The Manufacturers Life Insurance Company Sells 10,681 Shares of Eversource Energy $ES

The Manufacturers Life Insurance Company trimmed its stake in shares of Eversource Energy (NYSE:ES) by 1.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 741,978 shares of the utilities provider’s stock after selling 10,681 shares during the quarter. The Manufacturers Life Insurance Company owned approximately 0.20% of Eversource Energy worth $51,404,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Lodestone Wealth Management LLC bought a new stake in shares of Eversource Energy during the fourth quarter worth $25,000. Activest Wealth Management lifted its stake in shares of Eversource Energy by 2,337.5% in the 4th quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 374 shares during the last quarter. TFC Financial Management Inc. boosted its holdings in shares of Eversource Energy by 2,857.1% during the 4th quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider’s stock valued at $28,000 after acquiring an additional 400 shares in the last quarter. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Eversource Energy during the 4th quarter valued at $28,000. Finally, Key Capital Management INC bought a new stake in Eversource Energy during the 4th quarter worth $29,000. Institutional investors own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the company. BMO Capital Markets lowered their target price on Eversource Energy from $73.00 to $72.00 and set a “market perform” rating for the company in a report on Wednesday, July 22nd. Bank of America reissued a “buy” rating and set a $72.00 price target on shares of Eversource Energy in a research note on Wednesday, April 22nd. Citigroup restated a “hold” rating and set a $81.00 price target on shares of Eversource Energy in a report on Monday. Weiss Ratings upgraded shares of Eversource Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Finally, Scotiabank dropped their price objective on shares of Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating for the company in a report on Tuesday, April 21st. 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.com, the company presently has a consensus rating of “Hold” and an average target price of $72.58.

Insider Buying and Selling

In related news, VP Gregory B. Butler sold 7,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $69.88, for a total value 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 ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

Eversource Energy Stock Down 0.8%

Shares of NYSE:ES opened at $74.80 on Thursday. The firm has a market cap of $28.13 billion, a P/E ratio of 15.98, a P/E/G ratio of 5.56 and a beta of 0.70. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.62. Eversource Energy has a 12-month low of $61.53 and a 12-month high of $76.57. The business has a fifty day simple moving average of $71.71 and a 200 day simple moving average of $70.71.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, May 6th. The utilities provider reported $1.73 EPS for the quarter, topping the consensus estimate of $1.59 by $0.14. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The firm had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period in the previous year, the business earned $1.50 EPS. The business’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. Analysts predict that Eversource Energy will post 4.64 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business 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. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, May 18th. Eversource Energy’s payout ratio is currently 67.31%.

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.