Eversource Energy $ES Shares Acquired by Comerica Bank

Key Points

• Comerica Bank has increased its stake in Eversource Energy by 57.2%, holding 102,521 shares valued at approximately $6.37 million.
• Insider Loretta D. Keane purchased 3,780 shares for around $249,744, raising her ownership by 45.8% to a total value of $795,020.
• Analysts have raised price targets for Eversource Energy, with Mizuho setting a new target of $72 and Bank of America at $67, indicating positive growth expectations.

Comerica Bank raised its position in shares of Eversource Energy (NYSE:ES - Free Report) by 57.2% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 102,521 shares of the utilities provider's stock after purchasing an additional 37,318 shares during the quarter. Comerica Bank's holdings in Eversource Energy were worth $6,368,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in ES. Price T Rowe Associates Inc. MD grew its stake in Eversource Energy by 5.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 514,574 shares of the utilities provider's stock valued at $29,552,000 after purchasing an additional 25,316 shares during the last quarter. Quarry LP boosted its stake in shares of Eversource Energy by 207.4% in the fourth quarter. Quarry LP now owns 833 shares of the utilities provider's stock worth $48,000 after buying an additional 562 shares during the last quarter. Beacon Pointe Advisors LLC boosted its stake in shares of Eversource Energy by 3.5% in the fourth quarter. Beacon Pointe Advisors LLC now owns 8,571 shares of the utilities provider's stock worth $492,000 after buying an additional 291 shares during the last quarter. The Manufacturers Life Insurance Company boosted its stake in shares of Eversource Energy by 0.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 772,531 shares of the utilities provider's stock worth $44,366,000 after buying an additional 3,534 shares during the last quarter. Finally, Northern Trust Corp boosted its stake in shares of Eversource Energy by 18.0% in the fourth quarter. Northern Trust Corp now owns 3,699,583 shares of the utilities provider's stock worth $212,467,000 after buying an additional 564,409 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company's stock.

Analysts Set New Price Targets

ES has been the topic of a number of recent research reports. Bank of America upped their target price on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Mizuho upped their target price on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Finally, Wall Street Zen upgraded Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, Eversource Energy presently has an average rating of "Hold" and an average price target of $64.38.

Insiders Place Their Bets

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was bought at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the transaction, the insider owned 12,033 shares of the company's stock, valued at approximately $795,020.31. The trade was a 45.80% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.19% of the company's stock.

Eversource Energy Price Performance

Shares of Eversource Energy stock traded down $0.68 during mid-day trading on Tuesday, reaching $63.40. 836,873 shares of the stock traded hands, compared to its average volume of 2,677,257. The business has a 50-day moving average of $65.14 and a 200 day moving average of $62.65. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01. The stock has a market capitalization of $23.53 billion, a PE ratio of 27.20, a PEG ratio of 2.41 and a beta of 0.64. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.01. The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The business's revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the business earned $0.95 earnings per share. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.