Assetmark Inc. Purchases 8,945 Shares of Eversource Energy $ES

Assetmark Inc. lifted its holdings in Eversource Energy (NYSE:ES) by 9.4% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,097 shares of the utilities provider’s stock after acquiring an additional 8,945 shares during the quarter. Assetmark Inc.’s holdings in Eversource Energy were worth $7,212,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Vanguard Group Inc. increased its holdings in shares of Eversource Energy by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 47,512,198 shares of the utilities provider’s stock valued at $3,198,996,000 after purchasing an additional 697,829 shares in the last quarter. State Street Corp lifted its stake in Eversource Energy by 4.7% in the fourth quarter. State Street Corp now owns 28,013,053 shares of the utilities provider’s stock valued at $1,886,119,000 after buying an additional 1,265,802 shares during the period. Geode Capital Management LLC boosted its stake in Eversource Energy by 2.1% during the 4th quarter. Geode Capital Management LLC now owns 9,635,907 shares of the utilities provider’s stock worth $646,233,000 after acquiring an additional 194,781 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of Eversource Energy by 61.8% in the 4th 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 period. Finally, Morgan Stanley grew its stake in Eversource Energy by 4.2% in the fourth quarter. Morgan Stanley now owns 5,879,604 shares of the utilities provider’s stock valued at $395,874,000 after acquiring an additional 238,723 shares during the period. Institutional investors own 79.99% of the company’s stock.

Insider Buying and Selling at Eversource Energy

In other 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 completion of the transaction, the vice president owned 56,179 shares of the company’s stock, valued at $3,925,788.52. This represents a 11.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Company insiders own 0.18% of the company’s stock.

Eversource Energy Stock Down 1.5%

NYSE ES opened at $72.95 on Wednesday. The business has a fifty day moving average price of $70.94 and a two-hundred day moving average price of $70.39. The stock has a market capitalization of $27.44 billion, a PE ratio of 15.59, a PEG ratio of 4.90 and a beta of 0.70. The company has a debt-to-equity ratio of 1.62, a current ratio of 0.65 and a quick ratio of 0.59. 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 released its earnings results on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the business posted $1.50 earnings per share. The business’s revenue for the quarter was up 9.4% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Equities analysts expect that Eversource Energy will post 4.65 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, May 18th were given a dividend of $0.7875 per share. The ex-dividend date was Monday, May 18th. This represents a $3.15 dividend on an annualized basis and a yield of 4.3%. Eversource Energy’s payout ratio is currently 67.31%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the stock. Bank of America restated a “buy” rating and set a $72.00 price objective on shares of Eversource Energy in a report on Wednesday, April 22nd. Capital One Financial set a $73.00 target price on shares of Eversource Energy in a report on Wednesday, July 1st. Wells Fargo & Company upped their price objective on Eversource Energy from $75.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Mizuho reduced their target price on shares of Eversource Energy from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, March 26th. Finally, BMO Capital Markets reiterated a “market perform” rating on shares of Eversource Energy in a research report on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $71.91.

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.