Eversource Energy $ES Shares Acquired by Allstate Corp

Key Points

• Allstate Corp increased its stake in Eversource Energy by 74.9%, holding a total of 19,106 shares worth approximately $1,187,000 as of the latest reporting period.
• Eversource Energy reported earnings of $0.96 per share, exceeding analyst expectations, and reported a 12.0% increase in revenue compared to the previous year.
• As of the latest updates, Eversource Energy's stock has a market cap of $24.68 billion and a price-to-earnings ratio of 28.54.

Allstate Corp increased its position in Eversource Energy (NYSE:ES - Free Report) by 74.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,106 shares of the utilities provider's stock after acquiring an additional 8,179 shares during the period. Allstate Corp's holdings in Eversource Energy were worth $1,187,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Norinchukin Bank The grew its holdings in shares of Eversource Energy by 18.1% in the 1st quarter. Norinchukin Bank The now owns 22,974 shares of the utilities provider's stock worth $1,427,000 after acquiring an additional 3,517 shares during the period. CW Advisors LLC grew its holdings in shares of Eversource Energy by 5.2% in the 1st quarter. CW Advisors LLC now owns 5,980 shares of the utilities provider's stock worth $371,000 after acquiring an additional 298 shares during the period. United Asset Strategies Inc. acquired a new stake in shares of Eversource Energy in the 1st quarter worth approximately $873,000. EntryPoint Capital LLC purchased a new stake in Eversource Energy in the 1st quarter valued at approximately $313,000. Finally, Credit Agricole S A lifted its stake in Eversource Energy by 6.5% in the 1st quarter. Credit Agricole S A now owns 140,243 shares of the utilities provider's stock valued at $8,710,000 after buying an additional 8,555 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Insider Buying and Selling at Eversource Energy

In other news, insider Loretta D. Keane bought 3,780 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average cost of $66.07 per share, with a total value of $249,744.60. Following the transaction, the insider owned 12,033 shares of the company's stock, valued at $795,020.31. This represents a 45.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms recently issued reports on ES. Mizuho upped their target price on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Finally, Bank of America upped their target price on Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Eversource Energy presently has a consensus rating of "Hold" and a consensus price target of $64.38.

Eversource Energy Trading Down 0.4%

Shares of Eversource Energy stock traded down $0.26 during trading hours on Friday, reaching $64.04. 478,748 shares of the company's stock were exchanged, compared to its average volume of 2,680,603. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.01. The firm has a market capitalization of $23.76 billion, a price-to-earnings ratio of 27.49, a price-to-earnings-growth ratio of 2.44 and a beta of 0.61. The company has a fifty day moving average of $65.09 and a 200-day moving average of $62.60. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly 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 return on equity of 11.00% and a net margin of 6.60%.The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the company posted $0.95 EPS. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Sell-side analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal 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.