Eversource Energy $ES is NFJ Investment Group LLC's 2nd Largest Position

Key Points

• NFJ Investment Group LLC has reduced its stake in Eversource Energy by 1.0%, selling 11,306 shares, and now holds approximately 1,075,943 shares valued at $66.83 million.
• Bank of America and Mizuho have both raised their price targets for Eversource Energy, with Bank of America setting a new target of $67.00 and Mizuho at $72.00, reflecting improved analyst sentiment towards the stock.
• In its latest quarterly earnings report, Eversource Energy surpassed earnings expectations with $0.96 EPS, although it reported lower revenue of $2.84 billion, below the consensus estimate of $3.01 billion.

NFJ Investment Group LLC reduced its stake in Eversource Energy (NYSE:ES - Free Report) by 1.0% in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,075,943 shares of the utilities provider's stock after selling 11,306 shares during the period. Eversource Energy accounts for about 2.2% of NFJ Investment Group LLC's investment portfolio, making the stock its 2nd biggest holding. NFJ Investment Group LLC owned about 0.29% of Eversource Energy worth $66,827,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Pinney & Scofield Inc. acquired a new position in Eversource Energy during the 4th quarter valued at approximately $33,000. Rossby Financial LCC bought a new position in shares of Eversource Energy during the first quarter worth about $34,000. CoreCap Advisors LLC increased its holdings in shares of Eversource Energy by 168.7% in the 4th quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock worth $35,000 after acquiring an additional 383 shares during the period. First Financial Corp IN boosted its stake in Eversource Energy by 3,529.4% during the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 600 shares during the period. Finally, Zions Bancorporation National Association UT bought a new position in Eversource Energy in the 1st quarter worth about $46,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Loretta D. Keane acquired 3,780 shares of the business's stock in a transaction on Friday, August 22nd. The shares were purchased at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the acquisition, the insider owned 12,033 shares in the company, valued at approximately $795,020.31. This represents a 45.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.19% of the company's stock.

Eversource Energy Price Performance

Eversource Energy stock traded up $0.11 during mid-day trading on Wednesday, hitting $63.99. The company's stock had a trading volume of 1,085,987 shares, compared to its average volume of 2,663,178. The stock has a market capitalization of $23.75 billion, a P/E ratio of 27.46, a P/E/G ratio of 2.36 and a beta of 0.64. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $68.73. The stock's fifty day moving average price is $65.13 and its two-hundred day moving average price is $62.69. 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 released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. The business had revenue of $2.84 billion during 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 company's revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company posted $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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