Eversource Energy $ES Shares Sold by ABN Amro Investment Solutions

Key Points

• ABN Amro Investment Solutions cut its Eversource Energy stake by 12.3% in Q1, selling 13,474 shares and ending with 96,368 shares valued at about $6.68 million.
• Analyst sentiment is mixed, with Eversource carrying a Hold consensus rating and a consensus target price of $71.82, though some firms recently raised targets or ratings while others downgraded the stock.
• The company reported better-than-expected Q1 earnings of $1.73 per share on $4.50 billion in revenue, and it also paid a quarterly dividend of $0.7875, implying an annualized yield of 4.2%.

ABN Amro Investment Solutions lessened its stake in Eversource Energy (NYSE:ES - Free Report) by 12.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 96,368 shares of the utilities provider's stock after selling 13,474 shares during the quarter. ABN Amro Investment Solutions' holdings in Eversource Energy were worth $6,676,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in Eversource Energy by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 47,512,198 shares of the utilities provider's stock valued at $3,198,996,000 after purchasing an additional 697,829 shares in the last quarter. State Street Corp boosted its stake in Eversource Energy by 4.7% during the 4th quarter. State Street Corp now owns 28,013,053 shares of the utilities provider's stock valued at $1,886,119,000 after acquiring an additional 1,265,802 shares during the last quarter. Geode Capital Management LLC grew its holdings in Eversource Energy by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 9,635,907 shares of the utilities provider's stock worth $646,233,000 after acquiring an additional 194,781 shares in the last quarter. Victory Capital Management Inc. grew its holdings in Eversource Energy by 61.8% during the 4th quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider's stock worth $642,747,000 after acquiring an additional 3,645,555 shares in the last quarter. Finally, Morgan Stanley increased its position in shares of Eversource Energy by 4.2% in the 4th quarter. Morgan Stanley now owns 5,879,604 shares of the utilities provider's stock worth $395,874,000 after purchasing an additional 238,723 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on ES. Capital One Financial set a $73.00 target price on shares of Eversource Energy in a research note on Wednesday, July 1st. Weiss Ratings raised Eversource Energy from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 10th. Wells Fargo & Company upped their price objective on Eversource Energy from $75.00 to $76.00 and gave the company an "overweight" rating in a research note on Thursday, July 2nd. Seaport Research Partners downgraded Eversource Energy from a "buy" rating to a "neutral" rating in a report on Monday, April 20th. Finally, Argus lowered Eversource Energy from a "buy" rating to a "hold" rating in a research report on Friday, June 12th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, Eversource Energy has a consensus rating of "Hold" and a consensus target price of $71.82.

Insider Transactions at Eversource Energy

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

Eversource Energy Trading Up 2.0%

Eversource Energy stock opened at $74.53 on Thursday. Eversource Energy has a 1 year low of $61.53 and a 1 year high of $76.41. The firm's 50-day moving average is $71.06 and its 200-day moving average is $70.44. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.65. The company has a market cap of $28.03 billion, a P/E ratio of 15.92, a PEG ratio of 4.83 and a beta of 0.70.

Eversource Energy (NYSE:ES - Get Free Report) last issued its 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 firm had revenue of $4.50 billion for the quarter, compared to analysts' expectations of $4.21 billion. Eversource Energy had a net margin of 12.55% and a return on equity of 11.59%. Eversource Energy's revenue was up 9.4% on a year-over-year basis. During the same quarter last year, the company posted $1.50 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, equities analysts expect that Eversource Energy will post 4.65 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, May 18th were paid a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date was Monday, May 18th. Eversource Energy's dividend payout ratio (DPR) is presently 67.31%.

About Eversource Energy

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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