource Energy $ES

Key Points

• CalPERS trimmed its Eversource Energy stake by 1.6% in the first quarter, selling 16,145 shares and ending with 990,160 shares valued at about $68.6 million.
• Eversource reported stronger-than-expected quarterly results, posting EPS of $1.73 versus the $1.59 estimate and revenue of $4.50 billion, with revenue up 9.4% year over year.
• The company continues to offer an attractive dividend, recently paying $0.7875 per share quarterly for an annualized dividend of $3.15 and a yield of 4.2%, while Wall Street currently rates the stock a consensus “Hold.”

California Public Employees Retirement System reduced its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 1.6% in the first quarter, according to its most recent filing with the SEC. The fund owned 990,160 shares of the utilities provider's stock after selling 16,145 shares during the period. California Public Employees Retirement System owned about 0.26% of Eversource Energy worth $68,598,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Lodestone Wealth Management LLC purchased a new stake in Eversource Energy in the fourth quarter worth $25,000. Activest Wealth Management boosted its stake in shares of Eversource Energy by 2,337.5% during the fourth quarter. Activest Wealth Management now owns 390 shares of the utilities provider's stock valued at $26,000 after purchasing an additional 374 shares during the period. TFC Financial Management Inc. boosted its stake in shares of Eversource Energy by 2,857.1% during the fourth quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider's stock valued at $28,000 after purchasing an additional 400 shares during the period. Garton & Associates Financial Advisors LLC bought a new position in shares of Eversource Energy in the fourth quarter worth about $28,000. Finally, Key Capital Management INC bought a new position in shares of Eversource Energy in the fourth quarter worth about $29,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

Eversource Energy Trading Up 0.1%

Shares of NYSE:ES opened at $74.66 on Monday. The company has a market capitalization of $28.08 billion, a PE ratio of 15.95, a P/E/G ratio of 4.94 and a beta of 0.70. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. Eversource Energy has a 12-month low of $61.53 and a 12-month high of $76.41. The business's fifty day simple moving average is $70.72 and its 200-day simple moving average is $70.30.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share for the quarter, topping analysts' consensus estimates of $1.59 by $0.14. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The firm had revenue of $4.50 billion during the quarter, compared to analysts' expectations of $4.21 billion. During the same period in the prior year, the business posted $1.50 EPS. The firm's quarterly revenue was up 9.4% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, equities research analysts predict that Eversource Energy will post 4.65 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, May 18th were given a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, May 18th. Eversource Energy's dividend payout ratio is presently 67.31%.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ES. Mizuho decreased their price objective on shares of Eversource Energy from $75.00 to $70.00 and set a "neutral" rating for the company in a report on Thursday, March 26th. Scotiabank dropped their target price on shares of Eversource Energy from $66.00 to $63.00 and set a "sector underperform" rating on the stock in a research note on Tuesday, April 21st. Wells Fargo & Company raised their target price on shares of Eversource Energy from $75.00 to $76.00 and gave the stock an "overweight" rating in a research report on Thursday, July 2nd. Weiss Ratings raised shares of Eversource Energy from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, July 10th. Finally, Seaport Research Partners downgraded shares of Eversource Energy from a "buy" rating to a "neutral" rating in a research note on Monday, April 20th. Four research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, Eversource Energy presently has an average rating of "Hold" and an average target price of $71.91.

Insider Activity at Eversource Energy

In other news, VP Gregory B. Butler sold 7,000 shares of the firm's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $69.88, for a total value of $489,160.00. Following the sale, the vice president directly owned 56,179 shares in the company, valued at approximately $3,925,788.52. This trade represents a 11.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company's stock.

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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