Shell Asset Management Co. Sells 8,033 Shares of Eversource Energy $ES

Shell Asset Management Co. decreased its holdings in shares of Eversource Energy (NYSE:ES) by 35.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,496 shares of the utilities provider’s stock after selling 8,033 shares during the quarter. Shell Asset Management Co.’s holdings in Eversource Energy were worth $1,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. Norges Bank bought a new stake in shares of Eversource Energy during the 2nd quarter valued at $274,744,000. Lazard Asset Management LLC boosted its stake in Eversource Energy by 43,905.7% in the 2nd quarter. Lazard Asset Management LLC now owns 2,692,707 shares of the utilities provider’s stock worth $171,309,000 after purchasing an additional 2,686,588 shares during the period. LSV Asset Management grew its holdings in Eversource Energy by 331.5% during the 3rd quarter. LSV Asset Management now owns 1,566,577 shares of the utilities provider’s stock valued at $111,446,000 after buying an additional 1,203,563 shares in the last quarter. Covalis Capital LLP bought a new stake in shares of Eversource Energy during the second quarter valued at about $71,377,000. Finally, Panagora Asset Management Inc. increased its position in shares of Eversource Energy by 310.1% during the second quarter. Panagora Asset Management Inc. now owns 1,110,122 shares of the utilities provider’s stock valued at $70,626,000 after buying an additional 839,459 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on ES shares. JPMorgan Chase & Co. cut their price objective on shares of Eversource Energy from $72.00 to $71.00 and set an “underweight” rating for the company in a research report on Friday, December 12th. Mizuho reissued a “neutral” rating and issued a $68.00 price target (down from $81.00) on shares of Eversource Energy in a report on Thursday, November 20th. Bank of America upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $73.00 to $85.00 in a research report on Tuesday, October 21st. Wells Fargo & Company downgraded Eversource Energy from an “overweight” rating to an “equal weight” rating and lowered their price objective for the stock from $79.00 to $63.00 in a research report on Wednesday, November 19th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a research report on Wednesday, January 28th. Two analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Reduce” and an average target price of $71.50.

Eversource Energy Price Performance

ES stock opened at $73.37 on Tuesday. The firm has a 50 day simple moving average of $68.58 and a two-hundred day simple moving average of $68.53. The stock has a market cap of $27.53 billion, a PE ratio of 16.05, a P/E/G ratio of 3.16 and a beta of 0.77. Eversource Energy has a one year low of $52.28 and a one year high of $75.25. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Thursday, February 12th. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. Eversource Energy had a net margin of 12.49% and a return on equity of 11.27%. The company had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $2.94 billion. During the same period in the previous year, the firm posted $1.01 EPS. The firm’s revenue was up 13.4% compared to the same quarter last year. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. On average, analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 5th will be issued a $0.7875 dividend. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Thursday, March 5th. This is an increase from Eversource Energy’s previous quarterly dividend of $0.75. Eversource Energy’s dividend payout ratio (DPR) is currently 65.86%.

Eversource Energy Company 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.