Ieq Capital LLC Acquires 7,909 Shares of Eversource Energy $ES

Key Points

• Ieq Capital LLC increased its stake in Eversource Energy by 26.2%, bringing its total holdings to 38,145 shares valued at approximately $2.37 million.
• Eversource Energy recently reported an earnings per share (EPS) of $0.96 for the quarter, slightly exceeding analysts' expectations of $0.95, and anticipates EPS of between 4.670 and 4.820 for FY 2025.
• The stock currently has a consensus rating of "Hold" from analysts, with an average price target of $64.38.

Ieq Capital LLC lifted its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 26.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 38,145 shares of the utilities provider's stock after buying an additional 7,909 shares during the quarter. Ieq Capital LLC's holdings in Eversource Energy were worth $2,369,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Harvest Portfolios Group Inc. grew its position in shares of Eversource Energy by 2.4% during the 1st quarter. Harvest Portfolios Group Inc. now owns 101,543 shares of the utilities provider's stock worth $6,307,000 after buying an additional 2,364 shares during the period. Comerica Bank grew its holdings in Eversource Energy by 57.2% during the first quarter. Comerica Bank now owns 102,521 shares of the utilities provider's stock valued at $6,368,000 after purchasing an additional 37,318 shares during the period. SVB Wealth LLC acquired a new position in Eversource Energy during the first quarter valued at approximately $153,000. Northwestern Mutual Wealth Management Co. grew its holdings in Eversource Energy by 56.0% during the first quarter. Northwestern Mutual Wealth Management Co. now owns 24,019 shares of the utilities provider's stock valued at $1,492,000 after purchasing an additional 8,622 shares during the period. Finally, BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its holdings in Eversource Energy by 2.4% during the first quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 70,088 shares of the utilities provider's stock valued at $4,353,000 after purchasing an additional 1,652 shares during the period. Institutional investors and hedge funds own 79.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. Bank of America boosted their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Finally, Mizuho lifted their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Eversource Energy presently has an average rating of "Hold" and a consensus price target of $64.38.

Eversource Energy Stock Up 0.1%

Shares of ES stock traded up $0.07 during trading on Friday, reaching $63.49. The company's stock had a trading volume of 1,653,333 shares, compared to its average volume of 2,186,111. The business has a fifty day moving average price of $65.15 and a 200-day moving average price of $62.69. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. The company has a market cap of $23.56 billion, a price-to-earnings ratio of 27.25, a price-to-earnings-growth ratio of 2.39 and a beta of 0.64. Eversource Energy has a one year low of $52.28 and a one year high of $68.73.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the firm posted $0.95 earnings per share. The company's quarterly revenue was up 12.0% compared to the same quarter last year. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Insider Activity at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane purchased 3,780 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the purchase, the insider owned 12,033 shares of the company's stock, valued at approximately $795,020.31. The trade was a 45.80% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.41% of the company's stock.

Eversource Energy Company Profile

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.