Caisse DE Depot ET Placement DU Quebec Cuts Holdings in Eversource Energy $ES

Key Points

• Caisse DE Depot ET Placement DU Quebec has reduced its stake in Eversource Energy by 5.0%, selling 68,500 shares and now holds approximately 0.35% of the company worth $80.17 million.
• Multiple institutional investors have increased their positions in Eversource Energy, with Comerica Bank boosting its holdings by 57.2% during the same period.
• Wall Street analysts have mixed ratings on Eversource Energy, with price targets ranging from $62.00 to $72.00, leading to an average rating of "Hold" and a target price of $64.38.

Caisse DE Depot ET Placement DU Quebec decreased its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 5.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,290,790 shares of the utilities provider's stock after selling 68,500 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.35% of Eversource Energy worth $80,171,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Pinney & Scofield Inc. purchased a new stake in Eversource Energy in the 4th quarter worth $33,000. Rossby Financial LCC purchased a new stake in Eversource Energy in the 1st quarter worth $34,000. CoreCap Advisors LLC increased its stake in Eversource Energy by 168.7% in the 4th quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock worth $35,000 after buying an additional 383 shares in the last quarter. First Financial Corp IN increased its stake in Eversource Energy by 3,529.4% in the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock worth $38,000 after buying an additional 600 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in Eversource Energy in the 1st quarter worth $46,000. Institutional investors own 79.99% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ES shares. Mizuho increased their price target on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Bank of America increased their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. 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 stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target of $64.38.

Insider Transactions at Eversource Energy

In other news, insider Loretta D. Keane acquired 3,780 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was acquired at an average price of $66.07 per share, with a total value of $249,744.60. Following the completion of the purchase, the insider directly owned 12,033 shares in the company, valued at approximately $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.41% of the stock is currently owned by insiders.

Eversource Energy Trading Down 0.3%

NYSE ES traded down $0.22 during trading on Friday, hitting $64.09. The stock had a trading volume of 1,740,715 shares, compared to its average volume of 2,688,541. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71. The stock has a market capitalization of $23.78 billion, a price-to-earnings ratio of 27.50, a P/E/G ratio of 2.44 and a beta of 0.61. Eversource Energy has a one year low of $52.28 and a one year high of $69.01. The stock has a 50 day simple moving average of $65.09 and a 200 day simple moving average of $62.60.

Eversource Energy (NYSE:ES - Get Free Report) last announced 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 the consensus estimate of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The firm's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Sell-side analysts predict that Eversource Energy will post 4.75 earnings per share for the current 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.