Nordea Investment Management AB Trims Holdings in Eversource Energy $ES

Nordea Investment Management AB trimmed its holdings in shares of Eversource Energy (NYSE:ES) by 21.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,192,168 shares of the utilities provider’s stock after selling 324,244 shares during the quarter. Nordea Investment Management AB’s holdings in Eversource Energy were worth $80,328,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in ES. Alps Advisors Inc. grew its stake in Eversource Energy by 5.4% in the 3rd quarter. Alps Advisors Inc. now owns 386,853 shares of the utilities provider’s stock worth $27,521,000 after acquiring an additional 19,795 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of Eversource Energy by 31.1% during the second quarter. Advisors Asset Management Inc. now owns 39,391 shares of the utilities provider’s stock worth $2,506,000 after acquiring an additional 9,350 shares during the period. Synergy Asset Management LLC raised its stake in shares of Eversource Energy by 287.7% during the third quarter. Synergy Asset Management LLC now owns 160,322 shares of the utilities provider’s stock valued at $10,783,000 after acquiring an additional 118,971 shares in the last quarter. Global Retirement Partners LLC bought a new stake in shares of Eversource Energy during the second quarter valued at approximately $477,000. Finally, SteelPeak Wealth LLC purchased a new stake in shares of Eversource Energy in the third quarter valued at approximately $868,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP John M. Moreira sold 7,800 shares of the stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $73.90, for a total transaction of $576,420.00. Following the completion of the sale, the executive vice president directly owned 43,269 shares of the company’s stock, valued at approximately $3,197,579.10. This represents a 15.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, 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 transaction of $193,239.47. Following the completion of the sale, the insider owned 79,364 shares in the company, valued at $5,941,982.68. This represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 16,381 shares of company stock valued at $1,211,079 over the last quarter. 0.19% of the stock is owned by corporate insiders.

Eversource Energy Stock Performance

Shares of ES stock opened at $67.62 on Tuesday. The firm has a market cap of $25.39 billion, a price-to-earnings ratio of 14.80, a PEG ratio of 2.89 and a beta of 0.76. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $76.41. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.66. The company’s 50 day moving average is $71.48 and its 200 day moving average is $69.97.

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

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 5th will be given a dividend of $0.7875 per share. The ex-dividend date of this dividend is Thursday, March 5th. This is an increase from Eversource Energy’s previous quarterly dividend of $0.75. This represents a $3.15 dividend on an annualized basis and a yield of 4.7%. Eversource Energy’s dividend payout ratio is 68.93%.

Analysts Set New Price Targets

Several research analysts recently issued reports on ES shares. Wells Fargo & Company raised Eversource Energy from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $71.00 to $78.00 in a research note on Tuesday, February 17th. Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 target price for the company in a report on Monday, November 24th. JPMorgan Chase & Co. increased their price target on Eversource Energy from $72.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, March 12th. Bank of America restated a “buy” rating on shares of Eversource Energy in a research note on Monday, March 2nd. Finally, BMO Capital Markets decreased their price objective on Eversource Energy from $79.00 to $75.00 and set a “market perform” rating for the company in a report on Monday. Three analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average 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.