M&T Bank Corp Purchases 15,053 Shares of Eversource Energy $ES

Key Points

• M&T Bank Corp raised its stake in Eversource Energy by 77.7%, buying 15,053 shares to hold 34,416 shares valued at about $2.317 million, while institutional investors own roughly 79.99% of the company.
• Eversource beat quarterly expectations with EPS of $1.12 vs. $1.10 and revenue of $3.37 billion (up 13.4% YoY), and set FY2026 guidance of 4.80–4.95 EPS (analysts expect ~4.72).
• Analysts have trimmed price targets (consensus rating "Hold", target $71.80), and insiders sold about 16,381 shares (~$1.21M) in the last quarter, with insiders owning 0.18% of the stock.

M&T Bank Corp raised its position in shares of Eversource Energy (NYSE:ES - Free Report) by 77.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 34,416 shares of the utilities provider's stock after acquiring an additional 15,053 shares during the quarter. M&T Bank Corp's holdings in Eversource Energy were worth $2,317,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its position in Eversource Energy by 2.5% during the third quarter. Vanguard Group Inc. now owns 46,814,369 shares of the utilities provider's stock valued at $3,330,374,000 after acquiring an additional 1,161,708 shares during the last quarter. Magellan Asset Management Ltd boosted its position in Eversource Energy by 6.5% during the third quarter. Magellan Asset Management Ltd now owns 7,406,785 shares of the utilities provider's stock valued at $526,919,000 after acquiring an additional 454,658 shares during the last quarter. Victory Capital Management Inc. boosted its position in Eversource Energy by 9.4% during the third quarter. Victory Capital Management Inc. now owns 5,900,662 shares of the utilities provider's stock valued at $419,773,000 after acquiring an additional 505,489 shares during the last quarter. Legal & General Group Plc boosted its position in Eversource Energy by 1.3% during the third quarter. Legal & General Group Plc now owns 5,088,500 shares of the utilities provider's stock valued at $361,996,000 after acquiring an additional 63,466 shares during the last quarter. Finally, Bank of New York Mellon Corp boosted its position in Eversource Energy by 4.7% during the third quarter. Bank of New York Mellon Corp now owns 2,545,084 shares of the utilities provider's stock valued at $181,057,000 after acquiring an additional 113,836 shares during the last quarter. Institutional investors own 79.99% of the company's stock.

Eversource Energy Trading Down 0.2%

ES opened at $68.60 on Wednesday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.65 and a quick ratio of 0.59. Eversource Energy has a fifty-two week low of $58.03 and a fifty-two week high of $76.41. The firm has a market capitalization of $25.78 billion, a PE ratio of 15.01, a P/E/G ratio of 4.48 and a beta of 0.76. The company's 50-day moving average is $70.92 and its 200 day moving average is $70.07.

Eversource Energy (NYSE:ES - Get Free Report) last posted its earnings results on Thursday, February 12th. The utilities provider reported $1.12 earnings per share for the quarter, topping analysts' consensus estimates of $1.10 by $0.02. Eversource Energy had a net margin of 12.49% and a return on equity of 11.18%. The company had revenue of $3.37 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same quarter in the prior year, the business posted $1.01 EPS. The firm's revenue was up 13.4% compared to the same quarter last year. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. As a group, research analysts predict that Eversource Energy will post 4.72 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have commented on the stock. Mizuho cut their price target on shares of Eversource Energy from $75.00 to $70.00 and set a "neutral" rating on the stock in a research report on Thursday, March 26th. UBS Group dropped their price objective 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. Weiss Ratings reiterated a "hold (c+)" rating on shares of Eversource Energy in a report on Wednesday, January 28th. BMO Capital Markets dropped their price objective on shares of Eversource Energy from $79.00 to $75.00 and set a "market perform" rating on the stock in a report on Monday, March 23rd. Finally, Wells Fargo & Company dropped their price objective on shares of Eversource Energy from $78.00 to $74.00 and set an "overweight" rating on the stock in a report on Wednesday, April 1st. One 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's stock. According to MarketBeat, Eversource Energy has a consensus rating of "Hold" and a consensus price target of $71.80.

Insider Buying and Selling

In related news, insider Cotton M. Cleveland sold 2,581 shares of the company's stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $74.87, for a total value of $193,239.47. Following the sale, the insider owned 79,364 shares in the company, valued at $5,941,982.68. This represents a 3.15% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider John Y. Kim sold 6,000 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $73.57, for a total transaction of $441,420.00. Following the completion of the sale, the insider owned 12,339 shares of the company's stock, valued at approximately $907,780.23. This trade represents a 32.72% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 16,381 shares of company stock worth $1,211,079 in the last quarter. Insiders own 0.18% of the company's stock.

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.

Want to see what other hedge funds are holding ES? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Eversource Energy (NYSE:ES - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.