Eversource Energy $ES Shares Sold by Magnetar Financial LLC

Key Points

• Magnetar Financial LLC has reduced its stake in Eversource Energy by 31.7%, owning 61,458 shares after selling 28,584 shares in the first quarter, valued at approximately $3.8 million.
• Eversource Energy reported $0.96 earnings per share, slightly beating estimates, with revenue of $2.84 billion for the quarter, which is 12% higher compared to the same quarter last year.
• Wall Street analysts have mixed ratings for Eversource Energy, with a consensus rating of "Hold" and a price target averaging $64.38.

Magnetar Financial LLC cut its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 31.7% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 61,458 shares of the utilities provider's stock after selling 28,584 shares during the quarter. Magnetar Financial LLC's holdings in Eversource Energy were worth $3,817,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Trexquant Investment LP lifted its holdings in shares of Eversource Energy by 1,031.8% during the 1st quarter. Trexquant Investment LP now owns 141,397 shares of the utilities provider's stock valued at $8,782,000 after buying an additional 128,904 shares during the last quarter. B. Metzler seel. Sohn & Co. AG increased its position in shares of Eversource Energy by 15.9% during the first quarter. B. Metzler seel. Sohn & Co. AG now owns 56,182 shares of the utilities provider's stock valued at $3,489,000 after purchasing an additional 7,723 shares during the period. Ieq Capital LLC increased its position in shares of Eversource Energy by 26.2% during the first quarter. Ieq Capital LLC now owns 38,145 shares of the utilities provider's stock valued at $2,369,000 after purchasing an additional 7,909 shares during the period. Harvest Portfolios Group Inc. boosted its stake in Eversource Energy by 2.4% in the 1st quarter. Harvest Portfolios Group Inc. now owns 101,543 shares of the utilities provider's stock valued at $6,307,000 after buying an additional 2,364 shares in the last quarter. Finally, Comerica Bank boosted its stake in Eversource Energy by 57.2% in the 1st quarter. Comerica Bank now owns 102,521 shares of the utilities provider's stock valued at $6,368,000 after buying an additional 37,318 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Eversource Energy

In other news, insider Loretta D. Keane bought 3,780 shares of Eversource Energy stock in a transaction dated Friday, August 22nd. The shares were acquired at an average cost of $66.07 per share, with a total value of $249,744.60. Following the completion of the transaction, the insider owned 12,033 shares in the company, valued at approximately $795,020.31. This trade represents a 45.80% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.19% of the company's stock.

Eversource Energy Trading Down 0.5%

ES traded down $0.29 during trading on Thursday, hitting $63.01. 442,452 shares of the company's stock were exchanged, compared to its average volume of 2,665,207. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The stock has a 50 day moving average price of $65.15 and a 200 day moving average price of $62.66. The firm has a market cap of $23.38 billion, a P/E ratio of 27.04, a price-to-earnings-growth ratio of 2.41 and a beta of 0.64.

Eversource Energy (NYSE:ES - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The business had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The business's revenue for the quarter 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. As a group, analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Analyst Ratings Changes

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

About Eversource Energy

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.