IFM Investors Pty Ltd Lowers Stock Position in Eversource Energy $ES

Key Points

• IFM Investors Pty Ltd has reduced its stake in Eversource Energy by 10.6%, selling 15,660 shares during the first quarter, leaving it with a total of 132,269 shares valued at approximately $8,215,000.
• Multiple hedge funds have adjusted their positions in Eversource Energy, with Ameriprise Financial increasing its stake by 7.4% and Cetera Investment Advisers increasing by 14.6% in the previous quarter.
• Eversource Energy reported $0.96 earnings per share for the last quarter, slightly surpassing analysts' expectations, while setting its FY 2025 guidance at 4.670-4.820 EPS.

IFM Investors Pty Ltd lowered its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 10.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 132,269 shares of the utilities provider's stock after selling 15,660 shares during the period. IFM Investors Pty Ltd's holdings in Eversource Energy were worth $8,215,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Nuveen LLC bought a new position in shares of Eversource Energy in the first quarter worth approximately $286,130,000. Vest Financial LLC bought a new position in Eversource Energy during the first quarter valued at approximately $60,273,000. Wellington Management Group LLP lifted its position in Eversource Energy by 4.5% during the first quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider's stock valued at $1,068,901,000 after purchasing an additional 739,448 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eversource Energy by 11.3% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,269 shares of the utilities provider's stock valued at $316,857,000 after purchasing an additional 561,055 shares during the period. Finally, GAMMA Investing LLC lifted its position in Eversource Energy by 7,616.9% during the first quarter. GAMMA Investing LLC now owns 424,273 shares of the utilities provider's stock valued at $26,352,000 after purchasing an additional 418,775 shares during the period. Institutional investors own 79.99% of the company's stock.

Eversource Energy Price Performance

ES stock traded up $0.60 during trading on Friday, hitting $65.65. 2,168,881 shares of the company's stock traded hands, compared to its average volume of 2,362,623. The business has a fifty day simple moving average of $65.15 and a 200 day simple moving average of $62.73. The stock has a market capitalization of $24.37 billion, a price-to-earnings ratio of 28.18, a P/E/G ratio of 2.44 and a beta of 0.64. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $68.73.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.01. The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the business posted $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. As a group, research analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be paid a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 4.6%. The ex-dividend date is Monday, September 22nd. Eversource Energy's payout ratio is presently 129.18%.

Insider Buying and Selling

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

Analyst Ratings Changes

A number of analysts have commented on ES shares. Mizuho upped their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Finally, Bank of America upped their target price 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. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $64.38.

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.