Commerce Bank Takes $4.25 Million Position in Eversource Energy $ES

Key Points

• Commerce Bank acquired 58,839 shares of Eversource Energy during the second quarter, valued at approximately $4.25 million. Institutional investors collectively own about 79.99% of the company.
• Eversource reported quarterly earnings of $0.87 per share, matching analyst expectations, while revenue rose 2.3% year over year to $2.90 billion but fell short of estimates.
• The stock opened at $71.24, near analysts’ consensus target of $72.92. Analyst sentiment remains mixed, with four Buy, six Hold and three Sell ratings, resulting in an overall “Hold” consensus.

Commerce Bank bought a new position in Eversource Energy (NYSE:ES - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 58,839 shares of the utilities provider's stock, valued at approximately $4,252,000.

A number of other large investors have also bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Eversource Energy by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 47,512,198 shares of the utilities provider's stock worth $3,198,996,000 after purchasing an additional 697,829 shares during the last quarter. BlackRock Inc. bought a new position in shares of Eversource Energy in the second quarter valued at about $3,086,413,000. State Street Corp raised its holdings in shares of Eversource Energy by 4.7% in the fourth quarter. State Street Corp now owns 28,013,053 shares of the utilities provider's stock valued at $1,886,119,000 after buying an additional 1,265,802 shares during the last quarter. Geode Capital Management LLC lifted its position in Eversource Energy by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 9,635,907 shares of the utilities provider's stock worth $646,233,000 after buying an additional 194,781 shares in the last quarter. Finally, Victory Capital Management Inc. grew its holdings in Eversource Energy by 61.8% during the 4th 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 currently owned by institutional investors.

Eversource Energy Price Performance

Shares of ES stock opened at $71.24 on Tuesday. The stock has a 50-day moving average price of $72.75 and a 200 day moving average price of $71.02. 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 $26.84 billion, a price-to-earnings ratio of 18.46, a PEG ratio of 5.18 and a beta of 0.70. Eversource Energy has a 12 month low of $61.53 and a 12 month high of $76.57.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.87 earnings per share for the quarter, hitting the consensus estimate of $0.87. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%.The firm had revenue of $2.90 billion during the quarter, compared to analysts' expectations of $2.99 billion. During the same period in the previous year, the business posted $0.96 EPS. 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. Research analysts expect that Eversource Energy will post 4.64 EPS for the current year.

Insider Buying and Selling at Eversource Energy

In related news, VP Gregory B. Butler sold 7,000 shares of the business's stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $69.88, for a total transaction of $489,160.00. Following the completion of the sale, the vice president directly owned 56,179 shares of the company's stock, valued at $3,925,788.52. The trade was a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.18% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ES has been the subject of several research reports. Weiss Ratings upgraded shares of Eversource Energy from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, July 10th. BMO Capital Markets reduced their target price on shares of 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 shares of Eversource Energy from a "buy" rating to a "hold" rating in a research note on Friday, June 12th. Mizuho raised their price target on shares of Eversource Energy from $70.00 to $74.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Finally, Wells Fargo & Company boosted their price objective 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. Four 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's stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $72.92.

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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