Citizens Financial Group Inc. RI Buys New Holdings in Eversource Energy $ES

Citizens Financial Group Inc. RI 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 & Exchange Commission. The institutional investor purchased 16,085 shares of the utilities provider's stock, valued at approximately $1,162,000.

A number of other large investors also recently modified their holdings of the company. Empowered Funds LLC increased its position in Eversource Energy by 8.9% during the 1st quarter. Empowered Funds LLC now owns 16,149 shares of the utilities provider's stock worth $1,003,000 after purchasing an additional 1,319 shares in the last quarter. Woodline Partners LP lifted its position in Eversource Energy by 40.8% during the first quarter. Woodline Partners LP now owns 30,988 shares of the utilities provider's stock valued at $1,925,000 after buying an additional 8,984 shares in the last quarter. Acadian Asset Management LLC grew its stake in Eversource Energy by 115.1% during the first quarter. Acadian Asset Management LLC now owns 1,497 shares of the utilities provider's stock worth $92,000 after buying an additional 801 shares during the period. Schnieders Capital Management LLC. grew its stake in Eversource Energy by 87.9% during the second quarter. Schnieders Capital Management LLC. now owns 58,444 shares of the utilities provider's stock worth $3,718,000 after buying an additional 27,332 shares during the period. Finally, Brown Advisory Inc. increased its position in shares of Eversource Energy by 4.6% in the second quarter. Brown Advisory Inc. now owns 7,933 shares of the utilities provider's stock worth $505,000 after acquiring an additional 349 shares in the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Mizuho upped their price target on shares of Eversource Energy from $70.00 to $74.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. BMO Capital Markets cut their price objective 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 cut Eversource Energy from a "buy" rating to a "hold" rating in a research note on Friday, June 12th. Scotiabank decreased their target price on Eversource Energy from $66.00 to $63.00 and set a "sector underperform" rating for the company in a research report on Tuesday, April 21st. Finally, Bank of America reiterated a "buy" rating and issued a $72.00 target price on shares of Eversource Energy in a research note on Wednesday, April 22nd. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $72.92.

Insider Activity

In related news, VP Gregory B. Butler sold 7,000 shares of the firm's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $69.88, for a total transaction of $489,160.00. Following the transaction, the vice president directly owned 56,179 shares in the company, valued at $3,925,788.52. This trade represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.18% of the company's stock.

Eversource Energy Stock Up 0.5%

Shares of Eversource Energy stock opened at $72.27 on Wednesday. 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 firm has a market cap of $27.22 billion, a P/E ratio of 18.72, a P/E/G ratio of 5.34 and a beta of 0.70. Eversource Energy has a fifty-two week low of $61.53 and a fifty-two week high of $76.57. The business has a 50-day moving average price of $72.55 and a 200 day moving average price of $70.94.

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

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source