Northern Trust Corp Has $244.65 Million Stock Position in Eversource Energy $ES

Key Points

• Northern Trust Corp increased its stake in Eversource Energy by 6.5% to approximately $244.65 million, owning about 3,939,023 shares as of its latest filing.
• Other institutional investors, including Vanguard Group and Magellan Asset Management, also raised their positions in Eversource Energy, which is largely owned by institutional investors at 79.99%.
• Eversource Energy reported a quarterly earnings per share (EPS) of $0.96, exceeding estimates, while its revenue for the quarter was $2.84 billion, below consensus expectations.

Northern Trust Corp boosted its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 3,939,023 shares of the utilities provider's stock after purchasing an additional 239,440 shares during the period. Northern Trust Corp owned approximately 1.07% of Eversource Energy worth $244,653,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new stake in Eversource Energy during the fourth quarter valued at approximately $33,000. Rossby Financial LCC purchased a new stake in shares of Eversource Energy in the 1st quarter valued at approximately $34,000. CoreCap Advisors LLC lifted its position 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 valued at $35,000 after acquiring an additional 383 shares in the last quarter. First Financial Corp IN lifted its position in shares of Eversource Energy by 3,529.4% in the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 600 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Eversource Energy in the 1st quarter valued at approximately $46,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on ES shares. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Mizuho upped their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. BMO Capital Markets upped their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research report on Monday, April 28th. Finally, Bank of America upped their price target on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $64.38.

Eversource Energy Stock Up 1.6%

Eversource Energy stock traded up $1.0750 during trading hours on Friday, hitting $66.4950. The company had a trading volume of 1,526,442 shares, compared to its average volume of 2,022,393. The firm has a market capitalization of $24.68 billion, a P/E ratio of 28.54, a price-to-earnings-growth ratio of 2.50 and a beta of 0.61. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. The firm's fifty day moving average is $65.00 and its 200-day moving average is $62.49. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01.

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, beating the consensus estimate 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 net margin of 6.60% and a return on equity of 11.00%. The company's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

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.