WBI Investments LLC Makes New $1.19 Million Investment in Eversource Energy $ES

Key Points

• WBI Investments LLC has made a new investment in Eversource Energy, purchasing approximately $1.19 million worth of shares, totaling 19,232 shares in the first quarter.
• Institutional investors own 79.99% of Eversource Energy's stock, with several hedge funds, including Ameriprise Financial and Cetera Investment Advisers, increasing their holdings in the 4th quarter.
• Eversource Energy reported $0.96 earnings per share for the last quarter, slightly exceeding analysts' expectations of $0.95, despite revenue falling short of forecasts at $2.84 billion.

WBI Investments LLC purchased a new position in shares of Eversource Energy (NYSE:ES - Free Report) during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 19,232 shares of the utilities provider's stock, valued at approximately $1,194,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ES. Ameriprise Financial Inc. boosted its holdings in shares of Eversource Energy by 7.4% during the 4th quarter. Ameriprise Financial Inc. now owns 130,525 shares of the utilities provider's stock worth $7,494,000 after buying an additional 8,995 shares in the last quarter. Cetera Investment Advisers boosted its holdings in shares of Eversource Energy by 14.6% during the 4th quarter. Cetera Investment Advisers now owns 97,188 shares of the utilities provider's stock worth $5,582,000 after buying an additional 12,382 shares in the last quarter. CoreCap Advisors LLC boosted its holdings in shares of Eversource Energy by 168.7% during the 4th quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock worth $35,000 after buying an additional 383 shares in the last quarter. Laird Norton Wetherby Wealth Management LLC boosted its holdings in shares of Eversource Energy by 8.6% during the 4th quarter. Laird Norton Wetherby Wealth Management LLC now owns 10,016 shares of the utilities provider's stock worth $575,000 after buying an additional 795 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in shares of Eversource Energy by 46.4% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,723 shares of the utilities provider's stock worth $4,060,000 after buying an additional 22,421 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Price Performance

Shares of ES opened at $64.04 on Thursday. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $68.73. The business's fifty day moving average is $65.12 and its 200 day 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. The stock has a market cap of $23.76 billion, a P/E ratio of 27.48, a P/E/G ratio of 2.40 and a beta of 0.64.

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 (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 company had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same period last year, the business earned $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. Sell-side analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, insider Loretta D. Keane acquired 3,780 shares of the company's stock in a transaction on Friday, August 22nd. The shares were acquired at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the purchase, the insider 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

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

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.

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