Prudential PLC Purchases 23,244 Shares of Eversource Energy $ES

Key Points

• Prudential PLC increased its Eversource Energy stake by 16.4% in Q4, buying 23,244 additional shares and bringing its total holding to 165,065 shares worth about $11.1 million.
• Eversource reported stronger-than-expected quarterly results, posting $1.73 EPS on revenue of $4.50 billion, both above analyst estimates, and raised full-year guidance expectations.
• The company declared a quarterly dividend of $0.7875 per share, implying an annual yield of about 4.5%, even as analysts remain cautious with a consensus rating of Hold.

Prudential PLC lifted its position in Eversource Energy (NYSE:ES - Free Report) by 16.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 165,065 shares of the utilities provider's stock after acquiring an additional 23,244 shares during the quarter. Prudential PLC's holdings in Eversource Energy were worth $11,114,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Tokio Marine Asset Management Co. Ltd. boosted its holdings in shares of Eversource Energy by 1.1% in the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,287 shares of the utilities provider's stock worth $895,000 after buying an additional 142 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Eversource Energy by 1.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 11,988 shares of the utilities provider's stock worth $807,000 after buying an additional 160 shares during the last quarter. Parallel Advisors LLC boosted its holdings in shares of Eversource Energy by 4.9% in the 3rd quarter. Parallel Advisors LLC now owns 3,636 shares of the utilities provider's stock worth $259,000 after buying an additional 169 shares during the last quarter. Root Financial Partners LLC boosted its holdings in shares of Eversource Energy by 49.9% in the 4th quarter. Root Financial Partners LLC now owns 538 shares of the utilities provider's stock worth $36,000 after buying an additional 179 shares during the last quarter. Finally, Exencial Wealth Advisors LLC boosted its holdings in shares of Eversource Energy by 5.7% in the 4th quarter. Exencial Wealth Advisors LLC now owns 3,458 shares of the utilities provider's stock worth $233,000 after buying an additional 185 shares during the last quarter. Institutional investors own 79.99% of the company's stock.

Insider Activity

In other news, VP Gregory B. Butler sold 7,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $69.88, for a total value of $489,160.00. Following the sale, the vice president directly owned 56,179 shares of the company's stock, valued at approximately $3,925,788.52. This represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 0.18% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on ES shares. Scotiabank cut their price target on shares of Eversource Energy from $66.00 to $63.00 and set a "sector underperform" rating on the stock in a report on Tuesday, April 21st. Mizuho cut their price target on shares of Eversource Energy from $75.00 to $70.00 and set a "neutral" rating on the stock in a report on Thursday, March 26th. UBS Group cut their price target on shares of Eversource Energy from $80.00 to $74.00 and set a "neutral" rating on the stock in a report on Friday, March 27th. JPMorgan Chase & Co. boosted their price target on shares of Eversource Energy from $72.00 to $75.00 and gave the stock an "underweight" rating in a report on Thursday, March 12th. Finally, Argus raised shares of Eversource Energy to a "strong-buy" rating in a report on Tuesday, March 24th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company's stock. According to MarketBeat.com, Eversource Energy has an average rating of "Hold" and a consensus target price of $71.70.

Eversource Energy Price Performance

NYSE ES opened at $70.56 on Friday. The company has a market cap of $26.54 billion, a PE ratio of 15.08, a price-to-earnings-growth ratio of 4.63 and a beta of 0.71. Eversource Energy has a 52 week low of $61.53 and a 52 week high of $76.41. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.62. The firm's 50-day simple moving average is $68.81 and its two-hundred day simple moving average is $69.29.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.59 by $0.14. The business had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.21 billion. Eversource Energy had a net margin of 12.55% and a return on equity of 11.59%. The company's revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.50 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Research analysts predict that Eversource Energy will post 4.65 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th will be issued a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date of this dividend is Monday, May 18th. Eversource Energy's dividend payout ratio is presently 67.31%.

Eversource Energy Profile

Eversource Energy NYSE: ES is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company's core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.

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