Concurrent Investment Advisors LLC Increases Stock Holdings in Eversource Energy $ES

Key Points

• Concurrent Investment Advisors increased its Eversource Energy stake by 32% in the second quarter, owning 108,262 shares valued at approximately $7.8 million. Institutional investors collectively hold about 79.99% of the company.
• Analyst sentiment remains mixed, with a consensus rating of “Hold” and an average price target of $72.92. Recent targets range from $72 to $76, including a downgrade from Argus and upgrades from Wells Fargo and Mizuho.
• Eversource shares opened at $71.00, near their 200-day moving average of $71.11. The company matched quarterly earnings expectations at $0.87 per share, while revenue rose 2.3% year over year to $2.90 billion but fell short of estimates.

Concurrent Investment Advisors LLC boosted its stake in Eversource Energy (NYSE:ES - Free Report) by 32.0% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 108,262 shares of the utilities provider's stock after acquiring an additional 26,261 shares during the quarter. Concurrent Investment Advisors LLC's holdings in Eversource Energy were worth $7,824,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Elevation Wealth Partners LLC lifted its holdings in Eversource Energy by 220.2% during the second quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 240 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Eversource Energy in the second quarter valued at about $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Eversource Energy during the fourth quarter worth about $28,000. Godfrey Financial Associates Inc. purchased a new stake in shares of Eversource Energy during the fourth quarter worth about $29,000. Finally, First Bancorp Inc ME purchased a new stake in shares of Eversource Energy during the second quarter worth about $30,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ES. Capital One Financial set a $73.00 price target on shares of Eversource Energy in a research note on Wednesday, July 1st. Argus lowered Eversource Energy from a "buy" rating to a "hold" rating in a research note on Friday, June 12th. BMO Capital Markets reduced their target price on Eversource Energy from $73.00 to $72.00 and set a "market perform" rating for the company in a report on Wednesday, July 22nd. Wells Fargo & Company raised their target price on Eversource Energy from $75.00 to $76.00 and gave the company an "overweight" rating in a research report on Thursday, July 2nd. Finally, Mizuho raised their target price on Eversource Energy from $70.00 to $74.00 and gave the company a "neutral" rating in a research report on Monday, August 3rd. Four 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 MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $72.92.

Eversource Energy Price Performance

Shares of NYSE ES opened at $71.00 on Friday. The firm has a 50-day simple moving average of $72.80 and a 200-day simple moving average of $71.11. 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 market capitalization of $26.74 billion, a price-to-earnings ratio of 18.39, a price-to-earnings-growth ratio of 3.08 and a beta of 0.69. Eversource Energy has a 52 week low of $62.45 and a 52 week high of $76.57.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.87 earnings per share for the quarter, hitting analysts' consensus estimates of $0.87. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same period in the previous year, the business posted $0.96 earnings per share. Eversource Energy's quarterly revenue was up 2.3% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, equities analysts predict that Eversource Energy will post 4.65 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.

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