SHP Wealth Management Takes $1.92 Million Position in Eversource Energy $ES

Key Points

• SHP Wealth Management opened a new position in Eversource Energy during the fourth quarter, buying 28,478 shares worth about $1.92 million.
• Eversource also saw significant institutional activity overall, with large investors like Norges Bank and Northwestern Mutual adding stakes; institutional ownership stands at 79.99%.
• The utility reported stronger-than-expected quarterly results, posting $1.73 EPS versus $1.59 expected and revenue of $4.50 billion, while also declaring a quarterly dividend of $0.7875 per share for a 4.5% yield.

SHP Wealth Management purchased a new position in Eversource Energy (NYSE:ES - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 28,478 shares of the utilities provider's stock, valued at approximately $1,917,000.

A number of other large investors also recently modified their holdings of ES. Norges Bank bought a new stake in Eversource Energy during the 4th quarter worth approximately $324,032,000. Northwestern Mutual Wealth Management Co. boosted its holdings in Eversource Energy by 23,707.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,649,747 shares of the utilities provider's stock valued at $313,067,000 after purchasing an additional 4,630,216 shares during the period. Victory Capital Management Inc. boosted its holdings in Eversource Energy by 61.8% in the 4th quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider's stock valued at $642,747,000 after purchasing an additional 3,645,555 shares during the period. Deutsche Bank AG grew its position in shares of Eversource Energy by 78.1% during the 4th quarter. Deutsche Bank AG now owns 5,341,986 shares of the utilities provider's stock valued at $359,676,000 after purchasing an additional 2,341,912 shares in the last quarter. Finally, Cohen & Steers Inc. purchased a new position in shares of Eversource Energy during the 4th quarter valued at $104,848,000. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Trading Down 0.1%

ES stock opened at $69.50 on Friday. The company has a market capitalization of $26.14 billion, a PE ratio of 14.85, a price-to-earnings-growth ratio of 4.60 and a beta of 0.71. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.65. Eversource Energy has a one year low of $61.53 and a one year high of $76.41. The company's 50 day moving average price is $68.81 and its two-hundred day moving average price is $69.41.

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

Eversource Energy Dividend Announcement

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

Insider Activity

In other news, VP Gregory B. Butler sold 7,000 shares of the firm's stock in a transaction dated 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 directly owned 56,179 shares of the company's stock, valued at approximately $3,925,788.52. This trade represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company's stock.

Analyst Ratings Changes

A number of brokerages recently issued reports on ES. Wells Fargo & Company increased their price objective on Eversource Energy from $74.00 to $75.00 and gave the stock an "overweight" rating in a research report on Friday, May 8th. BMO Capital Markets reduced their target price on Eversource Energy from $75.00 to $73.00 and set a "market perform" rating for the company in a research report on Monday, May 11th. Bank of America restated a "buy" rating and issued a $72.00 target price on shares of Eversource Energy in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. raised their price target on Eversource Energy from $72.00 to $75.00 and gave the company an "underweight" rating in a report on Thursday, March 12th. Finally, Mizuho dropped their price target on Eversource Energy from $75.00 to $70.00 and set a "neutral" rating for the company in a research report on Thursday, March 26th. Three 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. According to MarketBeat.com, Eversource Energy has a consensus rating of "Hold" and a consensus target price of $71.70.

Eversource Energy Company 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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