Credit Agricole S A Acquires 8,555 Shares of Eversource Energy $ES

Key Points

• Credit Agricole S A increased its holdings in Eversource Energy by 6.5%, owning 140,243 shares valued at approximately $8.71 million after purchasing additional shares in the first quarter.
• A significant influx of institutional investment was observed, with Nuveen LLC acquiring a new position valued at $286.13 million, among others, contributing to hedge funds and institutional investors owning nearly 80% of the company's stock.
• Eversource Energy reported a quarterly earnings per share of $0.96, slightly surpassing analyst expectations, with an annual revenue increase of 12% compared to the previous year, despite a revenue figure of $2.84 billion falling short of projections.

Credit Agricole S A increased its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 6.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 140,243 shares of the utilities provider's stock after purchasing an additional 8,555 shares during the period. Credit Agricole S A's holdings in Eversource Energy were worth $8,710,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its position in Eversource Energy by 0.8% during the first quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider's stock worth $2,792,559,000 after acquiring an additional 351,780 shares during the last quarter. Wellington Management Group LLP lifted its position in Eversource Energy by 4.5% during the first quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider's stock worth $1,068,901,000 after acquiring an additional 739,448 shares during the last quarter. Magellan Asset Management Ltd lifted its position in Eversource Energy by 6.2% during the first quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider's stock worth $427,090,000 after acquiring an additional 401,866 shares during the last quarter. Invesco Ltd. lifted its position in Eversource Energy by 0.5% during the first quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider's stock worth $374,920,000 after acquiring an additional 32,304 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eversource Energy by 11.3% during the fourth 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 acquiring an additional 561,055 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Price Performance

Shares of NYSE ES traded up $1.0750 during midday trading on Friday, reaching $66.4950. 1,526,442 shares of the company were exchanged, compared to its average volume of 2,013,039. The stock's 50-day moving average price is $65.00 and its 200-day moving average price is $62.49. The stock has a market cap of $24.68 billion, a P/E ratio of 28.54, a PEG ratio of 2.50 and a beta of 0.61. Eversource Energy has a one year low of $52.28 and a one year high of $69.01. 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 earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter in the previous year, the firm posted $0.95 earnings per share. The company'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. On average, sell-side analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ES has been the subject of a number of analyst reports. Mizuho lifted their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. BMO Capital Markets lifted their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. Bank of America lifted their price target on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Finally, Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $64.38.

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.