Patriot Financial Group Insurance Agency LLC Grows Stock Holdings in Eversource Energy $ES

Patriot Financial Group Insurance Agency LLC boosted its stake in shares of Eversource Energy (NYSE:ES) by 248.1% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 34,322 shares of the utilities provider’s stock after purchasing an additional 24,462 shares during the period. Patriot Financial Group Insurance Agency LLC’s holdings in Eversource Energy were worth $2,378,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new stake in Eversource Energy during the fourth quarter valued at $324,032,000. Northwestern Mutual Wealth Management Co. raised its holdings in shares of Eversource Energy by 23,707.0% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,649,747 shares of the utilities provider’s stock valued at $313,067,000 after acquiring an additional 4,630,216 shares during the last quarter. Victory Capital Management Inc. boosted its stake in Eversource Energy by 61.8% during the 4th quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider’s stock worth $642,747,000 after purchasing an additional 3,645,555 shares during the last quarter. Deutsche Bank AG boosted its position in Eversource Energy by 78.1% during the fourth quarter. Deutsche Bank AG now owns 5,341,986 shares of the utilities provider’s stock worth $359,676,000 after acquiring an additional 2,341,912 shares during the last quarter. Finally, Cohen & Steers Inc. purchased a new position in Eversource Energy in the 4th quarter worth approximately $104,848,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insiders Place Their Bets

In other Eversource Energy news, VP Gregory B. Butler sold 7,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $69.88, for a total transaction of $489,160.00. Following the sale, the vice president directly owned 56,179 shares in the company, valued at $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 is available through this link. 0.18% of the stock is currently owned by insiders.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $73.33 on Monday. The stock has a market capitalization of $27.58 billion, a price-to-earnings ratio of 15.67, a price-to-earnings-growth ratio of 4.86 and a beta of 0.72. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.65 and a quick ratio of 0.59. The business has a 50-day moving average of $69.03 and a 200 day moving average of $69.61. 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 company had revenue of $4.50 billion for 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 for the quarter was up 9.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.50 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, sell-side analysts forecast that Eversource Energy will post 4.65 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Investors of record on Monday, May 18th will be paid a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 4.3%. The ex-dividend date of this dividend is Monday, May 18th. Eversource Energy’s dividend payout ratio is presently 67.31%.

Wall Street Analyst Weigh In

ES has been the subject of several analyst reports. Bank of America restated a “buy” rating and issued a $72.00 target price on shares of Eversource Energy in a report on Wednesday, April 22nd. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a research report on Monday, April 27th. Scotiabank cut their target price on Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating for the company in a research note on Tuesday, April 21st. Seaport Research Partners lowered Eversource Energy from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Finally, 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 report on Thursday, March 12th. Three research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $71.70.

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.