Eversource Energy $ES Shares Sold by Hsbc Holdings PLC

Key Points

• Hsbc Holdings PLC trimmed its Eversource Energy position by 1.0% in the fourth quarter, but still held 3.44 million shares valued at about $231.6 million at quarter-end.
• Analysts are mixed on ES: the stock has a consensus “Hold” rating with an average target price of $71.70, while individual firms have recently raised or lowered their targets and ratings.
• Eversource reported solid quarterly results and a dividend, beating earnings and revenue estimates, and it declared a quarterly dividend of $0.7875 per share, implying a 4.5% annualized yield.

Hsbc Holdings PLC trimmed its position in shares of Eversource Energy (NYSE:ES - Free Report) by 1.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,439,877 shares of the utilities provider's stock after selling 33,412 shares during the quarter. Hsbc Holdings PLC owned 0.92% of Eversource Energy worth $231,581,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Empowered Funds LLC raised its holdings in Eversource Energy by 8.9% in the first quarter. Empowered Funds LLC now owns 16,149 shares of the utilities provider's stock valued at $1,003,000 after acquiring an additional 1,319 shares in the last quarter. Woodline Partners LP lifted its stake in Eversource Energy by 40.8% in the first quarter. Woodline Partners LP now owns 30,988 shares of the utilities provider's stock worth $1,925,000 after acquiring an additional 8,984 shares during the last quarter. Acadian Asset Management LLC grew its holdings in Eversource Energy by 115.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,497 shares of the utilities provider's stock worth $92,000 after acquiring an additional 801 shares in the last quarter. Schnieders Capital Management LLC. grew its holdings in Eversource Energy by 87.9% during the 2nd quarter. Schnieders Capital Management LLC. now owns 58,444 shares of the utilities provider's stock worth $3,718,000 after acquiring an additional 27,332 shares in the last quarter. Finally, Brown Advisory Inc. increased its position in shares of Eversource Energy by 4.6% in the 2nd quarter. Brown Advisory Inc. now owns 7,933 shares of the utilities provider's stock valued at $505,000 after purchasing an additional 349 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on ES. Wells Fargo & Company increased their price target on shares of Eversource Energy from $74.00 to $75.00 and gave the company an "overweight" rating in a research note on Friday, May 8th. JPMorgan Chase & Co. boosted their price objective on shares of Eversource Energy from $72.00 to $75.00 and gave the stock an "underweight" rating in a research report on Thursday, March 12th. Bank of America restated a "buy" rating and issued a $72.00 target price on shares of Eversource Energy in a report on Wednesday, April 22nd. UBS Group dropped their target price on shares of Eversource Energy from $80.00 to $74.00 and set a "neutral" rating on the stock in a research report on Friday, March 27th. Finally, Mizuho cut their price target on shares of Eversource Energy from $75.00 to $70.00 and set a "neutral" rating on the stock in a research note on Thursday, March 26th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $71.70.

Insider Activity at Eversource Energy

In other news, VP Gregory B. Butler sold 7,000 shares of the company's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $69.88, for a total value of $489,160.00. Following the completion of the sale, the vice president directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.18% of the company's stock.

Eversource Energy Price Performance

ES stock opened at $69.50 on Friday. 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 company has a market capitalization of $26.14 billion, a P/E ratio of 14.85, a PEG ratio of 4.60 and a beta of 0.71. The business has a 50 day simple moving average of $68.81 and a 200-day simple moving average of $69.41. Eversource Energy has a twelve month low of $61.53 and a twelve month high of $76.41.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Wednesday, May 6th. The utilities provider reported $1.73 EPS for the quarter, beating analysts' consensus estimates of $1.59 by $0.14. The business 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%. The company's quarterly revenue was up 9.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.50 EPS. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, equities analysts anticipate that Eversource Energy will post 4.65 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, May 18th will be paid a $0.7875 dividend. 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 payout ratio is currently 67.31%.

Eversource Energy 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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