KLP Kapitalforvaltning AS Decreases Stake in Eversource Energy $ES

KLP Kapitalforvaltning AS reduced its stake in Eversource Energy (NYSE:ES) by 17.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 320,193 shares of the utilities provider’s stock after selling 66,300 shares during the quarter. KLP Kapitalforvaltning AS owned about 0.09% of Eversource Energy worth $21,559,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of ES. AQR Capital Management LLC raised its position in shares of Eversource Energy by 412.7% in the 3rd quarter. AQR Capital Management LLC now owns 1,800,618 shares of the utilities provider’s stock valued at $127,133,000 after purchasing an additional 1,449,388 shares during the last quarter. LSV Asset Management raised its position in shares of Eversource Energy by 331.5% in the 3rd quarter. LSV Asset Management now owns 1,566,577 shares of the utilities provider’s stock valued at $111,446,000 after purchasing an additional 1,203,563 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Eversource Energy by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 46,814,369 shares of the utilities provider’s stock valued at $3,330,374,000 after purchasing an additional 1,161,708 shares during the last quarter. Aventail Capital Group LP raised its position in shares of Eversource Energy by 134.6% in the 3rd quarter. Aventail Capital Group LP now owns 1,366,121 shares of the utilities provider’s stock valued at $97,186,000 after purchasing an additional 783,768 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Eversource Energy by 89.2% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,395,106 shares of the utilities provider’s stock valued at $93,932,000 after purchasing an additional 657,562 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eversource Energy

In other news, insider Cotton M. Cleveland sold 2,581 shares of the firm’s stock in a transaction that occurred on 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 $5,941,982.68. This trade represents a 3.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, EVP John M. Moreira sold 7,800 shares of the firm’s stock in a transaction that occurred on Thursday, February 19th. The stock was sold at an average price of $73.90, for a total transaction of $576,420.00. Following the sale, the executive vice president directly owned 43,269 shares in the company, valued at $3,197,579.10. The trade was a 15.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 16,381 shares of company stock valued at $1,211,079 in the last 90 days. 0.18% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

ES has been the subject of a number of recent research reports. Wells Fargo & Company reduced their price target on shares of Eversource Energy from $78.00 to $74.00 and set an “overweight” rating for the company in a research report on Wednesday, April 1st. 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 report on Thursday, March 12th. Scotiabank reduced their price target on shares of Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating for the company in a research report on Tuesday. Mizuho reduced their price target on shares of Eversource Energy from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Thursday, March 26th. Finally, UBS Group reduced their price target on shares of Eversource Energy from $80.00 to $74.00 and set a “neutral” rating for the company in a research report on Friday, March 27th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $71.80.

Eversource Energy Price Performance

Shares of NYSE ES opened at $66.99 on Thursday. The stock has a market capitalization of $25.18 billion, a price-to-earnings ratio of 14.66, a PEG ratio of 3.65 and a beta of 0.76. Eversource Energy has a 12 month low of $57.35 and a 12 month high of $76.41. The firm’s 50 day simple moving average is $71.23 and its 200-day simple moving average is $70.20. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.65 and a quick ratio of 0.59.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Thursday, February 12th. The utilities provider reported $1.12 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.02. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Eversource Energy had a net margin of 12.49% and a return on equity of 11.18%. The business’s revenue was up 13.4% on a year-over-year basis. During the same quarter last year, the company earned $1.01 EPS. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. Analysts expect that Eversource Energy will post 4.77 EPS for the current year.

Eversource Energy Increases Dividend

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

Eversource Energy Company 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.