Wedge Capital Management L L P NC Purchases 40,993 Shares of Eversource Energy $ES

Wedge Capital Management L L P NC raised its position in shares of Eversource Energy (NYSE:ES) by 13.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 352,400 shares of the utilities provider’s stock after purchasing an additional 40,993 shares during the period. Wedge Capital Management L L P NC’s holdings in Eversource Energy were worth $25,468,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of ES. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Eversource Energy by 1.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,831 shares of the utilities provider’s stock worth $999,000 after acquiring an additional 140 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. lifted its stake in shares of Eversource Energy by 1.1% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,287 shares of the utilities provider’s stock valued at $895,000 after buying an additional 142 shares in the last quarter. CX Institutional increased its stake in Eversource Energy by 4.3% in the 2nd quarter. CX Institutional now owns 3,513 shares of the utilities provider’s stock worth $254,000 after buying an additional 144 shares in the last quarter. Northwestern Mutual Investment Management Company LLC raised its holdings in Eversource Energy by 1.4% during the fourth quarter. Northwestern Mutual Investment Management Company LLC now owns 11,988 shares of the utilities provider’s stock valued at $807,000 after acquiring an additional 160 shares during the period. Finally, CIBC Private Wealth Group LLC raised its holdings in Eversource Energy by 1.1% during the fourth quarter. CIBC Private Wealth Group LLC now owns 14,483 shares of the utilities provider’s stock valued at $975,000 after acquiring an additional 162 shares during the period. Institutional investors own 79.99% of the company’s stock.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Argus cut Eversource Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 12th. Capital One Financial set a $73.00 price target on Eversource Energy in a research note on Wednesday, July 1st. Weiss Ratings raised shares of Eversource Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Scotiabank lowered their target price on shares of Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating on the stock in a report on Tuesday, April 21st. Finally, Wells Fargo & Company raised their target price on shares of Eversource Energy from $75.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $72.92.

Eversource Energy Stock Performance

NYSE:ES opened at $71.11 on Wednesday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.80 and a quick ratio of 0.74. Eversource Energy has a 1 year low of $61.53 and a 1 year high of $76.57. The stock’s 50 day simple moving average is $72.27 and its two-hundred day simple moving average is $70.87. The company has a market cap of $26.79 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 5.25 and a beta of 0.70.

Eversource Energy (NYSE:ES) last posted its earnings results on Thursday, July 30th. The utilities provider reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%.The firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.99 billion. During the same period in the prior year, the company earned $0.96 EPS. The company’s quarterly revenue was up 2.3% compared to the same quarter last year. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, equities analysts anticipate that Eversource Energy will post 4.64 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Gregory B. Butler sold 7,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $69.88, for a total transaction of $489,160.00. Following the sale, the vice president directly owned 56,179 shares in the company, valued at approximately $3,925,788.52. This represents a 11.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.18% of the company’s stock.

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.