Wedge Capital Management L L P NC Increases Stock Position in Eversource Energy $ES

Key Points

• Wedge Capital Management increased its Eversource Energy stake by 13.2% in the second quarter, adding 40,993 shares to own 352,400 shares valued at approximately $25.5 million. Institutional investors collectively hold nearly 80% of Eversource’s stock.
• Eversource reported quarterly EPS of $0.87, matching analyst estimates, while revenue rose 2.3% year over year to $2.90 billion but fell short of expectations. The company set fiscal 2026 EPS guidance at $4.57–$4.72.
• Analysts maintain a mixed outlook, with four Buy, six Hold and three Sell ratings; the consensus rating is Hold with a target price of $72.92. Shares recently opened at $71.11, while a company vice president sold 7,000 shares at an average price of $69.88.

Wedge Capital Management L L P NC grew its stake in Eversource Energy (NYSE:ES - Free Report) by 13.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 352,400 shares of the utilities provider's stock after buying an additional 40,993 shares during the period. Wedge Capital Management L L P NC owned approximately 0.09% of Eversource Energy worth $25,468,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also bought and sold shares of ES. Vanguard Group Inc. increased its holdings in shares of Eversource Energy by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 47,512,198 shares of the utilities provider's stock worth $3,198,996,000 after buying an additional 697,829 shares during the period. State Street Corp grew its position in Eversource Energy by 4.7% during the 4th quarter. State Street Corp now owns 28,013,053 shares of the utilities provider's stock worth $1,886,119,000 after acquiring an additional 1,265,802 shares during the last quarter. Geode Capital Management LLC grew its position in Eversource Energy by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 9,635,907 shares of the utilities provider's stock worth $646,233,000 after acquiring an additional 194,781 shares during the last quarter. Victory Capital Management Inc. increased its stake in Eversource Energy by 61.8% in the 4th quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider's stock worth $642,747,000 after purchasing an additional 3,645,555 shares during the period. Finally, Morgan Stanley lifted its position in Eversource Energy by 4.2% in the fourth quarter. Morgan Stanley now owns 5,879,604 shares of the utilities provider's stock valued at $395,874,000 after purchasing an additional 238,723 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company's stock.

Insider Activity

In related news, VP Gregory B. Butler sold 7,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $69.88, for a total value of $489,160.00. Following the completion of the transaction, 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is owned by corporate insiders.

Eversource Energy Stock Performance

NYSE:ES opened at $71.11 on Wednesday. The stock has a market cap of $26.79 billion, a P/E ratio of 18.42, a price-to-earnings-growth ratio of 5.25 and a beta of 0.70. The firm's fifty day simple moving average is $72.27 and its 200 day simple moving average is $70.87. Eversource Energy has a twelve month low of $61.53 and a twelve month high of $76.57. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.63.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same period in the prior year, the business earned $0.96 EPS. The company's revenue for the quarter was up 2.3% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, research analysts predict that Eversource Energy will post 4.64 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on the company. Capital One Financial set a $73.00 price objective on Eversource Energy in a research note on Wednesday, July 1st. Scotiabank lowered their price target on shares of Eversource Energy from $66.00 to $63.00 and set a "sector underperform" rating for the company in a report on Tuesday, April 21st. BMO Capital Markets dropped their price target on shares of Eversource Energy from $73.00 to $72.00 and set a "market perform" rating for the company in a research report on Wednesday, July 22nd. Wells Fargo & Company raised their price target on shares of Eversource Energy from $75.00 to $76.00 and gave the stock an "overweight" rating in a report on Thursday, July 2nd. Finally, Bank of America restated a "buy" rating and issued a $72.00 price objective on shares of Eversource Energy in a research report on Wednesday, April 22nd. Four research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $72.92.

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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