Intech Investment Management LLC Sells 53,137 Shares of Eversource Energy $ES

Key Points

• Intech Investment Management cut its Eversource Energy stake by 76% in the fourth quarter, selling 53,137 shares and leaving it with 16,800 shares worth about $1.13 million.
• Eversource also saw insider selling, with VP Gregory B. Butler selling 7,000 shares for about $489,160, reducing his position by 11.08%.
• The company reported better-than-expected quarterly results, posting EPS of $1.73 versus estimates of $1.59 and revenue of $4.50 billion, while also declaring a quarterly dividend of $0.7875 per share, implying a 4.5% yield.

Intech Investment Management LLC decreased its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 76.0% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 16,800 shares of the utilities provider's stock after selling 53,137 shares during the quarter. Intech Investment Management LLC's holdings in Eversource Energy were worth $1,131,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of ES. Lodestone Wealth Management LLC bought a new position in shares of Eversource Energy during the fourth quarter valued at approximately $25,000. Activest Wealth Management grew its stake in shares of Eversource Energy by 2,337.5% during the fourth quarter. Activest Wealth Management now owns 390 shares of the utilities provider's stock valued at $26,000 after buying an additional 374 shares during the last quarter. TFC Financial Management Inc. grew its stake in shares of Eversource Energy by 2,857.1% during the fourth quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider's stock valued at $28,000 after buying an additional 400 shares during the last quarter. Key Capital Management INC bought a new position in shares of Eversource Energy during the fourth quarter valued at approximately $29,000. Finally, Godfrey Financial Associates Inc. bought a new position in shares of Eversource Energy in the fourth quarter worth about $29,000. Institutional investors own 79.99% of the company's stock.

Insider Buying and Selling at Eversource Energy

In other news, VP Gregory B. Butler sold 7,000 shares of the company's stock in a transaction that occurred on 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 sale, the vice president owned 56,179 shares of the company's stock, valued at approximately $3,925,788.52. This represents a 11.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.18% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on ES shares. Argus upgraded shares of Eversource Energy to a "strong-buy" rating in a report on Tuesday, March 24th. Weiss Ratings restated a "hold (c+)" rating on shares of Eversource Energy in a report on Monday, April 27th. Bank of America restated a "buy" rating and issued a $72.00 price target on shares of Eversource Energy in a report on Wednesday, April 22nd. UBS Group cut their price target on shares of Eversource Energy from $80.00 to $74.00 and set a "neutral" rating on the stock in a report on Friday, March 27th. Finally, Wells Fargo & Company upped their price target on shares of Eversource Energy from $74.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $71.70.

Eversource Energy Trading Up 1.0%

NYSE ES opened at $70.56 on Friday. Eversource Energy has a 12 month low of $61.53 and a 12 month high of $76.41. The company's 50-day moving average price is $68.81 and its 200-day moving average price is $69.29. The stock has a market cap of $26.54 billion, a PE ratio of 15.08, a PEG ratio of 4.68 and a beta of 0.71. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62.

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

Eversource Energy Announces Dividend

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

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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