Eversource Energy $ES Stock Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Key Points

• Sumitomo Mitsui DS Asset Management cut its Eversource Energy stake by 21.5% in the third quarter, selling 14,985 shares and retaining 54,589 shares valued at approximately $3.5 million.
• Institutional ownership remains high at nearly 80%, with several other funds adding to or initiating positions in Eversource Energy.
• Eversource reported quarterly earnings of $0.87 per share, matching estimates, and maintains a quarterly dividend of $0.7875, equivalent to a 4.6% annualized yield. Analysts’ consensus rating is Hold, with a target price of $72.91.

Sumitomo Mitsui DS Asset Management Company Ltd lowered its position in Eversource Energy (NYSE:ES - Free Report) by 21.5% in the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 54,589 shares of the utilities provider's stock after selling 14,985 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Eversource Energy were worth $3,502,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Man Group plc purchased a new stake in Eversource Energy in the second quarter worth about $57,166,000. Integrated Wealth Concepts LLC lifted its holdings in shares of Eversource Energy by 55.4% during the second quarter. Integrated Wealth Concepts LLC now owns 55,071 shares of the utilities provider's stock valued at $3,980,000 after purchasing an additional 19,628 shares during the last quarter. Wedge Capital Management L L P NC lifted its holdings in shares of Eversource Energy by 13.2% during the second quarter. Wedge Capital Management L L P NC now owns 352,400 shares of the utilities provider's stock valued at $25,468,000 after purchasing an additional 40,993 shares during the last quarter. Quantitative Investment Management LLC bought a new stake in shares of Eversource Energy in the 2nd quarter worth approximately $1,116,000. Finally, Edgestream Partners L.P. bought a new stake in shares of Eversource Energy in the 1st quarter worth approximately $2,587,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

Eversource Energy Price Performance

NYSE ES opened at $67.79 on Friday. Eversource Energy has a 52 week low of $62.72 and a 52 week high of $76.57. The firm has a market capitalization of $25.53 billion, a P/E ratio of 13.36, a PEG ratio of 2.86 and a beta of 0.67. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.63. The company has a 50-day moving average price of $67.96 and a 200-day moving average price of $69.75.

Eversource Energy (NYSE:ES - Get Free Report) last released its earnings results on Thursday, July 30th. The utilities provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. The company had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.99 billion. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%. Eversource Energy's quarterly revenue was up 2.3% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Equities research analysts anticipate that Eversource Energy will post 4.63 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Shareholders of record on Monday, September 21st were issued a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date was Monday, September 21st. Eversource Energy's payout ratio is currently 81.61%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on ES. BMO Capital Markets reduced their price objective on Eversource Energy from $73.00 to $72.00 and set a "market perform" rating for the company in a research report on Wednesday, July 22nd. HSBC assumed coverage on Eversource Energy in a research note on Thursday. They set a "hold" rating and a $70.00 price objective for the company. Mizuho boosted their target price on Eversource Energy from $70.00 to $74.00 and gave the stock a "neutral" rating in a report on Monday, August 3rd. Weiss Ratings raised Eversource Energy from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, August 31st. Finally, JPMorgan Chase & Co. reduced their price target on Eversource Energy from $73.00 to $68.00 and set an "underweight" rating for the company in a report on Monday. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus target price of $72.91.

Eversource Energy Company Profile

Eversource Energy NYSE: ES is a New England-based energy delivery company that provides electric and natural gas utility services. Through its regulated operating companies, it delivers electricity to residential, commercial and industrial customers and distributes natural gas to homes and businesses.

The company owns and operates electric transmission and distribution infrastructure, natural gas distribution systems and related utility facilities. Its electric operations include Connecticut Light and Power, NSTAR Electric and Public Service Company of New Hampshire, while its natural gas operations include several utilities serving customers in Connecticut and Massachusetts.

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