Wellington Management Group LLP Reduces Stock Position in Eversource Energy $ES

Wellington Management Group LLP decreased its position in Eversource Energy (NYSE:ES) by 99.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 15,621 shares of the utilities provider’s stock after selling 2,360,116 shares during the period. Wellington Management Group LLP’s holdings in Eversource Energy were worth $1,129,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in ES. Healthcare of Ontario Pension Plan Trust Fund grew its holdings in shares of Eversource Energy by 1.0% during 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 buying an additional 140 shares in the last quarter. CX Institutional raised its position in shares of Eversource Energy by 4.3% in the second quarter. CX Institutional now owns 3,513 shares of the utilities provider’s stock valued at $254,000 after buying an additional 144 shares during the last quarter. Bank & Trust Co lifted its stake in shares of Eversource Energy by 2.0% during the second quarter. Bank & Trust Co now owns 7,459 shares of the utilities provider’s stock valued at $539,000 after buying an additional 149 shares during the period. Northwestern Mutual Investment Management Company LLC lifted its stake in shares of 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 buying an additional 160 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its position 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 worth $975,000 after acquiring an additional 162 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have commented on ES shares. Argus cut shares of Eversource Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 12th. Citigroup reissued a “hold” rating and set a $81.00 price target on shares of Eversource Energy in a research note on Monday, July 27th. Mizuho raised their price objective on Eversource Energy from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Wells Fargo & Company lifted their price objective on Eversource Energy from $75.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. Finally, BMO Capital Markets dropped their target price on Eversource Energy from $73.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, Eversource Energy presently has an average rating of “Hold” and a consensus target price of $72.92.

Eversource Energy Stock Performance

Shares of ES stock opened at $68.59 on Friday. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.80. The firm has a market capitalization of $25.84 billion, a price-to-earnings ratio of 17.77, a price-to-earnings-growth ratio of 2.99 and a beta of 0.69. Eversource Energy has a one year low of $62.89 and a one year high of $76.57. The company has a 50 day moving average price of $72.47 and a 200 day moving average price of $71.00.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.87. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.99 billion. During the same quarter last year, the business earned $0.96 EPS. Eversource Energy’s revenue for the quarter was up 2.3% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Sell-side analysts anticipate that Eversource Energy will post 4.65 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 30th. Investors of record on Monday, September 21st will be issued a $0.7875 dividend. The ex-dividend date is Monday, September 21st. This represents a $3.15 dividend on an annualized basis and a yield of 4.6%. Eversource Energy’s dividend payout ratio (DPR) is presently 81.61%.

About Eversource Energy

Eversource Energy is a public utility holding company that delivers electricity and natural gas to residential, commercial and industrial customers in the northeastern United States. Through its regulated utility subsidiaries, the company operates electric distribution systems, natural gas distribution networks and electric transmission infrastructure.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire. Its operations include maintaining utility infrastructure, connecting customers to energy services, managing power delivery and investing in projects designed to support system reliability and the transition to cleaner energy.

The company traces its history to Northeast Utilities, which adopted the Eversource Energy name in 2015.