Corebridge Financial Inc. Sells 4,669 Shares of Eversource Energy $ES

Key Points

• Corebridge Financial Inc. reduced its stake in Eversource Energy by 3.9%, holding 113,658 shares worth approximately $7.06 million after selling 4,669 shares during the first quarter.
• Several institutional investors, including Comerica Bank and Allstate Corp, have significantly increased their positions in Eversource Energy, indicating robust institutional interest in the company.
• Wall Street analysts have various ratings for Eversource Energy, with three giving it a Buy rating, three a Hold rating, and three a Sell rating, resulting in an average rating of "Hold" and a consensus target price of $64.38.

Corebridge Financial Inc. decreased its holdings in Eversource Energy (NYSE:ES - Free Report) by 3.9% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 113,658 shares of the utilities provider's stock after selling 4,669 shares during the quarter. Corebridge Financial Inc.'s holdings in Eversource Energy were worth $7,059,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in ES. Nuveen LLC purchased a new position in Eversource Energy during the 1st quarter worth approximately $286,130,000. Vest Financial LLC purchased a new position in Eversource Energy during the 1st quarter worth approximately $60,273,000. Wellington Management Group LLP grew its position in Eversource Energy by 4.5% during the 1st quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider's stock worth $1,068,901,000 after purchasing an additional 739,448 shares in the last quarter. Northern Trust Corp grew its position in Eversource Energy by 18.0% during the 4th quarter. Northern Trust Corp now owns 3,699,583 shares of the utilities provider's stock worth $212,467,000 after purchasing an additional 564,409 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Eversource Energy by 11.3% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,269 shares of the utilities provider's stock worth $316,857,000 after purchasing an additional 561,055 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on ES shares. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Mizuho lifted their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Finally, Bank of America lifted their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat, Eversource Energy presently has a consensus rating of "Hold" and an average price target of $64.38.

Insider Transactions at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the acquisition, the insider owned 12,033 shares of the company's stock, valued at approximately $795,020.31. This trade represents a 45.80% increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company's stock.

Eversource Energy Stock Up 0.2%

Shares of Eversource Energy stock traded up $0.10 on Thursday, hitting $63.40. 2,202,047 shares of the company traded hands, compared to its average volume of 2,153,908. The company has a 50-day moving average price of $65.15 and a 200 day moving average price of $62.68. 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 has a 12-month low of $52.28 and a 12-month high of $69.01. The company has a market cap of $23.53 billion, a PE ratio of 27.21, a PEG ratio of 2.38 and a beta of 0.64.

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