BI Asset Management Fondsmaeglerselskab A S Purchases 4,515 Shares of Eversource Energy $ES

Key Points

• BI Asset Management Fondsmaeglerselskab A S increased its stake in Eversource Energy by 39.8%, owning 15,866 shares worth approximately $985,000 following an additional purchase of 4,515 shares in the first quarter.
• Several institutional investors, including Vanguard Group Inc. and Wellington Management Group LLP, also augmented their holdings, highlighting a rising interest in Eversource Energy among major shareholders.
• Despite mixed analyst ratings, with a consensus rating of "Hold," Eversource Energy's stock recently saw a price target increase from $62.00 to $67.00 set by Bank of America.

BI Asset Management Fondsmaeglerselskab A S raised its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 39.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,866 shares of the utilities provider's stock after buying an additional 4,515 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Eversource Energy were worth $985,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Pinney & Scofield Inc. purchased a new position in shares of Eversource Energy during the fourth quarter worth about $33,000. Rossby Financial LCC purchased a new position in shares of Eversource Energy during the first quarter worth about $34,000. CoreCap Advisors LLC grew its holdings in shares of Eversource Energy by 168.7% during the fourth quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock worth $35,000 after purchasing an additional 383 shares in the last quarter. First Financial Corp IN grew its holdings in shares of Eversource Energy by 3,529.4% during the first quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock worth $38,000 after purchasing an additional 600 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new position in shares of Eversource Energy during the first quarter worth about $46,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

Eversource Energy Trading Up 0.9%

Shares of NYSE:ES traded up $0.60 during trading on Wednesday, reaching $64.71. 1,197,345 shares of the company traded hands, compared to its average volume of 2,690,480. The firm has a market capitalization of $24.02 billion, a price-to-earnings ratio of 27.76, a P/E/G ratio of 2.38 and a beta of 0.61. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. The business's fifty day moving average is $65.00 and its 200-day moving average is $62.56.

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

Wall Street Analysts Forecast Growth

Several analysts have issued reports on ES shares. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. 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, 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. Three analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $64.38.

Insider Activity at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane bought 3,780 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was bought at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the acquisition, the insider directly owned 12,033 shares in the company, valued at $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Eversource Energy Company 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.