Royal Bank of Canada Buys 57,455 Shares of Eversource Energy $ES

Key Points

• Royal Bank of Canada increased its Eversource Energy stake by 2.1% in the first quarter, acquiring 57,455 shares and bringing its holdings to 2.76 million shares worth approximately $191.1 million. Institutional investors collectively own 79.99% of the company.
• Analyst sentiment is mixed: Eversource has an average “Hold” rating and a consensus price target of $72.58, with four Buy, six Hold, and three Sell ratings.
• Eversource reported quarterly earnings of $1.73 per share, exceeding expectations, while revenue rose 9.4% year over year to $4.50 billion. The company also pays a quarterly dividend of $0.7875 per share, equivalent to a 4.2% annualized yield.

Royal Bank of Canada boosted its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 2.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,757,798 shares of the utilities provider's stock after acquiring an additional 57,455 shares during the period. Royal Bank of Canada owned 0.73% of Eversource Energy worth $191,060,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. Empowered Funds LLC increased its holdings in shares of Eversource Energy by 8.9% in the first quarter. Empowered Funds LLC now owns 16,149 shares of the utilities provider's stock worth $1,003,000 after purchasing an additional 1,319 shares during the last quarter. Woodline Partners LP grew its holdings in Eversource Energy by 40.8% during the 1st quarter. Woodline Partners LP now owns 30,988 shares of the utilities provider's stock valued at $1,925,000 after buying an additional 8,984 shares in the last quarter. Acadian Asset Management LLC grew its holdings in Eversource Energy by 115.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,497 shares of the utilities provider's stock valued at $92,000 after buying an additional 801 shares in the last quarter. Schnieders Capital Management LLC. increased its stake in Eversource Energy by 87.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,444 shares of the utilities provider's stock worth $3,718,000 after acquiring an additional 27,332 shares during the last quarter. Finally, Brown Advisory Inc. raised its holdings in shares of Eversource Energy by 4.6% during the 2nd quarter. Brown Advisory Inc. now owns 7,933 shares of the utilities provider's stock worth $505,000 after acquiring an additional 349 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of research analysts have recently commented on ES shares. Bank of America reiterated a "buy" rating and set a $72.00 target price on shares of Eversource Energy in a research report on Wednesday, April 22nd. Seaport Research Partners downgraded shares of Eversource Energy from a "buy" rating to a "neutral" rating in a research note on Monday, April 20th. BMO Capital Markets lowered their price objective on shares of Eversource Energy from $73.00 to $72.00 and set a "market perform" rating for the company in a research report on Wednesday, July 22nd. Argus cut shares of Eversource Energy from a "buy" rating to a "hold" rating in a research note on Friday, June 12th. Finally, Capital One Financial set a $73.00 target price on shares of Eversource Energy in a report on Wednesday, July 1st. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Eversource Energy has an average rating of "Hold" and a consensus target price of $72.58.

Insiders Place Their Bets

In other news, VP Gregory B. Butler sold 7,000 shares of the stock in a transaction 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 sale, the vice president 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 legal filing with the SEC, which can be accessed through this link. 0.18% of the stock is owned by company insiders.

Eversource Energy Price Performance

NYSE:ES opened at $74.80 on Thursday. The firm has a market capitalization of $28.13 billion, a price-to-earnings ratio of 15.98, a PEG ratio of 5.56 and a beta of 0.70. Eversource Energy has a 1 year low of $61.53 and a 1 year high of $76.57. The business has a 50 day simple moving average of $71.71 and a 200-day simple moving average of $70.71. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.65 and a quick ratio of 0.59.

Eversource Energy (NYSE:ES - Get Free Report) last released its earnings results on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.14. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The firm had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the company posted $1.50 EPS. The company's revenue for the quarter was up 9.4% compared to the same quarter last year. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Equities analysts forecast that Eversource Energy will post 4.64 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, May 18th were given a dividend of $0.7875 per share. The ex-dividend date was Monday, May 18th. This represents a $3.15 dividend on an annualized basis and a yield of 4.2%. Eversource Energy's payout ratio is 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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