Legal & General Group Plc Makes New $359.21 Million Investment in Eversource Energy $ES

Legal & General Group Plc acquired a new stake in shares of Eversource Energy (NYSE:ES) in the second quarter, Holdings Channel.com reports. The firm acquired 4,970,456 shares of the utilities provider’s stock, valued at approximately $359,215,000.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Elevation Wealth Partners LLC lifted its holdings in Eversource Energy by 220.2% in the second quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 240 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Eversource Energy during the 2nd quarter worth approximately $26,000. Activest Wealth Management grew its stake in shares of Eversource Energy by 2,337.5% during the 4th quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 374 shares during the period. Garton & Associates Financial Advisors LLC purchased a new position in shares of Eversource Energy during the 4th quarter valued at approximately $28,000. Finally, Godfrey Financial Associates Inc. purchased a new position in shares of Eversource Energy during the 4th quarter valued at approximately $29,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Trading Down 0.3%

Shares of NYSE:ES opened at $71.07 on Wednesday. Eversource Energy has a 1 year low of $62.45 and a 1 year high of $76.57. The firm has a market capitalization of $26.77 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 5.25 and a beta of 0.70. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.80 and a quick ratio of 0.74. The business’s 50 day moving average price is $72.77 and its 200-day moving average price is $71.04.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.87 EPS for the quarter, hitting the consensus estimate of $0.87. The company had revenue of $2.90 billion during 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 firm’s revenue was up 2.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.96 EPS. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, equities research analysts forecast that Eversource Energy will post 4.64 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Gregory B. Butler sold 7,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $69.88, for a total transaction of $489,160.00. Following the completion of the sale, 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.18% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Weiss Ratings raised shares of Eversource Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Argus cut shares of Eversource Energy from a “buy” rating to a “hold” rating in a report on Friday, June 12th. Capital One Financial set a $73.00 price objective on shares of Eversource Energy in a research report on Wednesday, July 1st. Mizuho raised their target price on Eversource Energy from $70.00 to $74.00 and gave the company a “neutral” rating in a research report on Monday, August 3rd. Finally, Wells Fargo & Company lifted their price target on Eversource Energy from $75.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Four analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target 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.