Freestone Grove Partners LP Invests $33.02 Million in Eversource Energy $ES

Key Points

• Freestone Grove Partners LP initiated a $33.02 million position in Eversource Energy, purchasing 456,830 shares, while institutional investors overall own approximately 79.99% of the company.
• Eversource met quarterly earnings expectations with EPS of $0.87, though revenue of $2.90 billion fell short of estimates; revenue still increased 2.3% year over year. The company guided for fiscal 2026 EPS of $4.57–$4.72.
• Analyst sentiment remains mixed, with a consensus “Hold” rating and an average price target of $72.92, close to the stock’s reported price of $71.78.

Freestone Grove Partners LP purchased a new position in Eversource Energy (NYSE:ES - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 456,830 shares of the utilities provider's stock, valued at approximately $33,015,000. Freestone Grove Partners LP owned approximately 0.12% of Eversource Energy as of its most recent filing with the Securities & Exchange Commission.

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

Eversource Energy Stock Performance

ES stock opened at $71.78 on Thursday. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The firm has a market cap of $27.04 billion, a P/E ratio of 18.60, a P/E/G ratio of 5.24 and a beta of 0.70. Eversource Energy has a 12-month low of $62.45 and a 12-month high of $76.57. The stock's 50 day simple moving average is $72.83 and its 200 day simple moving average is $71.06.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.87. The firm had revenue of $2.90 billion for the quarter, compared to analysts' expectations of $2.99 billion. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%.The firm's revenue for the quarter was up 2.3% on a year-over-year basis. During the same period last year, the business posted $0.96 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, equities research analysts predict that Eversource Energy will post 4.64 EPS for the current year.

Insider Activity

In other news, VP Gregory B. Butler sold 7,000 shares of Eversource Energy 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 transaction, the vice president directly owned 56,179 shares of the company's stock, valued at approximately $3,925,788.52. The trade was a 11.08% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on ES shares. Weiss Ratings raised shares of Eversource Energy from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 10th. Capital One Financial set a $73.00 price objective on shares of Eversource Energy in a report on Wednesday, July 1st. Mizuho boosted their target price on shares of Eversource Energy from $70.00 to $74.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Argus lowered shares of Eversource Energy from a "buy" rating to a "hold" rating in a research note on Friday, June 12th. Finally, Citigroup reaffirmed a "hold" rating and set a $81.00 price target on shares of Eversource Energy in a research report on Monday, July 27th. Four equities research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $72.92.

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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