UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Boosts Holdings in Eversource Energy $ES

Key Points

• UBS AM increased its stake in Eversource Energy by 3.4% in Q1, owning approximately 1.55% of the company, valued at $354 million.
• Recent analyst upgrades have raised Eversource Energy's target price, with Bank of America increasing it from $62 to $67 and Mizuho from $68 to $72.
• Insider transactions were notable, with Loretta D. Keane buying 3,780 shares, reflecting a 45.80% increase in her ownership of the stock.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Eversource Energy (NYSE:ES - Free Report) by 3.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,702,415 shares of the utilities provider's stock after buying an additional 185,146 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 1.55% of Eversource Energy worth $354,177,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Optimize Financial Inc purchased a new position in shares of Eversource Energy in the 1st quarter valued at $264,000. Woodline Partners LP grew its position in shares of Eversource Energy by 40.8% in the 1st quarter. Woodline Partners LP now owns 30,988 shares of the utilities provider's stock valued at $1,925,000 after buying an additional 8,984 shares during the last quarter. McIlrath & Eck LLC grew its position in shares of Eversource Energy by 9,415.5% in the 1st quarter. McIlrath & Eck LLC now owns 5,519 shares of the utilities provider's stock valued at $343,000 after buying an additional 5,461 shares during the last quarter. Empowered Funds LLC increased its stake in Eversource Energy by 8.9% in the first quarter. Empowered Funds LLC now owns 16,149 shares of the utilities provider's stock valued at $1,003,000 after purchasing an additional 1,319 shares during the period. Finally, MBB Public Markets I LLC acquired a new position in Eversource Energy in the first quarter valued at $322,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

Insider Buying and Selling at Eversource Energy

In other news, insider Loretta D. Keane bought 3,780 shares of the stock in a transaction dated Friday, August 22nd. The shares were acquired at an average price 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 in the company, valued at approximately $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.41% of the stock is currently owned by insiders.

Eversource Energy Stock Up 0.2%

Shares of NYSE:ES opened at $64.04 on Thursday. The company has a market cap of $23.76 billion, a price-to-earnings ratio of 27.48, a PEG ratio of 2.40 and a beta of 0.64. The firm's 50-day simple moving average is $65.12 and its 200-day simple moving average is $62.70. 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 fifty-two week low of $52.28 and a fifty-two week high of $68.73.

Eversource Energy (NYSE:ES - Get Free Report) last issued 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 business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The business's quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.95 earnings per share. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. As a group, equities research analysts predict that Eversource Energy will post 4.75 earnings per share for the current 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.

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