Cibc World Market Inc. Invests $1.10 Million in Eversource Energy $ES

Key Points

• CIBC World Markets purchased 15,253 shares of Eversource Energy valued at approximately $1.10 million, while institutional investors collectively own 79.99% of the company.
• Eversource shares opened at $70.86, down 1.1%, with the stock trading between a 12-month low of $62.45 and high of $76.57. The company met quarterly EPS expectations at $0.87, though revenue of $2.90 billion fell short of estimates.
• Analyst sentiment remains cautious, with an overall “Hold” rating and a consensus price target of $72.92; ratings include four Buys, six Holds, and three Sells.

Cibc World Market Inc. purchased a new position in shares of Eversource Energy (NYSE:ES - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 15,253 shares of the utilities provider's stock, valued at approximately $1,102,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. BlackRock Inc. purchased a new stake in Eversource Energy in the 2nd quarter worth approximately $3,086,413,000. Norges Bank purchased a new position in shares of Eversource Energy during the 4th quarter valued at $324,032,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of Eversource Energy by 23,707.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,649,747 shares of the utilities provider's stock worth $313,067,000 after acquiring an additional 4,630,216 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Eversource Energy in the second quarter worth $311,548,000. Finally, Victory Capital Management Inc. increased its stake in shares of Eversource Energy by 61.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider's stock worth $642,747,000 after acquiring an additional 3,645,555 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Stock Down 1.1%

Shares of Eversource Energy stock opened at $70.86 on Friday. Eversource Energy has a 12-month low of $62.45 and a 12-month high of $76.57. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.63. The stock has a 50 day moving average price of $72.86 and a two-hundred day moving average price of $71.09. The stock has a market capitalization of $26.69 billion, a P/E ratio of 18.36, a PEG ratio of 5.29 and a beta of 0.70.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.87 EPS for the quarter, meeting analysts' consensus estimates of $0.87. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the firm posted $0.96 earnings per share. The company's quarterly revenue was up 2.3% compared to the same quarter last year. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Equities analysts expect that Eversource Energy will post 4.64 earnings per share for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. Mizuho lifted their price objective on Eversource Energy from $70.00 to $74.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. BMO Capital Markets dropped their target price on Eversource Energy from $73.00 to $72.00 and set a "market perform" rating on the stock in a research report on Wednesday, July 22nd. Argus downgraded Eversource Energy from a "buy" rating to a "hold" rating in a research note on Friday, June 12th. Capital One Financial set a $73.00 price target on Eversource Energy in a report on Wednesday, July 1st. Finally, Citigroup reissued a "hold" rating and issued a $81.00 price target on shares of Eversource Energy in a research note on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, Eversource Energy has an average rating of "Hold" and a consensus price target of $72.92.

Insider Transactions at Eversource Energy

In related news, VP Gregory B. Butler sold 7,000 shares of Eversource Energy stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $69.88, for a total value of $489,160.00. Following the transaction, the vice president owned 56,179 shares in the company, valued at $3,925,788.52. This trade represents a 11.08% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.18% of the company's stock.

About Eversource Energy

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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