Wellington Management Group LLP Purchases 739,448 Shares of Eversource Energy $ES

Key Points

• Wellington Management Group increased its stake in Eversource Energy by 4.5%, now holding approximately 17.2 million shares valued at over $1 billion.
• Eversource Energy reported a quarterly earnings per share (EPS) of $0.96, surpassing analysts' expectations of $0.95, despite revenue falling short of predictions at $2.84 billion.
• Institutional investors currently own a substantial 79.99% of Eversource Energy, indicating strong confidence in the company's performance.

Wellington Management Group LLP increased its position in Eversource Energy (NYSE:ES - Free Report) by 4.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,209,804 shares of the utilities provider's stock after buying an additional 739,448 shares during the quarter. Wellington Management Group LLP owned 4.68% of Eversource Energy worth $1,068,901,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of ES. Pinney & Scofield Inc. bought a new stake in Eversource Energy in the 4th quarter worth approximately $33,000. Rossby Financial LCC bought a new stake in Eversource Energy in the 1st quarter worth approximately $34,000. CoreCap Advisors LLC lifted its position in Eversource Energy by 168.7% in 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 during the last quarter. First Financial Corp IN lifted its position in Eversource Energy by 3,529.4% in the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock worth $38,000 after buying an additional 600 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in Eversource Energy in the 1st quarter worth approximately $46,000. Institutional investors own 79.99% of the company's stock.

Eversource Energy Trading Up 1.6%

Shares of ES traded up $1.0750 during mid-day trading on Friday, hitting $66.4950. 1,526,442 shares of the company's stock traded hands, compared to its average volume of 2,022,393. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The firm has a market capitalization of $24.68 billion, a P/E ratio of 28.54, a PEG ratio of 2.46 and a beta of 0.61. The business's 50-day moving average price is $65.00 and its 200-day moving average price is $62.46.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results 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 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 analyst estimates of $3.01 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The firm's revenue was up 12.0% on a year-over-year basis. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. As a group, sell-side analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Analyst Ratings Changes

ES has been the subject of a number of recent research reports. Wall Street Zen upgraded Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Bank of America lifted their price target on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. BMO Capital Markets lifted their price target on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research note on Monday, April 28th. Finally, Mizuho lifted their price target on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Three research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, Eversource Energy presently has an average rating of "Hold" and a consensus price target 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.