Cohen & Steers Inc. Invests $104.85 Million in Eversource Energy $ES

Key Points

• Cohen & Steers Inc. opened a new position in Eversource Energy in the fourth quarter, buying 1,557,233 shares valued at about $104.85 million. The stake represented roughly 0.42% of the company.
• Wall Street sentiment is mixed: the stock has a Hold consensus rating with a consensus price target of $71.70, after several firms trimmed targets or downgraded the shares. Analysts currently split between 3 Buy, 6 Hold, and 3 Sell ratings.
• Eversource recently posted better-than-expected quarterly results, with EPS of $1.73 versus $1.59 estimated and revenue up 9.4% year over year. The company also announced a quarterly dividend of $0.7875 per share, implying an annualized yield of about 4.6%.

Cohen & Steers Inc. purchased a new position in Eversource Energy (NYSE:ES - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 1,557,233 shares of the utilities provider's stock, valued at approximately $104,848,000. Cohen & Steers Inc. owned about 0.42% of Eversource Energy at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Lodestone Wealth Management LLC purchased a new position in shares of Eversource Energy in the fourth quarter worth $25,000. Activest Wealth Management increased its position in 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 acquiring an additional 374 shares during the last quarter. TFC Financial Management Inc. increased its position in 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 acquiring an additional 400 shares during the last quarter. Key Capital Management INC purchased a new stake in Eversource Energy during the fourth quarter valued at $29,000. Finally, Godfrey Financial Associates Inc. purchased a new stake in Eversource Energy during the fourth quarter valued at $29,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on ES shares. Seaport Research Partners cut Eversource Energy from a "buy" rating to a "neutral" rating in a research report on Monday, April 20th. Bank of America reiterated a "buy" rating and set a $72.00 price objective on shares of Eversource Energy in a research report on Wednesday, April 22nd. BMO Capital Markets reduced their price objective on Eversource Energy from $75.00 to $73.00 and set a "market perform" rating for the company in a research report on Monday, May 11th. Mizuho reduced their price objective on Eversource Energy from $75.00 to $70.00 and set a "neutral" rating for the company in a research report on Thursday, March 26th. Finally, UBS Group reduced their price objective 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. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $71.70.

Eversource Energy Stock Performance

NYSE:ES opened at $68.70 on Friday. The stock has a 50-day simple moving average of $68.83 and a two-hundred day simple moving average of $69.30. Eversource Energy has a 52-week low of $61.53 and a 52-week high of $76.41. 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 firm has a market capitalization of $25.84 billion, a PE ratio of 14.68, a P/E/G ratio of 4.53 and a beta of 0.71.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.59 by $0.14. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The business had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the previous year, the company posted $1.50 earnings per share. Eversource Energy's revenue for the quarter was up 9.4% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Analysts forecast that Eversource Energy will post 4.65 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th will be paid a $0.7875 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.6%. Eversource Energy's dividend payout ratio is 67.31%.

Insider Buying and Selling at Eversource Energy

In other news, VP Gregory B. Butler sold 7,000 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $69.88, for a total value of $489,160.00. Following the completion of the transaction, the vice president owned 56,179 shares of the company's stock, valued at $3,925,788.52. This represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

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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