Mirova US LLC Makes New $3.68 Million Investment in Eversource Energy $ES

Mirova US LLC bought a new position in Eversource Energy (NYSE:ES) during the 2nd quarter, HoldingsChannel.com reports. The fund bought 57,789 shares of the utilities provider’s stock, valued at approximately $3,677,000.

Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its holdings in shares of Eversource Energy by 0.8% during 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 acquiring an additional 351,780 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Eversource Energy by 4.5% during 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 acquiring an additional 739,448 shares during the last quarter. Magellan Asset Management Ltd increased its holdings in shares of 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 valued at $427,090,000 after acquiring an additional 401,866 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Eversource Energy by 0.5% during the 1st quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider’s stock valued at $374,920,000 after acquiring an additional 32,304 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its holdings in shares of Eversource Energy by 3.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,702,415 shares of the utilities provider’s stock valued at $354,177,000 after acquiring an additional 185,146 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $72.84 on Wednesday. The business has a 50 day moving average price of $66.28 and a 200 day moving average price of $63.65. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $73.48. The company has a market cap of $27.03 billion, a price-to-earnings ratio of 31.26, a PEG ratio of 2.73 and a beta of 0.67. 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 (NYSE:ES) last announced its 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 firm had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the company earned $0.95 EPS. The firm’s revenue for the quarter 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. Research analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a dividend of $0.7525 per share. The ex-dividend date was Monday, September 22nd. This represents a $3.01 annualized dividend and a yield of 4.1%. Eversource Energy’s dividend payout ratio is presently 129.18%.

Insiders Place Their Bets

In other news, insider Loretta D. Keane acquired 3,780 shares of Eversource Energy stock in a transaction on Friday, August 22nd. The stock was bought at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the transaction, the insider owned 12,033 shares of the company’s stock, valued at $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

ES has been the topic of a number of analyst reports. Bank of America increased their price objective on Eversource Energy from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Mizuho increased their price objective on Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, June 25th. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Eversource Energy in a report on Saturday, September 27th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price 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.