Eversource Energy $ES Stock Position Cut by Versor Investments LP

Key Points

• Versor Investments LP reduced its holdings in Eversource Energy by 73.5%, now owning 3,255 shares valued at approximately $202,000.
• Several other institutional investors have adjusted their positions; notable changes include Sterling Investment Counsel and Cromwell Holdings, which increased their holdings by 4.9% and 44.2% respectively.
• Eversource Energy reported earnings of $0.96 EPS, exceeding expectations, while total revenue was $2.84 billion, falling short of analyst forecasts.

Versor Investments LP trimmed its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 73.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,255 shares of the utilities provider's stock after selling 9,045 shares during the quarter. Versor Investments LP's holdings in Eversource Energy were worth $202,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Nuveen LLC acquired a new stake in shares of Eversource Energy in the 1st quarter valued at about $286,130,000. Vest Financial LLC acquired a new stake in Eversource Energy during the first quarter valued at approximately $60,273,000. Northern Trust Corp lifted its holdings in Eversource Energy by 18.0% during the 4th quarter. Northern Trust Corp now owns 3,699,583 shares of the utilities provider's stock worth $212,467,000 after buying an additional 564,409 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of Eversource Energy by 11.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,269 shares of the utilities provider's stock worth $316,857,000 after acquiring an additional 561,055 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in shares of Eversource Energy by 7,616.9% in the 1st quarter. GAMMA Investing LLC now owns 424,273 shares of the utilities provider's stock valued at $26,352,000 after acquiring an additional 418,775 shares during the last quarter. Institutional investors own 79.99% of the company's stock.

Eversource Energy Stock Performance

Shares of ES traded down $0.41 during midday trading on Thursday, hitting $64.39. 325,483 shares of the stock traded hands, compared to its average volume of 2,684,512. The business's 50 day moving average price is $65.05 and its two-hundred day moving average price is $62.57. The firm has a market capitalization of $23.90 billion, a PE ratio of 27.66, a price-to-earnings-growth ratio of 2.41 and a beta of 0.61. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $69.01.

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

Insider Activity

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The stock was acquired at an average cost of $66.07 per share, with a total value of $249,744.60. Following the acquisition, the insider directly owned 12,033 shares of the company's stock, valued at $795,020.31. This represents a 45.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

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

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.