Meiji Yasuda Asset Management Co Ltd. Trims Position in Eversource Energy $ES

Meiji Yasuda Asset Management Co Ltd. lessened its holdings in shares of Eversource Energy (NYSE:ES) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 223,722 shares of the utilities provider’s stock after selling 7,746 shares during the quarter. Eversource Energy makes up about 0.7% of Meiji Yasuda Asset Management Co Ltd.’s investment portfolio, making the stock its 26th biggest position. Meiji Yasuda Asset Management Co Ltd. owned 0.06% of Eversource Energy worth $15,063,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. lifted its stake in shares of Eversource Energy by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 47,512,198 shares of the utilities provider’s stock worth $3,198,996,000 after purchasing an additional 697,829 shares during the period. Magellan Asset Management Ltd lifted its holdings in shares of Eversource Energy by 6.5% during the 3rd quarter. Magellan Asset Management Ltd now owns 7,406,785 shares of the utilities provider’s stock worth $526,919,000 after acquiring an additional 454,658 shares during the period. Victory Capital Management Inc. lifted its holdings in shares of Eversource Energy by 9.4% during the 3rd quarter. Victory Capital Management Inc. now owns 5,900,662 shares of the utilities provider’s stock worth $419,773,000 after acquiring an additional 505,489 shares during the period. Legal & General Group Plc lifted its holdings in shares of Eversource Energy by 1.3% during the 3rd quarter. Legal & General Group Plc now owns 5,088,500 shares of the utilities provider’s stock worth $361,996,000 after acquiring an additional 63,466 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Eversource Energy by 23,707.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 4,649,747 shares of the utilities provider’s stock worth $313,067,000 after acquiring an additional 4,630,216 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Up 0.8%

Shares of ES opened at $69.62 on Friday. Eversource Energy has a twelve month low of $61.53 and a twelve month high of $76.41. The stock’s fifty day simple moving average is $69.13 and its 200 day simple moving average is $69.57. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The firm has a market capitalization of $26.18 billion, a P/E ratio of 14.88, a price-to-earnings-growth ratio of 4.57 and a beta of 0.74.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.73 EPS for the quarter, beating the consensus estimate of $1.59 by $0.14. Eversource Energy had a net margin of 12.55% and a return on equity of 11.59%. The firm had revenue of $4.50 billion for the quarter, compared to analyst estimates of $4.21 billion. During the same quarter last year, the firm posted $1.50 earnings per share. Eversource Energy’s revenue for the quarter was up 9.4% compared to the same quarter last year. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, equities research analysts forecast that Eversource Energy will post 4.65 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, May 18th will be issued a $0.7875 dividend. The ex-dividend date is Monday, May 18th. This represents a $3.15 annualized dividend and a yield of 4.5%. Eversource Energy’s dividend payout ratio (DPR) is presently 67.31%.

Insider Buying and Selling

In related news, insider Cotton M. Cleveland sold 2,581 shares of the firm’s stock in a transaction that occurred on Tuesday, February 24th. The shares were sold at an average price of $74.87, for a total value of $193,239.47. Following the transaction, the insider owned 79,364 shares in the company, valued at approximately $5,941,982.68. This trade represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.18% of the company’s stock.

Wall Street Analyst Weigh In

ES has been the topic of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Eversource Energy from $72.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, March 12th. UBS Group cut their price objective on shares of Eversource Energy from $80.00 to $74.00 and set a “neutral” rating on the stock in a report on Friday, March 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a report on Monday, April 27th. Argus upgraded shares of Eversource Energy to a “strong-buy” rating in a report on Tuesday, March 24th. Finally, BMO Capital Markets cut their target price on Eversource Energy from $75.00 to $73.00 and set a “market perform” rating on the stock in a research report on Monday, May 11th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $71.70.

About Eversource Energy

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.