Eversource Energy $ES Shares Purchased by Panagora Asset Management Inc.

Key Points

• Panagora Asset Management Inc. increased its ownership in Eversource Energy by 148.6%, acquiring 161,785 additional shares to hold a total of 270,663 shares valued at approximately $16.8 million.
• The stock has undergone various analyst rating changes, with a recent upgrade from "sell" to "hold," and significant price target increases from firms such as Mizuho and Bank of America.
• Eversource Energy reported earnings per share of $0.96, surpassing estimates, while the stock is currently trading at $64.09, with a market capitalization of $23.78 billion.

Panagora Asset Management Inc. boosted its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 148.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 270,663 shares of the utilities provider's stock after acquiring an additional 161,785 shares during the quarter. Panagora Asset Management Inc. owned about 0.07% of Eversource Energy worth $16,811,000 at the end of the most recent quarter.

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

Analyst Upgrades and Downgrades

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

Insider Activity

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of the stock in a transaction dated Friday, August 22nd. The stock was 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 in the company, valued at $795,020.31. The trade was a 45.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.19% of the company's stock.

Eversource Energy Stock Down 0.0%

ES traded down $0.03 on Thursday, hitting $63.27. 970,240 shares of the company were exchanged, compared to its average volume of 2,668,140. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $69.01. The company has a market cap of $23.48 billion, a price-to-earnings ratio of 27.15, a price-to-earnings-growth ratio of 2.41 and a beta of 0.64. 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 firm has a 50-day moving average price of $65.15 and a two-hundred day moving average price of $62.66.

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

About Eversource Energy

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.