Pictet Asset Management Holding SA Sells 164,084 Shares of Eversource Energy $ES

Pictet Asset Management Holding SA trimmed its position in shares of Eversource Energy (NYSE:ES) by 41.9% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 227,231 shares of the utilities provider’s stock after selling 164,084 shares during the quarter. Pictet Asset Management Holding SA’s holdings in Eversource Energy were worth $15,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of ES. Vanguard Group Inc. boosted its position in Eversource Energy by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 47,512,198 shares of the utilities provider’s stock worth $3,198,996,000 after purchasing an additional 697,829 shares during the last quarter. State Street Corp grew its position in Eversource Energy by 4.7% during the fourth quarter. State Street Corp now owns 28,013,053 shares of the utilities provider’s stock valued at $1,886,119,000 after buying an additional 1,265,802 shares during the period. Geode Capital Management LLC increased its holdings in Eversource Energy by 2.1% during the fourth quarter. Geode Capital Management LLC now owns 9,635,907 shares of the utilities provider’s stock valued at $646,233,000 after buying an additional 194,781 shares during the last quarter. Victory Capital Management Inc. raised its position in Eversource Energy by 61.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider’s stock worth $642,747,000 after acquiring an additional 3,645,555 shares during the period. Finally, Morgan Stanley boosted its stake in shares of Eversource Energy by 4.2% during the 4th quarter. Morgan Stanley now owns 5,879,604 shares of the utilities provider’s stock worth $395,874,000 after acquiring an additional 238,723 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Gregory B. Butler sold 7,000 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $69.88, for a total value of $489,160.00. Following the completion of the transaction, the vice president owned 56,179 shares of the company’s stock, valued at $3,925,788.52. The trade was a 11.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

Analyst Ratings Changes

ES has been the subject of several analyst reports. Mizuho reduced their price objective on Eversource Energy from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. UBS Group reduced their price target on Eversource Energy from $80.00 to $74.00 and set a “neutral” rating for the company in a research report on Friday, March 27th. BMO Capital Markets reaffirmed a “market perform” rating on shares of Eversource Energy in a research note on Wednesday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research report on Monday, April 27th. Finally, JPMorgan Chase & Co. boosted their price objective on Eversource Energy from $72.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, March 12th. Three analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $71.91.

Eversource Energy Stock Up 2.9%

NYSE:ES opened at $74.30 on Friday. 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 has a 1-year low of $61.53 and a 1-year high of $76.41. The company has a 50-day moving average of $69.41 and a 200 day moving average of $69.76. The firm has a market cap of $27.94 billion, a PE ratio of 15.88, a price-to-earnings-growth ratio of 4.78 and a beta of 0.70.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.73 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $4.21 billion. During the same quarter in the previous year, the business posted $1.50 EPS. The company’s quarterly revenue was up 9.4% compared to the same quarter last year. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, research analysts anticipate that Eversource Energy will post 4.65 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, May 18th were paid a $0.7875 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $3.15 dividend on an annualized basis and a yield of 4.2%. Eversource Energy’s payout ratio is 67.31%.

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.