Public Employees Retirement System of Ohio Invests $8.18 Million in Eversource Energy $ES

Key Points

• Public Employees Retirement System of Ohio initiated an $8.18 million position in Eversource Energy during the second quarter, while institutional investors collectively own 79.99% of the stock.
• Eversource reported quarterly EPS of $0.87, matching analyst estimates, while revenue of $2.90 billion fell short of the $2.99 billion consensus but increased 2.3% year over year.
• Analyst sentiment remains mixed, with an average “Hold” rating and a $72.92 price target; shares recently opened at $70.30, down 0.8%.

Public Employees Retirement System of Ohio purchased a new position in Eversource Energy (NYSE:ES - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 113,134 shares of the utilities provider's stock, valued at approximately $8,176,000.

A number of other large investors also recently added to or reduced their stakes in the stock. MASTERINVEST Kapitalanlage GmbH acquired a new stake in shares of Eversource Energy in the second quarter valued at about $1,090,000. Redwood Investment Management LLC acquired a new stake in shares of Eversource Energy in the second quarter valued at approximately $869,000. Proficio Capital Partners LLC acquired a new stake in shares of Eversource Energy in the 2nd quarter worth $479,000. Corient Private Wealth LP acquired a new stake in Eversource Energy during the second quarter worth about $5,634,000. Finally, Bank of America Corp DE acquired a new stake in shares of Eversource Energy during the 2nd quarter worth approximately $106,078,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eversource Energy news, VP Gregory B. Butler sold 7,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $69.88, for a total value of $489,160.00. Following the transaction, the vice president directly owned 56,179 shares in the company, valued at $3,925,788.52. This represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by corporate insiders.

Eversource Energy Stock Down 0.8%

Shares of NYSE ES opened at $70.30 on Tuesday. The business has a 50-day moving average of $72.89 and a two-hundred day moving average of $71.12. The company has a market capitalization of $26.48 billion, a price-to-earnings ratio of 18.21, a price-to-earnings-growth ratio of 5.22 and a beta of 0.70. Eversource Energy has a 1 year low of $62.45 and a 1 year high of $76.57. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.80 and a quick ratio of 0.74.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.87 EPS for the quarter, meeting analysts' consensus estimates of $0.87. The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.99 billion. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%.The business's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.96 EPS. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, analysts forecast that Eversource Energy will post 4.64 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company increased their price objective on shares of Eversource Energy from $75.00 to $76.00 and gave the stock an "overweight" rating in a research report on Thursday, July 2nd. Argus lowered Eversource Energy from a "buy" rating to a "hold" rating in a research report on Friday, June 12th. Mizuho lifted their price objective on Eversource Energy from $70.00 to $74.00 and gave the company a "neutral" rating in a research note on Monday, August 3rd. Capital One Financial set a $73.00 price objective on Eversource Energy in a report on Wednesday, July 1st. Finally, Weiss Ratings upgraded Eversource Energy from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 10th. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Eversource Energy has an average rating of "Hold" and an average target price of $72.92.

About Eversource Energy

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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