Mystic Asset Management Inc. Takes Position in Eversource Energy $ES

Mystic Asset Management Inc. bought a new position in shares of Eversource Energy (NYSE:ES) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 20,489 shares of the utilities provider’s stock, valued at approximately $1,481,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new stake in Eversource Energy during the 2nd quarter worth approximately $3,086,413,000. Norges Bank purchased a new position in shares of Eversource Energy during the fourth quarter worth about $324,032,000. Northwestern Mutual Wealth Management Co. increased its position in 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 worth $313,067,000 after buying an additional 4,630,216 shares during the period. Deutsche Bank AG purchased a new stake in Eversource Energy in the 2nd quarter valued at $311,548,000. Finally, Victory Capital Management Inc. increased its position in Eversource Energy by 61.8% in the 4th quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider’s stock valued at $642,747,000 after acquiring an additional 3,645,555 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Activity at Eversource Energy

In other news, VP Gregory B. Butler sold 7,000 shares of Eversource Energy stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $69.88, for a total value of $489,160.00. Following the transaction, the vice president directly owned 56,179 shares of the company’s stock, valued at $3,925,788.52. The trade was a 11.08% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. 0.18% of the stock is currently owned by company insiders.

Eversource Energy Price Performance

ES stock opened at $72.13 on Friday. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.63. The stock has a market capitalization of $27.17 billion, a price-to-earnings ratio of 18.69, a price-to-earnings-growth ratio of 5.31 and a beta of 0.70. The stock’s fifty day simple moving average is $72.68 and its 200-day simple moving average is $70.98. Eversource Energy has a 52-week low of $61.53 and a 52-week high of $76.57.

Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, July 30th. The utilities provider reported $0.87 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.87. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%.The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter last year, the firm earned $0.96 earnings per share. The firm’s revenue for the quarter was up 2.3% compared to the same quarter last year. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Equities research analysts expect that Eversource Energy will post 4.64 EPS for the current year.

Analyst Ratings Changes

ES has been the topic of a number of recent analyst reports. Citigroup reiterated a “hold” rating and set a $81.00 price target on shares of Eversource Energy in a research note on Monday, July 27th. Capital One Financial set a $73.00 target price on Eversource Energy in a research note on Wednesday, July 1st. Argus downgraded Eversource Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 12th. Wells Fargo & Company boosted their price objective on shares of Eversource Energy from $75.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Finally, Mizuho raised their price objective on Eversource Energy from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Four analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and an average target price of $72.92.

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.