VIRGINIA RETIREMENT SYSTEMS ET Al Invests $1.16 Million in Eversource Energy $ES

VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of Eversource Energy (NYSE:ES) during the fourth quarter, Holdings Channel.com reports. The fund purchased 17,200 shares of the utilities provider’s stock, valued at approximately $1,158,000.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Tokio Marine Asset Management Co. Ltd. lifted its holdings in Eversource Energy by 1.1% during the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,287 shares of the utilities provider’s stock valued at $895,000 after purchasing an additional 142 shares in the last quarter. Mystic Asset Management Inc. lifted its holdings in Eversource Energy by 0.9% during the third quarter. Mystic Asset Management Inc. now owns 16,549 shares of the utilities provider’s stock valued at $1,177,000 after purchasing an additional 150 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Eversource Energy by 4.9% during the third quarter. Parallel Advisors LLC now owns 3,636 shares of the utilities provider’s stock valued at $259,000 after purchasing an additional 169 shares in the last quarter. Exencial Wealth Advisors LLC lifted its holdings in Eversource Energy by 5.7% during the fourth quarter. Exencial Wealth Advisors LLC now owns 3,458 shares of the utilities provider’s stock valued at $233,000 after purchasing an additional 185 shares in the last quarter. Finally, Fifth Third Bancorp lifted its stake in shares of Eversource Energy by 0.8% in the third quarter. Fifth Third Bancorp now owns 23,704 shares of the utilities provider’s stock worth $1,686,000 after buying an additional 186 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, EVP John M. Moreira sold 7,800 shares of Eversource Energy 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 in the company, valued at $3,197,579.10. This trade represents a 15.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Cotton M. Cleveland sold 2,581 shares of Eversource Energy 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 sale, the insider owned 79,364 shares of the company’s stock, valued at approximately $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 sold a total of 16,381 shares of company stock worth $1,211,079 over the last three months. Insiders own 0.18% of the company’s stock.

Wall Street Analysts Forecast Growth

ES has been the topic of several research reports. Bank of America reissued a “buy” rating and issued a $72.00 price target on shares of Eversource Energy in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. raised their price target on shares of Eversource Energy from $72.00 to $75.00 and gave the stock an “underweight” rating in a research note on Thursday, March 12th. Wells Fargo & Company raised their price target on shares of Eversource Energy from $74.00 to $75.00 and gave the stock an “overweight” rating in a research note on Friday, May 8th. Argus raised shares of Eversource Energy to a “strong-buy” rating in a research note on Tuesday, March 24th. Finally, Seaport Research Partners downgraded shares of Eversource Energy from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and a consensus price target of $71.70.

Eversource Energy Price Performance

Shares of ES opened at $67.26 on Friday. Eversource Energy has a 1-year low of $61.53 and a 1-year high of $76.41. The stock has a market cap of $25.29 billion, a PE ratio of 14.37, a P/E/G ratio of 4.45 and a beta of 0.74. The firm has a 50-day simple moving average of $69.54 and a two-hundred day simple moving average of $69.75. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.65 and a quick ratio of 0.59.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share for the quarter, beating analysts’ consensus estimates of $1.59 by $0.14. Eversource Energy had a net margin of 12.55% and a return on equity of 11.59%. The business had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the business earned $1.50 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, analysts forecast that Eversource Energy will post 4.65 EPS for the current year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, May 18th will be given a dividend of $0.7875 per share. The ex-dividend date is Monday, May 18th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.7%. Eversource Energy’s dividend payout ratio (DPR) is currently 67.31%.

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.