Daiichi Life Insurance Co. Ltd. Invests $845,000 in Eversource Energy $ES

Daiichi Life Insurance Co. Ltd. bought a new stake in Eversource Energy (NYSE:ES) in the second quarter, HoldingsChannel reports. The fund bought 11,689 shares of the utilities provider’s stock, valued at approximately $845,000.

Other hedge funds have also modified their holdings of the company. Commerce Bank acquired a new position in Eversource Energy during the 2nd quarter worth approximately $4,252,000. Northwestern Mutual Wealth Management Co. acquired a new stake in Eversource Energy in the second quarter valued at approximately $1,963,000. Cadence Wealth Management LLC acquired a new stake in Eversource Energy in the second quarter valued at approximately $286,000. Evolve Private Wealth LLC purchased a new stake in shares of Eversource Energy during the second quarter valued at approximately $1,379,000. Finally, Westpac Banking Corp purchased a new stake in shares of Eversource Energy during the second quarter valued at approximately $5,679,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research firms have recently commented on ES. Mizuho boosted their target price on shares of Eversource Energy from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Capital One Financial set a $73.00 price target on shares of Eversource Energy in a report on Wednesday, July 1st. Citigroup reaffirmed a “hold” rating and set a $81.00 price target on shares of Eversource Energy in a research note on Monday, July 27th. Wells Fargo & Company boosted their price objective on shares of Eversource Energy from $75.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Finally, Argus cut shares of Eversource Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 12th. Four research 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. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $72.92.

Eversource Energy Stock Up 1.5%

NYSE:ES opened at $71.24 on Tuesday. The company has a market capitalization of $26.84 billion, a price-to-earnings ratio of 18.46, a price-to-earnings-growth ratio of 5.18 and a beta of 0.70. Eversource Energy has a one year low of $61.53 and a one year high of $76.57. The stock has a 50-day simple moving average of $72.75 and a 200 day simple moving average of $71.02. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.80.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, July 30th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.87. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%.The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the prior year, the firm posted $0.96 earnings per share. Eversource Energy’s revenue for the quarter was up 2.3% compared to the same quarter last year. 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.

Insider Buying and Selling at Eversource Energy

In other 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 directly owned 56,179 shares in the company, valued at approximately $3,925,788.52. The trade was a 11.08% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.18% of the company’s stock.

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.