Eversource Energy $ES Stock Sold by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP cut its Eversource Energy stake by 97.5% in the second quarter, selling 110,485 shares and retaining 2,836 shares valued at approximately $205,000.
• Institutional ownership remains high at 79.99%, with BlackRock, Geode Capital, Victory Capital, UBS and Deutsche Bank among major holders that increased or established positions.
• Analysts’ average rating is “Hold”, with an average price target of $72.92 versus a recent share price of $63.66. Eversource also reported quarterly EPS in line with estimates and declared a $0.7875 quarterly dividend, implying a 4.9% annualized yield.

Engineers Gate Manager LP reduced its holdings in Eversource Energy (NYSE:ES - Free Report) by 97.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,836 shares of the utilities provider's stock after selling 110,485 shares during the quarter. Engineers Gate Manager LP's holdings in Eversource Energy were worth $205,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in ES. BlackRock Inc. purchased a new position in Eversource Energy in the second quarter worth about $3,086,413,000. Geode Capital Management LLC increased its holdings in Eversource Energy by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 9,635,907 shares of the utilities provider's stock valued at $646,233,000 after buying an additional 194,781 shares during the last quarter. Victory Capital Management Inc. boosted its stake in shares of 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 during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its stake in shares of Eversource Energy by 1.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,620,413 shares of the utilities provider's stock worth $478,457,000 after acquiring an additional 88,163 shares during the last quarter. Finally, Deutsche Bank AG grew its position in shares of Eversource Energy by 78.1% during the 4th quarter. Deutsche Bank AG now owns 5,341,986 shares of the utilities provider's stock valued at $359,676,000 after acquiring an additional 2,341,912 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ES has been the subject of several analyst reports. Weiss Ratings upgraded Eversource Energy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, August 31st. Mizuho boosted their price target on Eversource Energy from $70.00 to $74.00 and gave the company a "neutral" rating in a report on Monday, August 3rd. Argus cut Eversource Energy from a "buy" rating to a "hold" rating in a research report on Friday, June 12th. Wells Fargo & Company raised their price objective on Eversource Energy from $75.00 to $76.00 and gave the stock an "overweight" rating in a research note on Thursday, July 2nd. Finally, Capital One Financial set a $73.00 price objective on Eversource Energy in a research report on Wednesday, July 1st. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $72.92.

Eversource Energy Trading Down 0.0%

ES stock opened at $63.66 on Monday. The firm has a fifty day moving average price of $70.92 and a 200 day moving average price of $70.40. Eversource Energy has a fifty-two week low of $63.15 and a fifty-two week high of $76.57. The firm has a market cap of $23.98 billion, a PE ratio of 16.49, a price-to-earnings-growth ratio of 2.76 and a beta of 0.69. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.80.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.99 billion. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. Eversource Energy's quarterly revenue was up 2.3% compared to the same quarter last year. During the same quarter last year, the business earned $0.96 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Sell-side analysts anticipate that Eversource Energy will post 4.65 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st will be paid a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.9%. The ex-dividend date of this dividend is Monday, September 21st. Eversource Energy's payout ratio is currently 81.61%.

About Eversource Energy

Eversource Energy is a public utility holding company that delivers electricity and natural gas to residential, commercial and industrial customers in the northeastern United States. Through its regulated utility subsidiaries, the company operates electric distribution systems, natural gas distribution networks and electric transmission infrastructure.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire. Its operations include maintaining utility infrastructure, connecting customers to energy services, managing power delivery and investing in projects designed to support system reliability and the transition to cleaner energy.

The company traces its history to Northeast Utilities, which adopted the Eversource Energy name in 2015.

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