Eversource Energy $ES Shares Bought by California State Teachers Retirement System

Key Points

• California State Teachers Retirement System increased its Eversource Energy stake by 6,017.5% in the second quarter, acquiring 60.8 million additional shares and ending with a 16.4% ownership position valued at approximately $4.47 billion.
• Institutional investors collectively own 79.99% of Eversource, with BlackRock establishing a new position worth about $3.09 billion and other major firms also raising their holdings.
• Eversource shares recently traded at $70.38, down 1.6%, while analysts maintained an overall “Hold” rating with an average price target of $72.92. The company met quarterly EPS estimates at $0.87, though revenue of $2.90 billion fell short of forecasts.

California State Teachers Retirement System lifted its position in shares of Eversource Energy (NYSE:ES - Free Report) by 6,017.5% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 61,782,250 shares of the utilities provider's stock after acquiring an additional 60,772,317 shares during the period. California State Teachers Retirement System owned 16.40% of Eversource Energy worth $4,465,003,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. BlackRock Inc. bought a new position in Eversource Energy in the 2nd quarter worth about $3,086,413,000. State Street Corp increased its stake in shares of Eversource Energy by 4.7% in the fourth quarter. State Street Corp now owns 28,013,053 shares of the utilities provider's stock valued at $1,886,119,000 after purchasing an additional 1,265,802 shares during the period. Geode Capital Management LLC raised its holdings in shares of Eversource Energy by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 9,635,907 shares of the utilities provider's stock valued at $646,233,000 after buying an additional 194,781 shares during the last quarter. Victory Capital Management Inc. raised its holdings in shares of Eversource Energy by 61.8% during the fourth quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider's stock valued at $642,747,000 after buying an additional 3,645,555 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Eversource Energy by 1.3% during the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,620,413 shares of the utilities provider's stock worth $478,457,000 after buying an additional 88,163 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts recently issued reports on ES shares. Wells Fargo & Company increased their price objective on Eversource Energy from $75.00 to $76.00 and gave the stock an "overweight" rating in a report on Thursday, July 2nd. Capital One Financial set a $73.00 target price on Eversource Energy in a research note on Wednesday, July 1st. Mizuho boosted their price target on Eversource Energy from $70.00 to $74.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Citigroup reissued a "hold" rating and issued a $81.00 price target on shares of Eversource Energy in a research note on Monday, July 27th. Finally, BMO Capital Markets lowered their price target on Eversource Energy from $73.00 to $72.00 and set a "market perform" rating on the stock in a report on Wednesday, July 22nd. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $72.92.

Eversource Energy Trading Down 1.6%

Shares of NYSE:ES opened at $70.38 on Thursday. The company has a 50 day moving average of $72.69 and a 200-day moving average of $71.05. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The firm has a market cap of $26.51 billion, a P/E ratio of 18.23, a P/E/G ratio of 3.10 and a beta of 0.69. Eversource Energy has a twelve month low of $62.89 and a twelve month high of $76.57.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.87 EPS for the quarter, meeting analysts' consensus estimates of $0.87. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the business earned $0.96 earnings per share. The business's revenue for the quarter was up 2.3% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, analysts anticipate that Eversource Energy will post 4.65 earnings per share for the current fiscal year.

Eversource Energy Company Profile

Eversource Energy is a public utility holding company that delivers electricity and natural gas to residential, commercial and industrial customers in the northeastern United States. Through its regulated utility subsidiaries, the company operates electric distribution systems, natural gas distribution networks and electric transmission infrastructure.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire. Its operations include maintaining utility infrastructure, connecting customers to energy services, managing power delivery and investing in projects designed to support system reliability and the transition to cleaner energy.

The company traces its history to Northeast Utilities, which adopted the Eversource Energy name in 2015.

Want to see what other hedge funds are holding ES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eversource Energy (NYSE:ES - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.