Russell Investments Group Ltd. Trims Position in Eversource Energy $ES

Key Points

• Russell Investments Group Ltd. has reduced its stake in Eversource Energy by 27.3%, owning approximately 566,329 shares valued at $35.16 million after selling 212,568 shares.
• Eversource Energy's stock has seen a decline of 1.1% recently, with current trading around $65.55 and a market cap of $24.33 billion.
• In its latest earnings report, Eversource Energy reported $0.96 earnings per share, slightly beating estimates, but revenue of $2.84 billion fell short of expectations.

Russell Investments Group Ltd. decreased its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 27.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 566,329 shares of the utilities provider's stock after selling 212,568 shares during the quarter. Russell Investments Group Ltd. owned 0.15% of Eversource Energy worth $35,156,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Pinney & Scofield Inc. purchased a new position in Eversource Energy in the fourth quarter worth $33,000. Rossby Financial LCC bought a new stake in Eversource Energy in the 1st quarter worth approximately $34,000. CoreCap Advisors LLC boosted its position in Eversource Energy by 168.7% during the fourth quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock valued at $35,000 after buying an additional 383 shares during the period. First Financial Corp IN lifted its stake in shares of Eversource Energy by 3,529.4% in the 1st 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 last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in Eversource Energy during the 1st quarter valued at about $46,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

Analysts Set New Price Targets

Several analysts recently issued reports on ES shares. BMO Capital Markets raised their target price on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Bank of America boosted their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Mizuho lifted their target price on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Three analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Eversource Energy has an average rating of "Hold" and a consensus target price of $65.56.

Eversource Energy Price Performance

ES stock traded up $0.5450 during trading on Tuesday, reaching $65.0850. The company's stock had a trading volume of 233,845 shares, compared to its average volume of 2,675,920. The company's fifty day moving average is $64.99 and its 200-day moving average is $62.31. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The company has a market capitalization of $24.15 billion, a P/E ratio of 27.92, a price-to-earnings-growth ratio of 2.46 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same period in the prior year, the company earned $0.95 EPS. The business's revenue was up 12.0% compared to the same quarter last year. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, research analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

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.