Trexquant Investment LP Increases Stock Holdings in Eversource Energy $ES

Key Points

• Trexquant Investment LP significantly increased its stake in Eversource Energy by 1,031.8%, acquiring an additional 128,904 shares in the first quarter, bringing its total holdings to 141,397 shares valued at approximately $8.78 million.
• Eversource Energy reported quarterly earnings, posting an EPS of $0.96, slightly above the consensus estimate of $0.95, with revenue of $2.84 billion, below the anticipated $3.01 billion.
• Shares of Eversource Energy are trading around $64.09, with a consensus rating of "Hold" and a price target averaging $64.38 from various analysts.

Trexquant Investment LP lifted its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 1,031.8% during the first quarter, according to its most recent disclosure with the SEC. The fund owned 141,397 shares of the utilities provider's stock after acquiring an additional 128,904 shares during the period. Trexquant Investment LP's holdings in Eversource Energy were worth $8,782,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Pinney & Scofield Inc. purchased a new position in Eversource Energy in the 4th quarter valued at about $33,000. Rossby Financial LCC purchased a new stake in Eversource Energy during the first quarter worth about $34,000. CoreCap Advisors LLC increased its stake in Eversource Energy by 168.7% during the fourth quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock worth $35,000 after purchasing an additional 383 shares during the period. First Financial Corp IN boosted 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 buying an additional 600 shares during the period. Finally, Zions Bancorporation National Association UT purchased a new position in shares of 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.

Analyst Upgrades and Downgrades

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

Eversource Energy Stock Performance

Shares of NYSE ES traded down $0.36 during midday trading on Wednesday, reaching $63.34. 1,031,031 shares of the company were exchanged, compared to its average volume of 2,672,735. The company has a current ratio of 0.71, a quick ratio of 0.63 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 stock has a fifty day simple moving average of $65.13 and a 200 day simple moving average of $62.66. The stock has a market cap of $23.51 billion, a P/E ratio of 27.18, a PEG ratio of 2.41 and a beta of 0.64.

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

Insider Transactions at Eversource Energy

In other news, insider Loretta D. Keane purchased 3,780 shares of the business's stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $66.07 per share, with a total value of $249,744.60. Following the completion of the acquisition, the insider directly owned 12,033 shares of the company's stock, valued at approximately $795,020.31. This trade represents a 45.80% increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.41% of the stock is owned by corporate insiders.

Eversource Energy 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.