Gabelli Funds LLC Cuts Stake in Eversource Energy $ES

Key Points

• Gabelli Funds LLC cut its stake in Eversource Energy by 2.5% in Q3, selling 19,900 shares and leaving it with 776,350 shares worth about $55.23 million (0.21% of the company).
• Eversource reported quarterly EPS of $1.12 (beating estimates) and revenue of $3.37 billion (up 13.4% year-over-year) and set FY2026 guidance of 4.800–4.950 EPS, roughly in line with analyst expectations (~4.75 EPS).
• The company increased its quarterly dividend to $0.7875 per share (annualized $3.15) for a yield of about 4.2%, with an ex-dividend date of March 5; insiders sold roughly 16,381 shares (~$1.21M) in the last quarter.

Gabelli Funds LLC cut its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 2.5% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 776,350 shares of the utilities provider's stock after selling 19,900 shares during the period. Gabelli Funds LLC owned 0.21% of Eversource Energy worth $55,230,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the business. Universal Beteiligungs und Servicegesellschaft mbH boosted its stake in Eversource Energy by 7.9% in the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 419,251 shares of the utilities provider's stock worth $26,673,000 after purchasing an additional 30,641 shares in the last quarter. Alps Advisors Inc. increased its stake in Eversource Energy by 5.4% during the 3rd quarter. Alps Advisors Inc. now owns 386,853 shares of the utilities provider's stock valued at $27,521,000 after purchasing an additional 19,795 shares in the last quarter. Vanguard Group Inc. increased its stake in Eversource Energy by 1.5% during the 2nd quarter. Vanguard Group Inc. now owns 45,652,661 shares of the utilities provider's stock valued at $2,904,422,000 after purchasing an additional 691,165 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of Eversource Energy by 31.1% in the second quarter. Advisors Asset Management Inc. now owns 39,391 shares of the utilities provider's stock worth $2,506,000 after buying an additional 9,350 shares during the last quarter. Finally, Synergy Asset Management LLC lifted its stake in shares of Eversource Energy by 287.7% during the third quarter. Synergy Asset Management LLC now owns 160,322 shares of the utilities provider's stock worth $10,783,000 after buying an additional 118,971 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.

Eversource Energy Stock Up 1.0%

ES stock opened at $74.58 on Friday. The company has a market capitalization of $28.00 billion, a P/E ratio of 16.32, a price-to-earnings-growth ratio of 3.20 and a beta of 0.76. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $76.41. The firm's fifty day simple moving average is $70.52 and its 200-day simple moving average is $69.33. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.65 and a quick ratio of 0.59.

Eversource Energy (NYSE:ES - Get Free Report) last issued its earnings results on Thursday, February 12th. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.02. The firm had revenue of $3.37 billion during the quarter, compared to analysts' expectations of $2.94 billion. Eversource Energy had a net margin of 12.49% and a return on equity of 11.18%. The firm's revenue was up 13.4% compared to the same quarter last year. During the same quarter last year, the company posted $1.01 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. As a group, equities research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 5th 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 4.2%. The ex-dividend date is Thursday, March 5th. This is an increase from Eversource Energy's previous quarterly dividend of $0.75. Eversource Energy's dividend payout ratio (DPR) is 68.93%.

Insider Activity

In other news, insider Cotton M. Cleveland sold 2,581 shares of the business's stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $74.87, for a total value of $193,239.47. Following the completion of the transaction, the insider owned 79,364 shares of the company's stock, valued at $5,941,982.68. The trade was a 3.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider John Y. Kim sold 6,000 shares of the company's stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $73.57, for a total value of $441,420.00. Following the completion of the sale, the insider owned 12,339 shares in the company, valued at $907,780.23. The trade was a 32.72% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 16,381 shares of company stock valued at $1,211,079 in the last quarter. 0.41% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on ES shares. Bank of America reissued a "buy" rating on shares of Eversource Energy in a report on Monday. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Eversource Energy in a research report on Wednesday, January 28th. JPMorgan Chase & Co. dropped their price target on Eversource Energy from $72.00 to $71.00 and set an "underweight" rating on the stock in a research note on Friday, December 12th. Jefferies Financial Group reissued an "underperform" rating on shares of Eversource Energy in a report on Monday, November 24th. Finally, Wells Fargo & Company upgraded Eversource Energy from an "equal weight" rating to an "overweight" rating and raised their price objective for the stock from $71.00 to $78.00 in a research note on Tuesday, February 17th. Three investment analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $73.90.

Eversource Energy Company 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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