Northwestern Mutual Wealth Management Co. Increases Stock Holdings in Eversource Energy $ES

Key Points

• Northwestern Mutual Wealth Management Co. increased its stake in Eversource Energy by 56.0%, purchasing an additional 8,622 shares, bringing their total to 24,019 shares valued at approximately $1.49 million.
• Eversource Energy reported $0.96 earnings per share for the latest quarter, exceeding analysts' expectations, although its revenue of $2.84 billion fell short of the consensus estimate.
• Major institutional investors hold 79.99% of Eversource Energy’s stock, indicating strong interest from hedge funds and institutional investors.

Northwestern Mutual Wealth Management Co. raised its stake in Eversource Energy (NYSE:ES - Free Report) by 56.0% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 24,019 shares of the utilities provider's stock after purchasing an additional 8,622 shares during the period. Northwestern Mutual Wealth Management Co.'s holdings in Eversource Energy were worth $1,492,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in ES. Pinney & Scofield Inc. purchased a new position in Eversource Energy in the fourth quarter valued at approximately $33,000. Rossby Financial LCC acquired a new stake in shares of Eversource Energy in the first quarter valued at approximately $34,000. CoreCap Advisors LLC boosted its holdings in shares of Eversource Energy by 168.7% in the fourth quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock valued at $35,000 after acquiring an additional 383 shares during the period. First Financial Corp IN boosted its holdings in shares of Eversource Energy by 3,529.4% in the first 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 during the period. Finally, Zions Bancorporation National Association UT acquired a new stake in shares of Eversource Energy in the first quarter valued at approximately $46,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Price Performance

Shares of NYSE ES opened at $64.09 on Friday. 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 stock has a fifty day moving average price of $65.12 and a 200 day moving average price of $62.63. 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 $23.78 billion, a PE ratio of 27.50, a P/E/G ratio of 2.41 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results 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. 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 during the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the company earned $0.95 earnings per share. The company's revenue for the quarter was up 12.0% on a year-over-year basis. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Sell-side analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Insider Buying and Selling at Eversource Energy

In related news, insider Loretta D. Keane purchased 3,780 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $66.07 per share, with a total value of $249,744.60. Following the completion of the acquisition, the insider directly owned 12,033 shares in the company, valued at $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. 0.41% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on ES shares. Wall Street Zen raised Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. 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. Finally, 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. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average price target 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.

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