Eversource Energy $ES Holdings Cut by Rafferty Asset Management LLC

Key Points

• Rafferty Asset Management LLC reduced its stake in Eversource Energy by 19.8%, now holding 33,007 shares valued at approximately $2.05 million.
• Insider Loretta D. Keane purchased 3,780 shares of Eversource Energy, increasing her ownership by 45.80% after the transaction.
• Analysts generally rate Eversource Energy as a "Hold," with a consensus target price of $64.38 per share, reflecting mixed sentiments in the market.

Rafferty Asset Management LLC cut its position in shares of Eversource Energy (NYSE:ES - Free Report) by 19.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 33,007 shares of the utilities provider's stock after selling 8,126 shares during the quarter. Rafferty Asset Management LLC's holdings in Eversource Energy were worth $2,050,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. boosted its position in shares of Eversource Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider's stock worth $2,792,559,000 after acquiring an additional 351,780 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Eversource Energy by 4.5% in the 1st quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider's stock valued at $1,068,901,000 after purchasing an additional 739,448 shares during the last quarter. Magellan Asset Management Ltd grew its stake in shares of Eversource Energy by 6.2% during the 1st quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider's stock valued at $427,090,000 after buying an additional 401,866 shares during the period. Invesco Ltd. increased its holdings in shares of Eversource Energy by 0.5% during the 1st quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider's stock worth $374,920,000 after buying an additional 32,304 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in shares of Eversource Energy by 11.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,269 shares of the utilities provider's stock worth $316,857,000 after buying an additional 561,055 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.

Eversource Energy Stock Down 0.3%

Eversource Energy stock traded down $0.19 during midday trading on Thursday, hitting $63.11. 792,468 shares of the stock were exchanged, compared to its average volume of 2,666,901. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. The firm has a market cap of $23.42 billion, a P/E ratio of 27.09, a P/E/G ratio of 2.41 and a beta of 0.64. The company has a 50 day moving average price of $65.15 and a two-hundred day moving average price of $62.66.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the firm earned $0.95 earnings per share. The company's 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, sell-side analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on ES shares. Bank of America boosted their price target on Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Finally, Mizuho lifted their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Eversource Energy has a consensus rating of "Hold" and a consensus target price of $64.38.

Insider Activity at Eversource Energy

In related news, insider Loretta D. Keane purchased 3,780 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was acquired at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the purchase, the insider owned 12,033 shares in the company, valued at approximately $795,020.31. This represents a 45.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.19% of the company's stock.

About Eversource Energy

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.