Eversource Energy $ES Shares Sold by The Manufacturers Life Insurance Company

Key Points

• The Manufacturers Life Insurance Company has reduced its position in Eversource Energy by 4.8%, owning approximately 0.20% of the company, valued at about $45.7 million.
• Insider Loretta D. Keane purchased 3,780 shares of Eversource Energy at an average cost of $66.07 per share, increasing their ownership by 45.80%.
• Eversource Energy reported earnings of $0.96 per share for the last quarter, exceeding analyst expectations, and revealed a projection of $4.670-4.820 EPS for FY 2025.

The Manufacturers Life Insurance Company lessened its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 4.8% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 735,720 shares of the utilities provider's stock after selling 36,811 shares during the period. The Manufacturers Life Insurance Company owned 0.20% of Eversource Energy worth $45,696,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Pinney & Scofield Inc. purchased a new position in shares of Eversource Energy during the 4th quarter worth $33,000. Rossby Financial LCC purchased a new stake in Eversource Energy in the 1st quarter valued at about $34,000. CoreCap Advisors LLC raised its holdings in Eversource Energy by 168.7% in the 4th 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 raised its holdings in 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 buying an additional 600 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new stake in Eversource Energy in the 1st quarter valued at about $46,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

Insiders Place Their Bets

In other news, insider Loretta D. Keane bought 3,780 shares of the company's stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $66.07 per share, with a total value of $249,744.60. Following the transaction, the insider directly owned 12,033 shares in the company, valued at $795,020.31. The trade was a 45.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

ES has been the topic of several research analyst reports. Bank of America boosted their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Mizuho boosted their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Finally, Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $64.38.

Eversource Energy Trading Up 0.1%

NYSE ES traded up $0.07 during trading on Friday, hitting $63.49. The stock had a trading volume of 1,653,333 shares, compared to its average volume of 2,186,111. The company has a market capitalization of $23.56 billion, a PE ratio of 27.25, a PEG ratio of 2.39 and a beta of 0.64. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. The firm has a 50 day moving average price of $65.15 and a 200 day moving average price of $62.69. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $68.73.

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

About Eversource Energy

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.