Eversource Energy $ES Shares Sold by Vident Advisory LLC

Key Points

• Vident Advisory LLC reduced its stake in Eversource Energy by 53.9%, owning 16,094 shares after selling 18,803 shares during the first quarter, with holdings valued at approximately $1 million.
• Insider Loretta D. Keane purchased 3,780 shares of Eversource Energy valued at about $249,744.60, increasing her position by 45.80%.
• Mizuho and Bank of America increased their price targets for Eversource Energy to $72.00 and $67.00 respectively, with the stock receiving a consensus rating of "Hold".

Vident Advisory LLC lessened its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 53.9% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 16,094 shares of the utilities provider's stock after selling 18,803 shares during the quarter. Vident Advisory LLC's holdings in Eversource Energy were worth $1,000,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. raised its stake in Eversource Energy by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider's stock valued at $2,792,559,000 after purchasing an additional 351,780 shares during the last quarter. Wellington Management Group LLP increased its stake in Eversource Energy by 4.5% in the 1st quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider's stock valued at $1,068,901,000 after purchasing an additional 739,448 shares in the last quarter. Magellan Asset Management Ltd increased its position in Eversource Energy by 6.2% during the 1st quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider's stock worth $427,090,000 after purchasing an additional 401,866 shares in the last quarter. Invesco Ltd. boosted its stake in Eversource Energy by 0.5% in the 1st quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider's stock worth $374,920,000 after buying an additional 32,304 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in Eversource Energy by 11.3% during the fourth 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 during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on ES. Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Bank of America raised their target price on Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Finally, Mizuho upped their price target on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. 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 data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $64.38.

Insider Activity

In other Eversource Energy news, insider Loretta D. Keane purchased 3,780 shares of the stock in a transaction that occurred 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 approximately $795,020.31. The trade was a 45.80% increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 0.41% of the company's stock.

Eversource Energy Stock Up 0.1%

Shares of ES stock traded up $0.07 on Friday, reaching $63.49. 1,653,333 shares of the company were exchanged, compared to its average volume of 2,186,111. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. The company has a market cap of $23.56 billion, a price-to-earnings ratio of 27.25, a PEG ratio of 2.39 and a beta of 0.64. The company has a 50-day moving average of $65.15 and a 200-day moving average of $62.69. Eversource Energy has a one year low of $52.28 and a one year high of $68.73.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. The company 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 firm's quarterly revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm earned $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Analysts anticipate 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.