HighTower Advisors LLC Buys 31,398 Shares of Eversource Energy $ES

Key Points

• HighTower Advisors LLC increased its Eversource Energy stake by 10.7% in the fourth quarter, buying 31,398 additional shares and bringing its total holding to 325,693 shares worth about $21.9 million.
• Eversource reported better-than-expected quarterly results, with EPS of $1.73 versus $1.59 expected and revenue of $4.50 billion versus $4.21 billion expected. Revenue also rose 9.4% from a year earlier.
• The utility declared a quarterly dividend of $0.7875 per share, or $3.15 annualized, for a 4.5% yield. Analysts currently have a consensus Hold rating on the stock with a $71.70 target price.

HighTower Advisors LLC raised its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 10.7% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 325,693 shares of the utilities provider's stock after acquiring an additional 31,398 shares during the period. HighTower Advisors LLC owned approximately 0.09% of Eversource Energy worth $21,929,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Eversource Energy by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 47,512,198 shares of the utilities provider's stock valued at $3,198,996,000 after acquiring an additional 697,829 shares during the period. Magellan Asset Management Ltd lifted its stake in shares of Eversource Energy by 6.5% in the 3rd quarter. Magellan Asset Management Ltd now owns 7,406,785 shares of the utilities provider's stock worth $526,919,000 after purchasing an additional 454,658 shares during the period. Victory Capital Management Inc. lifted its stake in shares of Eversource Energy by 9.4% in the 3rd quarter. Victory Capital Management Inc. now owns 5,900,662 shares of the utilities provider's stock worth $419,773,000 after purchasing an additional 505,489 shares during the period. Legal & General Group Plc lifted its stake in shares of Eversource Energy by 1.3% in the 3rd quarter. Legal & General Group Plc now owns 5,088,500 shares of the utilities provider's stock worth $361,996,000 after purchasing an additional 63,466 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its stake in shares of Eversource Energy by 23,707.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,649,747 shares of the utilities provider's stock worth $313,067,000 after purchasing an additional 4,630,216 shares during the period. Institutional investors own 79.99% of the company's stock.

Eversource Energy Stock Performance

ES opened at $70.02 on Friday. The company has a 50 day simple moving average of $69.05 and a two-hundred day simple moving average of $69.58. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.65 and a quick ratio of 0.59. The firm has a market cap of $26.33 billion, a P/E ratio of 14.96, a PEG ratio of 4.64 and a beta of 0.74. Eversource Energy has a 1-year low of $61.53 and a 1-year high of $76.41.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.59 by $0.14. The firm had revenue of $4.50 billion during the quarter, compared to analysts' expectations of $4.21 billion. Eversource Energy had a net margin of 12.55% and a return on equity of 11.59%. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.50 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Equities analysts forecast that Eversource Energy will post 4.65 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th will be paid a $0.7875 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.5%. Eversource Energy's dividend payout ratio is 67.31%.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ES shares. Wells Fargo & Company increased their price objective on shares of Eversource Energy from $74.00 to $75.00 and gave the stock an "overweight" rating in a research note on Friday, May 8th. UBS Group lowered their price objective on shares of Eversource Energy from $80.00 to $74.00 and set a "neutral" rating on the stock in a research note on Friday, March 27th. Scotiabank lowered their price objective on shares of Eversource Energy from $66.00 to $63.00 and set a "sector underperform" rating on the stock in a research note on Tuesday, April 21st. JPMorgan Chase & Co. increased their price objective on shares of Eversource Energy from $72.00 to $75.00 and gave the stock an "underweight" rating in a research note on Thursday, March 12th. Finally, Weiss Ratings reiterated a "hold (c+)" rating on shares of Eversource Energy in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $71.70.

Insider Activity

In other news, insider Cotton M. Cleveland sold 2,581 shares of the stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $74.87, for a total value of $193,239.47. Following the completion of the sale, the insider directly owned 79,364 shares of the company's stock, valued at $5,941,982.68. This represents a 3.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is currently owned by company insiders.

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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