The Manufacturers Life Insurance Company Acquires Shares of 736,012 Eversource Energy $ES

Key Points

• The Manufacturers Life Insurance Company acquired 736,012 shares of Eversource Energy during the second quarter, worth approximately $53.2 million and representing about 0.20% of the company. Institutional investors and hedge funds collectively own nearly 80% of Eversource.
• Wall Street maintains a cautious stance, with Eversource receiving an average “Hold” rating and a consensus price target of $72.92. Analyst views include four Buy, six Hold and three Sell ratings.
• Eversource reported quarterly EPS of $0.87, matching estimates, while revenue reached $2.90 billion, below the $2.99 billion consensus but up 2.3% year over year. The stock recently traded at $71.78, within its 12-month range of $62.45 to $76.57.

The Manufacturers Life Insurance Company acquired a new stake in Eversource Energy (NYSE:ES - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 736,012 shares of the utilities provider's stock, valued at approximately $53,192,000. The Manufacturers Life Insurance Company owned about 0.20% of Eversource Energy at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ES. Elevation Wealth Partners LLC lifted its position in Eversource Energy by 220.2% during the second 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 period. Activest Wealth Management raised its stake in shares of Eversource Energy by 2,337.5% during the 4th quarter. Activest Wealth Management now owns 390 shares of the utilities provider's stock valued at $26,000 after buying an additional 374 shares during the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in shares of Eversource Energy during the 2nd quarter valued at about $26,000. Garton & Associates Financial Advisors LLC acquired a new position in shares of Eversource Energy in the 4th quarter valued at about $28,000. Finally, Godfrey Financial Associates Inc. acquired a new position in shares of Eversource Energy in the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 79.99% of the company's stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the company. Argus lowered Eversource Energy from a "buy" rating to a "hold" rating in a report on Friday, June 12th. Citigroup reissued a "hold" rating and issued a $81.00 price target on shares of Eversource Energy in a report on Monday, July 27th. Mizuho upped their price objective on Eversource Energy from $70.00 to $74.00 and gave the stock a "neutral" rating in a research report on Monday, August 3rd. Capital One Financial set a $73.00 price objective on shares of Eversource Energy in a research note on Wednesday, July 1st. Finally, Wells Fargo & Company lifted their target price on shares of Eversource Energy from $75.00 to $76.00 and gave the company an "overweight" rating in a report on Thursday, July 2nd. 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, Eversource Energy presently has an average rating of "Hold" and a consensus target price of $72.92.

Eversource Energy Stock Up 1.1%

Eversource Energy stock opened at $71.78 on Thursday. The stock has a market capitalization of $27.04 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 5.24 and a beta of 0.70. Eversource Energy has a 12 month low of $62.45 and a 12 month high of $76.57. The business has a 50 day simple moving average of $72.83 and a 200-day simple moving average of $71.06. 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 announced its earnings results on Thursday, July 30th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, meeting analysts' consensus estimates of $0.87. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%.The firm had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the firm posted $0.96 EPS. The business's revenue was up 2.3% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, analysts anticipate that Eversource Energy will post 4.64 EPS for the current fiscal year.

Insiders Place Their Bets

In other Eversource Energy news, VP Gregory B. Butler sold 7,000 shares of the company's stock in a transaction on Thursday, June 4th. The shares were sold at an average price of $69.88, for a total transaction of $489,160.00. Following the completion of the transaction, the vice president directly owned 56,179 shares in the company, valued at approximately $3,925,788.52. This represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company's stock.

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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