Rakuten Investment Management Inc. Takes Position in Eversource Energy $ES

Key Points

• Rakuten Investment Management acquired 61,499 shares of Eversource Energy during the second quarter, worth approximately $4.54 million. Institutional investors collectively own nearly 80% of the company.
• Eversource’s latest quarterly earnings matched analysts’ expectations at $0.87 per share, while revenue of $2.90 billion fell short of the $2.99 billion consensus estimate but increased 2.3% year over year.
• Analyst sentiment remains mixed, with an overall “Hold” rating and an average price target of $72.92; Eversource shares recently opened at $70.84.

Rakuten Investment Management Inc. bought a new stake in Eversource Energy (NYSE:ES - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 61,499 shares of the utilities provider's stock, valued at approximately $4,537,000.

Several other hedge funds also recently made changes to their positions in ES. Elevation Wealth Partners LLC lifted its holdings in shares of Eversource Energy by 220.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider's stock valued at $25,000 after purchasing an additional 240 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new stake in Eversource Energy in the second quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC purchased a new stake in Eversource Energy in the fourth quarter valued at approximately $28,000. Godfrey Financial Associates Inc. acquired a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $29,000. Finally, First Bancorp Inc ME purchased a new position in shares of Eversource Energy during the second quarter worth approximately $30,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

Insider Buying and Selling at Eversource Energy

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ES. Weiss Ratings raised shares of Eversource Energy from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 10th. Citigroup reissued a "hold" rating and set a $81.00 price target on shares of Eversource Energy in a report on Monday, July 27th. BMO Capital Markets lowered their price target on shares of Eversource Energy from $73.00 to $72.00 and set a "market perform" rating on the stock in a research note on Wednesday, July 22nd. Wells Fargo & Company upped their price target on Eversource Energy from $75.00 to $76.00 and gave the stock an "overweight" rating in a report on Thursday, July 2nd. Finally, Argus downgraded shares of Eversource Energy from a "buy" rating to a "hold" rating in a report on Friday, June 12th. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, Eversource Energy currently has an average rating of "Hold" and an average price target of $72.92.

Eversource Energy Stock Performance

NYSE:ES opened at $70.84 on Monday. The firm has a 50 day simple moving average of $72.88 and a 200-day simple moving average of $71.11. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.80 and a quick ratio of 0.74. The firm has a market cap of $26.68 billion, a PE ratio of 18.35, a P/E/G 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.

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

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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