Bridgefront Capital LLC Takes Position in Eversource Energy $ES

Bridgefront Capital LLC purchased a new stake in Eversource Energy (NYSE:ES) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 10,221 shares of the utilities provider’s stock, valued at approximately $727,000.

A number of other institutional investors have also recently bought and sold shares of ES. Norges Bank purchased a new stake in Eversource Energy during the second quarter valued at about $274,744,000. Lazard Asset Management LLC increased its position in shares of Eversource Energy by 43,905.7% in the second quarter. Lazard Asset Management LLC now owns 2,692,707 shares of the utilities provider’s stock worth $171,309,000 after acquiring an additional 2,686,588 shares in the last quarter. AQR Capital Management LLC raised its holdings in shares of Eversource Energy by 412.7% during the third quarter. AQR Capital Management LLC now owns 1,800,618 shares of the utilities provider’s stock valued at $127,133,000 after acquiring an additional 1,449,388 shares during the period. LSV Asset Management lifted its position in shares of Eversource Energy by 331.5% in the 3rd quarter. LSV Asset Management now owns 1,566,577 shares of the utilities provider’s stock valued at $111,446,000 after acquiring an additional 1,203,563 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Eversource Energy by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 46,814,369 shares of the utilities provider’s stock valued at $3,330,374,000 after acquiring an additional 1,161,708 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Activity at Eversource Energy

In other news, insider John Y. Kim sold 6,000 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $73.57, for a total transaction of $441,420.00. Following the completion of the sale, the insider directly owned 12,339 shares of the company’s stock, valued at $907,780.23. This trade represents a 32.72% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Cotton M. Cleveland sold 2,581 shares of Eversource Energy stock in a transaction dated Tuesday, February 24th. The shares were sold at an average price of $74.87, for a total value of $193,239.47. Following the sale, the insider owned 79,364 shares of the company’s stock, valued at approximately $5,941,982.68. This represents a 3.15% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 16,381 shares of company stock valued at $1,211,079. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ES. UBS Group lowered their price objective on shares of Eversource Energy from $78.00 to $73.00 and set a “neutral” rating on the stock in a research report on Wednesday, December 17th. Jefferies Financial Group restated an “underperform” rating on shares of Eversource Energy in a report on Monday, November 24th. BMO Capital Markets raised their target price on Eversource Energy from $75.00 to $79.00 and gave the stock a “market perform” rating in a research report on Tuesday, February 17th. Bank of America reiterated a “buy” rating on shares of Eversource Energy in a report on Monday, March 2nd. Finally, Janney Montgomery Scott raised Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price target on the stock in a research report on Monday, November 24th. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $74.30.

Eversource Energy Stock Performance

Shares of ES opened at $73.05 on Monday. The company has a market capitalization of $27.43 billion, a PE ratio of 15.98, a PEG ratio of 3.17 and a beta of 0.76. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.65. The company’s 50 day moving average price is $71.12 and its 200 day moving average price is $69.69. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $76.41.

Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, February 12th. The utilities provider reported $1.12 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.02. Eversource Energy had a net margin of 12.49% and a return on equity of 11.18%. The company had revenue of $3.37 billion during the quarter, compared to analyst estimates of $2.94 billion. During the same quarter last year, the business posted $1.01 EPS. The company’s revenue for the quarter was up 13.4% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. Research analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 5th will be given a dividend of $0.7875 per share. The ex-dividend date of this dividend is Thursday, March 5th. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.75. This represents a $3.15 dividend on an annualized basis and a yield of 4.3%. Eversource Energy’s payout ratio is 68.93%.

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.