Meiji Yasuda Asset Management Co Ltd. Reduces Holdings in Eversource Energy $ES

Meiji Yasuda Asset Management Co Ltd. lowered its position in shares of Eversource Energy (NYSE:ES) by 3.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 223,722 shares of the utilities provider’s stock after selling 7,746 shares during the period. Eversource Energy makes up about 0.7% of Meiji Yasuda Asset Management Co Ltd.’s investment portfolio, making the stock its 26th largest position. Meiji Yasuda Asset Management Co Ltd.’s holdings in Eversource Energy were worth $15,063,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in ES. Lodestone Wealth Management LLC purchased a new stake in shares of Eversource Energy during the fourth quarter valued at approximately $25,000. Root Financial Partners LLC purchased a new stake in shares of Eversource Energy during the third quarter valued at approximately $26,000. Activest Wealth Management raised its stake in shares of Eversource Energy by 2,337.5% during the fourth quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock valued at $26,000 after purchasing an additional 374 shares during the period. TFC Financial Management Inc. raised its stake in shares of Eversource Energy by 2,857.1% during the fourth quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider’s stock valued at $28,000 after purchasing an additional 400 shares during the period. Finally, Key Capital Management INC purchased a new stake in shares of Eversource Energy during the fourth quarter valued at approximately $29,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Up 0.8%

Shares of NYSE:ES opened at $69.62 on Friday. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The company has a fifty day simple moving average of $69.13 and a 200 day simple moving average of $69.57. The firm has a market cap of $26.18 billion, a PE ratio of 14.88, a price-to-earnings-growth ratio of 4.57 and a beta of 0.74. Eversource Energy has a 12-month low of $61.53 and a 12-month high of $76.41.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.14. The business had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.21 billion. Eversource Energy had a net margin of 12.55% and a return on equity of 11.59%. The business’s revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.50 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, equities research analysts anticipate that Eversource Energy will post 4.65 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, May 18th will be issued a $0.7875 dividend. This represents a $3.15 annualized dividend and a yield of 4.5%. The ex-dividend date of this dividend is Monday, May 18th. Eversource Energy’s payout ratio is currently 67.31%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. JPMorgan Chase & Co. lifted their target price on Eversource Energy from $72.00 to $75.00 and gave the stock an “underweight” rating in a research report on Thursday, March 12th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research report on Monday, April 27th. Bank of America reaffirmed a “buy” rating and set a $72.00 target price on shares of Eversource Energy in a research report on Wednesday, April 22nd. Wells Fargo & Company lifted their target price on Eversource Energy from $74.00 to $75.00 and gave the stock an “overweight” rating in a research report on Friday, May 8th. Finally, Seaport Research Partners lowered Eversource Energy from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $71.70.

Insiders Place Their Bets

In related news, insider Cotton M. Cleveland sold 2,581 shares of the business’s stock in a transaction dated Tuesday, February 24th. The stock was sold at an average price of $74.87, for a total value of $193,239.47. Following the completion of the sale, the insider directly owned 79,364 shares of the company’s stock, valued at $5,941,982.68. The trade was a 3.15% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.18% of the stock is currently owned by corporate insiders.

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.