Connor Clark & Lunn Investment Management Ltd. Buys Shares of 61,346 Eversource Energy $ES

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Eversource Energy (NYSE:ES) in the second quarter, HoldingsChannel reports. The institutional investor bought 61,346 shares of the utilities provider’s stock, valued at approximately $4,433,000.

Several other institutional investors also recently made changes to their positions in ES. Elevation Wealth Partners LLC increased its holdings in shares of Eversource Energy by 220.2% in the 2nd quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 240 shares in the last quarter. Activest Wealth Management boosted its holdings in Eversource Energy by 2,337.5% during the fourth quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock worth $26,000 after buying an additional 374 shares in the last quarter. Edmond DE Rothschild Holding S.A. acquired a new position in Eversource Energy during the second quarter worth about $26,000. Garton & Associates Financial Advisors LLC acquired a new position in Eversource Energy during the fourth quarter worth about $28,000. Finally, Godfrey Financial Associates Inc. purchased a new position in Eversource Energy in the fourth quarter valued at about $29,000. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Performance

Shares of ES opened at $70.86 on Friday. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The stock has a market cap of $26.69 billion, a P/E ratio of 18.36, a PEG ratio of 5.29 and a beta of 0.70. The company has a 50-day moving average of $72.86 and a two-hundred day moving average of $71.09. Eversource Energy has a 12-month low of $62.45 and a 12-month high of $76.57.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. The business had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.99 billion. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The company’s quarterly revenue was up 2.3% on a year-over-year basis. During the same period in the prior year, the business earned $0.96 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, research analysts predict that Eversource Energy will post 4.64 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ES has been the subject of a number of research reports. Mizuho lifted their price target on shares of Eversource Energy from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Capital One Financial set a $73.00 price target on Eversource Energy in a report on Wednesday, July 1st. BMO Capital Markets dropped their price objective on Eversource Energy from $73.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Citigroup reiterated a “hold” rating and set a $81.00 target price on shares of Eversource Energy in a research report on Monday, July 27th. Finally, Argus lowered Eversource Energy from a “buy” rating to a “hold” rating in a report on Friday, June 12th. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $72.92.

Insider Activity

In related news, VP Gregory B. Butler sold 7,000 shares of the company’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 sale, the vice president owned 56,179 shares of the company’s stock, valued at approximately $3,925,788.52. This represents a 11.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.18% of the stock is owned by corporate insiders.

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.