Bank of Nova Scotia Sells 257,869 Shares of Eversource Energy $ES

Bank of Nova Scotia decreased its stake in shares of Eversource Energy (NYSE:ES) by 73.0% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 95,561 shares of the utilities provider’s stock after selling 257,869 shares during the quarter. Bank of Nova Scotia’s holdings in Eversource Energy were worth $6,620,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently made changes to their positions in ES. Lodestone Wealth Management LLC bought a new position in shares of Eversource Energy in the fourth quarter valued at $25,000. Activest Wealth Management grew its position 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 period. TFC Financial Management Inc. grew its position in shares of Eversource Energy by 2,857.1% in 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 during the period. Garton & Associates Financial Advisors LLC acquired a new position in shares of Eversource Energy during the 4th quarter worth about $28,000. Finally, Godfrey Financial Associates Inc. acquired a new position in shares of Eversource Energy during the 4th quarter worth about $29,000. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

Shares of ES opened at $74.67 on Tuesday. The company’s 50-day moving average is $71.47 and its 200-day moving average is $70.59. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.65 and a quick ratio of 0.59. The firm has a market capitalization of $28.08 billion, a PE ratio of 15.96, a PEG ratio of 4.95 and a beta of 0.70. Eversource Energy has a fifty-two week low of $61.53 and a fifty-two week high of $76.41.

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 net margin of 12.55% and a return on equity of 11.59%. The business had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.21 billion. During the same quarter in the previous year, the firm posted $1.50 EPS. Eversource Energy’s 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. Equities analysts forecast that Eversource Energy will post 4.66 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, May 18th were issued a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Monday, May 18th. Eversource Energy’s dividend payout ratio (DPR) is presently 67.31%.

Insider Buying and Selling at Eversource Energy

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 value of $489,160.00. Following the completion of the sale, the vice president owned 56,179 shares of the company’s stock, valued at approximately $3,925,788.52. The trade was a 11.08% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.18% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ES. Weiss Ratings upgraded shares of Eversource Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. Bank of America reissued a “buy” rating and set a $72.00 price target on shares of Eversource Energy in a research report on Wednesday, April 22nd. BMO Capital Markets dropped their price objective on Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a research note on Wednesday, July 22nd. Argus cut Eversource Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 12th. Finally, Wells Fargo & Company lifted their target price on Eversource Energy from $75.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, July 2nd. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $72.58.

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.