Eversource Energy $ES Shares Acquired by CIBC Asset Management Inc

Key Points

• CIBC Asset Management increased its stake in Eversource Energy by 71.9% in the fourth quarter, buying an additional 37,109 shares and bringing its total holdings to 88,722 shares worth about $5.97 million.
• Eversource reported strong quarterly results, with EPS of $1.73 beating estimates and revenue of $4.50 billion topping forecasts; it also raised FY 2026 guidance to 4.57-4.72 EPS.
• The company announced a quarterly dividend of $0.7875 per share, implying an annualized yield of 4.5%, while analysts currently have a consensus rating of Hold with a target price of $71.70.

CIBC Asset Management Inc lifted its stake in Eversource Energy (NYSE:ES - Free Report) by 71.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 88,722 shares of the utilities provider's stock after purchasing an additional 37,109 shares during the quarter. CIBC Asset Management Inc's holdings in Eversource Energy were worth $5,974,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Alps Advisors Inc. boosted its position in shares of Eversource Energy by 5.4% during the 3rd quarter. Alps Advisors Inc. now owns 386,853 shares of the utilities provider's stock valued at $27,521,000 after acquiring an additional 19,795 shares during the last quarter. Aventail Capital Group LP increased its position in Eversource Energy by 134.6% during the third quarter. Aventail Capital Group LP now owns 1,366,121 shares of the utilities provider's stock worth $97,186,000 after purchasing an additional 783,768 shares during the last quarter. Russell Investments Group Ltd. boosted its holdings in Eversource Energy by 87.2% in the 3rd quarter. Russell Investments Group Ltd. now owns 1,060,902 shares of the utilities provider's stock valued at $75,461,000 after purchasing an additional 494,158 shares during the last quarter. Caprock Group LLC acquired a new position in Eversource Energy in the 3rd quarter valued at about $1,511,000. Finally, Legal & General Group Plc grew its stake in shares of Eversource Energy by 1.3% in the 3rd quarter. Legal & General Group Plc now owns 5,088,500 shares of the utilities provider's stock valued at $361,996,000 after buying an additional 63,466 shares during the period. Institutional investors and hedge funds own 79.99% of the company's stock.

Insider Transactions at Eversource Energy

In other news, VP Gregory B. Butler sold 7,000 shares of the company's stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $69.88, for a total transaction of $489,160.00. Following the sale, the vice president owned 56,179 shares of the company's stock, valued at approximately $3,925,788.52. This represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on ES shares. Bank of America reissued a "buy" rating and issued a $72.00 price target on shares of Eversource Energy in a research note on Wednesday, April 22nd. UBS Group lowered their price objective on Eversource Energy from $80.00 to $74.00 and set a "neutral" rating for the company in a research report on Friday, March 27th. JPMorgan Chase & Co. raised their target price on Eversource Energy from $72.00 to $75.00 and gave the stock an "underweight" rating in a research note on Thursday, March 12th. Seaport Research Partners downgraded Eversource Energy from a "buy" rating to a "neutral" rating in a research report on Monday, April 20th. Finally, BMO Capital Markets reduced their target price on Eversource Energy from $75.00 to $73.00 and set a "market perform" rating on the stock in a research report on Monday, May 11th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $71.70.

Eversource Energy Price Performance

ES opened at $70.56 on Friday. The firm has a market cap of $26.54 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 4.68 and a beta of 0.71. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The stock's 50-day moving average price is $68.81 and its 200 day moving average price is $69.29. Eversource Energy has a 12-month low of $61.53 and a 12-month high of $76.41.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.14. The company had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.21 billion. Eversource Energy had a net margin of 12.55% and a return on equity of 11.59%. The business's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.50 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, sell-side analysts expect that Eversource Energy will post 4.65 earnings per share for the current year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, May 18th will be paid a dividend of $0.7875 per share. The ex-dividend date is Monday, May 18th. This represents a $3.15 dividend on an annualized basis and a yield of 4.5%. Eversource Energy's dividend payout ratio is 67.31%.

Eversource Energy Company Profile

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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