The Manufacturers Life Insurance Company Buys Shares of 736,012 Eversource Energy $ES

The Manufacturers Life Insurance Company bought a new stake in Eversource Energy (NYSE:ES) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 736,012 shares of the utilities provider’s stock, valued at approximately $53,192,000.

A number of other institutional investors have also recently made changes to their positions in ES. BlackRock Inc. purchased a new stake in shares of Eversource Energy during the second quarter worth approximately $3,086,413,000. Norges Bank acquired a new stake in Eversource Energy during the 4th quarter worth $324,032,000. Northwestern Mutual Wealth Management Co. grew its holdings in shares of 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 in the last quarter. Deutsche Bank AG purchased a new stake in shares of Eversource Energy during the second quarter worth $311,548,000. Finally, Victory Capital Management Inc. raised its position in shares of 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 valued at $642,747,000 after buying an additional 3,645,555 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ES shares. Argus downgraded shares of Eversource Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 12th. Mizuho upped their price objective on shares of Eversource Energy from $70.00 to $74.00 and gave the company a “neutral” rating in a research note on Monday, August 3rd. Wells Fargo & Company increased their price objective on shares of Eversource Energy from $75.00 to $76.00 and gave the company an “overweight” rating in a report on Thursday, July 2nd. Citigroup reissued a “hold” rating and issued a $81.00 target price on shares of Eversource Energy in a research note on Monday, July 27th. Finally, BMO Capital Markets lowered their target price on Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a report on Wednesday, July 22nd. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and a consensus target price of $72.92.

Eversource Energy Stock Up 1.1%

Shares of ES opened at $71.78 on Thursday. Eversource Energy has a 52-week low of $62.45 and a 52-week high of $76.57. The company has a market capitalization of $27.04 billion, a PE ratio of 18.60, a price-to-earnings-growth ratio of 5.24 and a beta of 0.70. The stock has a fifty day simple moving average of $72.83 and a two-hundred day simple moving average of $71.06. 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 (NYSE:ES) last announced its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.87 earnings per share for the quarter, meeting the consensus estimate of $0.87. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The firm had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the previous year, the company posted $0.96 EPS. The company’s revenue 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. As a group, equities analysts forecast that Eversource Energy will post 4.64 EPS for the current year.

Insider Buying and Selling

In other Eversource Energy news, VP Gregory B. Butler sold 7,000 shares of Eversource Energy 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.18% of the stock is owned by company insiders.

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.