DNB Asset Management AS Acquires 17,652 Shares of Eversource Energy $ES

DNB Asset Management AS increased its stake in Eversource Energy (NYSE:ES) by 12.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 155,265 shares of the utilities provider’s stock after purchasing an additional 17,652 shares during the quarter. DNB Asset Management AS’s holdings in Eversource Energy were worth $11,046,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Norges Bank purchased a new stake in Eversource Energy in the second quarter worth about $274,744,000. Lazard Asset Management LLC grew its stake in shares of Eversource Energy by 43,905.7% during the 2nd quarter. Lazard Asset Management LLC now owns 2,692,707 shares of the utilities provider’s stock valued at $171,309,000 after acquiring an additional 2,686,588 shares during the period. LSV Asset Management increased its holdings in Eversource Energy by 331.5% in the 3rd quarter. LSV Asset Management now owns 1,566,577 shares of the utilities provider’s stock worth $111,446,000 after acquiring an additional 1,203,563 shares in the last quarter. Vanguard Group Inc. increased its holdings in Eversource Energy by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 46,814,369 shares of the utilities provider’s stock worth $3,330,374,000 after acquiring an additional 1,161,708 shares in the last quarter. Finally, Covalis Capital LLP bought a new stake in Eversource Energy during the 2nd quarter worth approximately $71,377,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Up 1.5%

Shares of ES stock opened at $76.19 on Friday. The company’s fifty day simple moving average is $69.75 and its two-hundred day simple moving average is $69.04. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $76.41. The stock has a market cap of $28.61 billion, a P/E ratio of 16.67, a PEG ratio of 3.29 and a beta of 0.77. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.66.

Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, February 12th. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.02. The firm had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Eversource Energy had a return on equity of 11.18% and a net margin of 12.49%.The business’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. Analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 5th will be given a dividend of $0.7875 per share. The ex-dividend date is Thursday, March 5th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.1%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.75. Eversource Energy’s dividend payout ratio is currently 65.86%.

Insider Activity

In related news, insider John Y. Kim sold 6,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The shares were sold at an average price of $73.57, for a total value of $441,420.00. Following the completion of the transaction, the insider directly owned 12,339 shares of the company’s stock, valued at approximately $907,780.23. This trade represents a 32.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP John M. Moreira sold 7,800 shares of the business’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $73.90, for a total transaction of $576,420.00. Following the completion of the sale, the executive vice president owned 43,269 shares in the company, valued at $3,197,579.10. This represents a 15.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 16,381 shares of company stock worth $1,211,079. 0.41% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Mizuho upped their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 17th. Scotiabank cut their price target on Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating for the company in a research note on Thursday, November 20th. BMO Capital Markets raised their price target on Eversource Energy from $75.00 to $79.00 and gave the company a “market perform” rating in a report on Tuesday, February 17th. Jefferies Financial Group reaffirmed an “underperform” rating on shares of Eversource Energy in a research note on Monday, November 24th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a research report on Wednesday, January 28th. Three research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $73.90.

Eversource Energy 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.