DNB Asset Management AS Raises Position in Eversource Energy $ES

DNB Asset Management AS lifted its stake in Eversource Energy (NYSE:ES) by 12.8% in the third quarter, Holdings Channel.com reports. The firm owned 155,265 shares of the utilities provider’s stock after buying an additional 17,652 shares during the period. DNB Asset Management AS’s holdings in Eversource Energy were worth $11,046,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of ES. Choreo LLC lifted its position in Eversource Energy by 11.4% in the third quarter. Choreo LLC now owns 6,526 shares of the utilities provider’s stock worth $464,000 after buying an additional 668 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in Eversource Energy by 3.9% during the third quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 817,704 shares of the utilities provider’s stock valued at $58,171,000 after acquiring an additional 30,371 shares during the last quarter. AlphaCore Capital LLC raised its stake in shares of Eversource Energy by 23.4% in the third quarter. AlphaCore Capital LLC now owns 7,606 shares of the utilities provider’s stock valued at $541,000 after acquiring an additional 1,440 shares during the period. Intech Investment Management LLC lifted its holdings in shares of Eversource Energy by 268.0% in the 3rd quarter. Intech Investment Management LLC now owns 69,937 shares of the utilities provider’s stock worth $4,975,000 after acquiring an additional 50,933 shares during the last quarter. Finally, Tableaux LLC bought a new stake in shares of Eversource Energy in the 3rd quarter worth about $1,312,000. Institutional investors own 79.99% of the company’s stock.

Insider Buying and Selling

In other news, insider Cotton M. Cleveland sold 2,581 shares of the firm’s stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $74.87, for a total value of $193,239.47. Following the sale, the insider directly owned 79,364 shares in the company, valued at approximately $5,941,982.68. This trade represents a 3.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider John Y. Kim sold 6,000 shares of Eversource Energy stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $73.57, for a total transaction of $441,420.00. Following the completion of the transaction, the insider directly owned 12,339 shares in the company, valued at approximately $907,780.23. The trade was a 32.72% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 16,381 shares of company stock worth $1,211,079 in the last three months. 0.41% of the stock is owned by insiders.

Eversource Energy Stock Up 1.5%

NYSE:ES opened at $76.19 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.65 and a quick ratio of 0.59. The firm has a market cap of $28.61 billion, a PE ratio of 16.67, a price-to-earnings-growth ratio of 3.29 and a beta of 0.77. The company has a 50-day moving average of $69.75 and a 200 day moving average of $69.04. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $76.41.

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

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Thursday, March 5th will be given a $0.7875 dividend. This represents a $3.15 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend is Thursday, March 5th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.75. Eversource Energy’s dividend payout ratio is presently 65.86%.

Analysts Set New Price Targets

A number of analysts recently weighed in on ES shares. BMO Capital Markets increased their price objective on shares of Eversource Energy from $75.00 to $79.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 17th. Scotiabank cut their price objective on Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a research report on Thursday, November 20th. Wells Fargo & Company upgraded Eversource Energy from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $71.00 to $78.00 in a research report on Tuesday, February 17th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research note on Wednesday, January 28th. Finally, Jefferies Financial Group reiterated an “underperform” rating on shares of Eversource Energy in a report on Monday, November 24th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $73.90.

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.