Eversource Energy $ES Stake Lowered by NFJ Investment Group LLC

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 lessened its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 1.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,075,943 shares of the utilities provider's stock after selling 11,306 shares during the quarter. Eversource Energy comprises 2.2% of NFJ Investment Group LLC's investment portfolio, making the stock its 2nd largest position. NFJ Investment Group LLC owned about 0.29% of Eversource Energy worth $66,827,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the business. Nuveen LLC bought a new stake in Eversource Energy in the 1st quarter worth approximately $286,130,000. Vest Financial LLC bought a new stake in Eversource Energy in the 1st quarter worth approximately $60,273,000. Wellington Management Group LLP lifted its position in Eversource Energy by 4.5% in the 1st quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider's stock worth $1,068,901,000 after buying an additional 739,448 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Eversource Energy by 11.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,269 shares of the utilities provider's stock worth $316,857,000 after buying an additional 561,055 shares during the last quarter. Finally, GAMMA Investing LLC lifted its position in Eversource Energy by 7,616.9% in the 1st quarter. GAMMA Investing LLC now owns 424,273 shares of the utilities provider's stock worth $26,352,000 after buying an additional 418,775 shares during the last quarter. Institutional investors own 79.99% of the company's stock.

Eversource Energy Trading Up 0.1%

Shares of ES traded up $0.07 during mid-day trading on Friday, hitting $63.49. 1,653,333 shares of the company's stock traded hands, compared to its average volume of 2,160,644. 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 has a 1 year low of $52.28 and a 1 year high of $68.73. The firm has a market capitalization of $23.56 billion, a P/E ratio of 27.25, a PEG ratio of 2.39 and a beta of 0.64. The business's 50-day moving average price is $65.15 and its 200-day moving average price is $62.69.

Eversource Energy (NYSE:ES - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The firm 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 firm earned $0.95 earnings per share. The business's revenue 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, sell-side analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Insider Activity

In other Eversource Energy news, insider Loretta D. Keane bought 3,780 shares of Eversource Energy stock in a transaction dated Friday, August 22nd. The shares were purchased at an average cost of $66.07 per share, with a total value of $249,744.60. Following the completion of the purchase, the insider owned 12,033 shares of the company's stock, 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 this hyperlink. Company insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

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

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.