Eversource Energy $ES Shares Sold by Korea Investment CORP

Key Points

• Korea Investment CORP decreased its stake in Eversource Energy by 2.6%, owning now approximately 264,278 shares valued at $16.4 million as of the latest SEC filing.
• Several institutional investors, including Marshall Wace LLP and Hsbc Holdings PLC, have significantly increased their holdings in Eversource Energy during the previous quarter, indicating strong investor interest.
• Eversource Energy reported an earnings per share (EPS) of $0.96 for the last quarter, slightly beating analysts' expectations, with revenue growth of 12.0% year-over-year despite missing consensus revenue estimates.

Korea Investment CORP cut its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 2.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 264,278 shares of the utilities provider's stock after selling 7,019 shares during the period. Korea Investment CORP owned approximately 0.07% of Eversource Energy worth $16,414,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Marshall Wace LLP increased its holdings in Eversource Energy by 134.0% in the 4th quarter. Marshall Wace LLP now owns 53,179 shares of the utilities provider's stock valued at $3,054,000 after purchasing an additional 30,455 shares during the last quarter. Dimensional Fund Advisors LP boosted its position in shares of Eversource Energy by 2.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,444,453 shares of the utilities provider's stock worth $82,954,000 after buying an additional 38,019 shares during the period. MetLife Investment Management LLC grew its stake in shares of Eversource Energy by 4.3% in the fourth quarter. MetLife Investment Management LLC now owns 96,826 shares of the utilities provider's stock valued at $5,561,000 after buying an additional 4,010 shares in the last quarter. Tower Research Capital LLC TRC grew its stake in shares of Eversource Energy by 9.6% in the fourth quarter. Tower Research Capital LLC TRC now owns 24,638 shares of the utilities provider's stock valued at $1,415,000 after buying an additional 2,160 shares in the last quarter. Finally, Hsbc Holdings PLC raised its holdings in shares of Eversource Energy by 31.1% in the 4th quarter. Hsbc Holdings PLC now owns 2,719,720 shares of the utilities provider's stock valued at $155,981,000 after buying an additional 645,257 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ES has been the subject of a number of research analyst reports. Mizuho raised their target price on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Bank of America raised their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. BMO Capital Markets upped their target price on shares of Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $65.56.

Eversource Energy Stock Down 0.1%

ES stock opened at $65.6590 on Thursday. The company's 50 day moving average price is $64.98 and its 200 day moving average price is $62.36. The firm has a market capitalization of $24.37 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.47 and a beta of 0.61. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71.

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

Eversource Energy Company 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.

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