Victory Capital Management Inc. Boosts Stock Position in Eversource Energy $ES

Key Points

• Victory Capital Management boosted its Eversource Energy stake by 61.8% in Q4, buying 3.65 million additional shares and ending with 9.55 million shares valued at about $642.7 million.
• Eversource reported strong quarterly results, posting EPS of $1.73 versus estimates of $1.59 and revenue of $4.50 billion versus expectations of $4.21 billion, with revenue up 9.4% year over year.
• The company also announced a quarterly dividend of $0.7875 per share, implying an annualized yield of 4.6%, while analysts currently rate the stock a consensus Hold with a $71.70 target price.

Victory Capital Management Inc. lifted its position in Eversource Energy (NYSE:ES - Free Report) by 61.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 9,546,217 shares of the utilities provider's stock after buying an additional 3,645,555 shares during the quarter. Victory Capital Management Inc. owned approximately 2.54% of Eversource Energy worth $642,747,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ES. Lodestone Wealth Management LLC purchased a new stake in shares of Eversource Energy in the 4th quarter valued at $25,000. Activest Wealth Management raised its holdings in shares of Eversource Energy by 2,337.5% in 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 period. TFC Financial Management Inc. raised its holdings in shares of Eversource Energy by 2,857.1% in the 4th quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider's stock valued at $28,000 after buying an additional 400 shares during the period. Key Capital Management INC purchased a new stake in shares of Eversource Energy in the 4th quarter valued at $29,000. Finally, Godfrey Financial Associates Inc. purchased a new stake in Eversource Energy during the 4th quarter worth about $29,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have weighed in on ES shares. Bank of America restated a "buy" rating and set a $72.00 price target on shares of Eversource Energy in a report on Wednesday, April 22nd. Scotiabank cut their price target on Eversource Energy from $66.00 to $63.00 and set a "sector underperform" rating on the stock in a report on Tuesday, April 21st. Wells Fargo & Company upped their price target on Eversource Energy from $74.00 to $75.00 and gave the stock an "overweight" rating in a report on Friday, May 8th. JPMorgan Chase & Co. upped their price target on Eversource Energy from $72.00 to $75.00 and gave the stock an "underweight" rating in a report on Thursday, March 12th. Finally, Argus downgraded Eversource Energy from a "buy" rating to a "hold" rating in a report on Friday. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Eversource Energy presently has a consensus rating of "Hold" and a consensus target price of $71.70.

Eversource Energy Stock Up 0.4%

Shares of NYSE ES opened at $68.70 on Friday. The stock has a market cap of $25.84 billion, a PE ratio of 14.68, a price-to-earnings-growth ratio of 4.53 and a beta of 0.71. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.62. Eversource Energy has a 52-week low of $61.53 and a 52-week high of $76.41. The business has a 50-day moving average price of $68.83 and a 200 day moving average price of $69.30.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.59 by $0.14. The firm had revenue of $4.50 billion during the quarter, compared to analysts' expectations of $4.21 billion. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The business's revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm earned $1.50 EPS. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Equities research analysts forecast that Eversource Energy will post 4.65 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, May 18th will be given a $0.7875 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.6%. Eversource Energy's dividend payout ratio is 67.31%.

Insider Activity

In related news, VP Gregory B. Butler sold 7,000 shares of the company's stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $69.88, for a total value of $489,160.00. Following the completion of the sale, the vice president directly owned 56,179 shares of the company's stock, valued at $3,925,788.52. This represents a 11.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.18% of the stock is currently owned by company insiders.

Eversource Energy Company 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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