National Pension Service Buys 47,676 Shares of Eversource Energy $ES

Key Points

• National Pension Service increased its stake in Eversource Energy by 9.9%, acquiring an additional 47,676 shares for a total of approximately $32.9 million.
• Institutional investors own 79.99% of Eversource Energy's stock, indicating strong institutional support for the company.
• Wall Street analysts have upgraded Eversource’s rating, with varying price targets, the consensus now being $65.56 as the average price target.

National Pension Service lifted its position in Eversource Energy (NYSE:ES - Free Report) by 9.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 528,981 shares of the utilities provider's stock after buying an additional 47,676 shares during the quarter. National Pension Service owned about 0.14% of Eversource Energy worth $32,855,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of ES. Ballentine Partners LLC increased its holdings in Eversource Energy by 4.9% in the 1st quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider's stock valued at $369,000 after buying an additional 277 shares during the period. Farther Finance Advisors LLC lifted its position in Eversource Energy by 105.6% during the 1st quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider's stock valued at $287,000 after purchasing an additional 2,374 shares during the period. Golden State Wealth Management LLC increased its stake in shares of Eversource Energy by 233.9% in the 1st quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider's stock valued at $52,000 after acquiring an additional 580 shares during the last quarter. Cambridge Investment Research Advisors Inc. increased its stake in shares of Eversource Energy by 14.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 66,402 shares of the utilities provider's stock valued at $4,124,000 after acquiring an additional 8,616 shares during the last quarter. Finally, Assenagon Asset Management S.A. increased its stake in shares of Eversource Energy by 5.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,942 shares of the utilities provider's stock valued at $866,000 after acquiring an additional 734 shares during the last quarter. Institutional investors own 79.99% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. BMO Capital Markets increased their target price on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Bank of America increased their price objective on Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Mizuho increased their price objective on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Finally, Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Three equities research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $65.56.

Eversource Energy Trading Up 0.2%

Shares of ES stock traded up $0.13 during mid-day trading on Wednesday, reaching $65.84. 653,442 shares of the stock traded hands, compared to its average volume of 2,670,354. The stock's fifty day simple moving average is $64.98 and its two-hundred day simple moving average is $62.34. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $69.01. The company has a market cap of $24.43 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 2.43 and a beta of 0.61. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67.

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

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.