Mitsubishi UFJ Asset Management Co. Ltd. Makes New Investment in Eversource Energy $ES

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Eversource Energy (NYSE:ES) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 982,349 shares of the utilities provider’s stock, valued at approximately $70,994,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Empowered Funds LLC boosted its holdings in Eversource Energy by 8.9% in the first quarter. Empowered Funds LLC now owns 16,149 shares of the utilities provider’s stock valued at $1,003,000 after acquiring an additional 1,319 shares during the last quarter. Woodline Partners LP raised its holdings in Eversource Energy by 40.8% during the 1st quarter. Woodline Partners LP now owns 30,988 shares of the utilities provider’s stock worth $1,925,000 after purchasing an additional 8,984 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Eversource Energy by 115.1% during the 1st quarter. Acadian Asset Management LLC now owns 1,497 shares of the utilities provider’s stock worth $92,000 after purchasing an additional 801 shares during the last quarter. Schnieders Capital Management LLC. lifted its position in shares of Eversource Energy by 87.9% in the 2nd quarter. Schnieders Capital Management LLC. now owns 58,444 shares of the utilities provider’s stock worth $3,718,000 after purchasing an additional 27,332 shares during the period. Finally, Brown Advisory Inc. lifted its position in shares of Eversource Energy by 4.6% in the 2nd quarter. Brown Advisory Inc. now owns 7,933 shares of the utilities provider’s stock worth $505,000 after purchasing an additional 349 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insiders Place Their Bets

In other news, VP Gregory B. Butler sold 7,000 shares of the company’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 transaction, the vice president owned 56,179 shares in the company, valued at approximately $3,925,788.52. This represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Argus cut shares of Eversource Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 12th. Weiss Ratings upgraded shares of Eversource Energy from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 10th. Citigroup reaffirmed a “hold” rating and set a $81.00 price target on shares of Eversource Energy in a research report on Monday, July 27th. BMO Capital Markets decreased their price target 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. Finally, Mizuho lifted their price objective on Eversource Energy from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Eversource Energy presently has an average rating of “Hold” and an average target price of $72.92.

Eversource Energy Stock Performance

Shares of ES stock opened at $72.01 on Thursday. The firm has a 50 day moving average of $72.60 and a 200-day moving average of $70.96. The company has a market cap of $27.12 billion, a price-to-earnings ratio of 18.65, a price-to-earnings-growth ratio of 5.33 and a beta of 0.70. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.63. Eversource Energy has a 52 week low of $61.53 and a 52 week high of $76.57.

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

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.