California Public Employees Retirement System Cuts Stake in Eversource Energy $ES

California Public Employees Retirement System cut its holdings in shares of Eversource Energy (NYSE:ES) by 1.6% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 990,160 shares of the utilities provider’s stock after selling 16,145 shares during the period. California Public Employees Retirement System’s holdings in Eversource Energy were worth $68,598,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Eversource Energy by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 47,512,198 shares of the utilities provider’s stock worth $3,198,996,000 after purchasing an additional 697,829 shares in the last quarter. State Street Corp increased its position in Eversource Energy by 4.7% during the 4th 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 in the last quarter. Geode Capital Management LLC increased its position 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 valued at $646,233,000 after buying an additional 194,781 shares in the last quarter. Victory Capital Management Inc. raised its stake in 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. Finally, Morgan Stanley raised 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 buying an additional 238,723 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

Shares of ES stock opened at $74.66 on Monday. The business has a fifty day moving average of $70.72 and a 200 day moving average of $70.30. Eversource Energy has a 1 year low of $61.53 and a 1 year high of $76.41. 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 price-to-earnings ratio of 15.95, a price-to-earnings-growth ratio of 4.94 and a beta of 0.70.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.14. The business had revenue of $4.50 billion for the quarter, compared to the consensus estimate of $4.21 billion. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The company’s quarterly revenue was up 9.4% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.50 EPS. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, research analysts expect that Eversource Energy will post 4.65 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Investors of record on Monday, May 18th were given a $0.7875 dividend. The ex-dividend date was Monday, May 18th. This represents a $3.15 dividend on an annualized basis and a yield of 4.2%. Eversource Energy’s dividend payout ratio is currently 67.31%.

Insider Buying and Selling

In related news, VP Gregory B. Butler sold 7,000 shares of the stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $69.88, for a total value 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.18% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several brokerages have weighed in on ES. Wells Fargo & Company raised their price target on Eversource Energy from $75.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. Argus lowered shares of Eversource Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 12th. Mizuho lowered their target price on shares of Eversource Energy from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Thursday, March 26th. UBS Group lowered their target price on shares of Eversource Energy from $80.00 to $74.00 and set a “neutral” rating for the company in a research note on Friday, March 27th. Finally, Seaport Research Partners downgraded shares of Eversource Energy from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. Four analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target 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.