Bank of America Corp DE Has $109.67 Million Stake in Eversource Energy $ES

Bank of America Corp DE reduced its stake in shares of Eversource Energy (NYSE:ES) by 2.6% in the first quarter, according to its most recent filing with the SEC. The institutional investor owned 1,583,041 shares of the utilities provider’s stock after selling 42,257 shares during the period. Bank of America Corp DE’s holdings in Eversource Energy were worth $109,673,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Vanguard Group Inc. grew its position 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 valued at $3,198,996,000 after acquiring an additional 697,829 shares during the period. State Street Corp lifted its position in shares of Eversource Energy by 4.7% during the 4th quarter. State Street Corp now owns 28,013,053 shares of the utilities provider’s stock valued at $1,886,119,000 after buying an additional 1,265,802 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of Eversource Energy by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 9,635,907 shares of the utilities provider’s stock worth $646,233,000 after acquiring an additional 194,781 shares during the period. Victory Capital Management Inc. grew its stake in shares of Eversource Energy by 61.8% during the 4th quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider’s stock worth $642,747,000 after acquiring an additional 3,645,555 shares during the period. Finally, Morgan Stanley increased its holdings in Eversource Energy by 4.2% in the 4th quarter. Morgan Stanley now owns 5,879,604 shares of the utilities provider’s stock worth $395,874,000 after acquiring an additional 238,723 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Eversource Energy news, VP Gregory B. Butler sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $69.88, for a total value of $489,160.00. Following the completion of the sale, the vice president owned 56,179 shares in the company, valued at approximately $3,925,788.52. The trade was a 11.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ES shares. Seaport Research Partners downgraded shares of Eversource Energy from a “buy” rating to a “neutral” rating in a report on Monday, April 20th. Citigroup restated a “hold” rating and set a $81.00 price target on shares of Eversource Energy in a research note on Monday, July 27th. BMO Capital Markets cut their price objective on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. Wells Fargo & Company lifted their price objective 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. Finally, Mizuho raised their target price on Eversource Energy from $70.00 to $74.00 and gave the stock a “neutral” rating in a research note on Monday, August 3rd. Four equities research 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. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $72.92.

Eversource Energy Stock Up 0.5%

ES stock opened at $72.42 on Friday. The company’s 50 day moving average is $72.13 and its 200 day moving average is $70.86. The stock has a market cap of $27.28 billion, a price-to-earnings ratio of 18.76, a price-to-earnings-growth ratio of 5.31 and a beta of 0.70. The company has a current ratio of 0.80, a quick ratio of 0.59 and a debt-to-equity ratio of 1.63. Eversource Energy has a 1-year low of $61.53 and a 1-year high of $76.57.

Eversource Energy (NYSE:ES) last released 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 return on equity of 11.33% and a net margin of 10.35%.The business had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.99 billion. During the same quarter last year, the business posted $0.96 earnings per share. The company’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 predict that Eversource Energy will post 4.64 EPS for the current fiscal year.

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.