Eversource Energy $ES Shares Acquired by Allstate Corp

Allstate Corp grew its stake in Eversource Energy (NYSE:ES) by 106.1% during the fourth quarter, HoldingsChannel reports. The firm owned 27,646 shares of the utilities provider’s stock after purchasing an additional 14,234 shares during the quarter. Allstate Corp’s holdings in Eversource Energy were worth $1,861,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently modified their holdings of the company. Fisher Asset Management LLC boosted its position in Eversource Energy by 13.7% during the fourth quarter. Fisher Asset Management LLC now owns 5,860 shares of the utilities provider’s stock worth $395,000 after purchasing an additional 705 shares in the last quarter. Glenview Trust Co boosted its position in Eversource Energy by 6.3% during the fourth quarter. Glenview Trust Co now owns 8,120 shares of the utilities provider’s stock worth $547,000 after purchasing an additional 481 shares in the last quarter. Hantz Financial Services Inc. boosted its position in Eversource Energy by 112.1% during the fourth quarter. Hantz Financial Services Inc. now owns 2,957 shares of the utilities provider’s stock worth $199,000 after purchasing an additional 1,563 shares in the last quarter. Mondrian Investment Partners LTD boosted its position in Eversource Energy by 2.2% during the fourth quarter. Mondrian Investment Partners LTD now owns 27,576 shares of the utilities provider’s stock worth $1,857,000 after purchasing an additional 603 shares in the last quarter. Finally, Prospera Financial Services Inc boosted its position in Eversource Energy by 30.6% during the fourth quarter. Prospera Financial Services Inc now owns 4,348 shares of the utilities provider’s stock worth $293,000 after purchasing an additional 1,020 shares in the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Performance

Shares of NYSE:ES opened at $69.10 on Friday. The firm has a market capitalization of $25.99 billion, a PE ratio of 14.76, a P/E/G ratio of 4.61 and a beta of 0.74. 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 business has a 50-day moving average of $68.79 and a two-hundred day moving average of $69.45. Eversource Energy has a 12 month low of $61.53 and a 12 month high of $76.41.

Eversource Energy (NYSE:ES) last announced its quarterly 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. The company had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.21 billion. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The firm’s revenue was up 9.4% on a year-over-year basis. During the same period in the prior year, the firm posted $1.50 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, research analysts forecast that Eversource Energy will post 4.65 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th will be given a $0.7875 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $3.15 annualized dividend and a dividend yield of 4.6%. Eversource Energy’s dividend payout ratio is presently 67.31%.

Analyst Upgrades and Downgrades

A number of analysts recently commented on the company. Bank of America reaffirmed a “buy” rating and set a $72.00 price objective on shares of Eversource Energy in a research note on Wednesday, April 22nd. JPMorgan Chase & Co. increased their price objective on Eversource Energy from $72.00 to $75.00 and gave the company an “underweight” rating in a research note on Thursday, March 12th. Scotiabank dropped their target price on Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating for the company in a research note on Tuesday, April 21st. Argus upgraded Eversource Energy to a “strong-buy” rating in a research note on Tuesday, March 24th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $71.70.

Eversource Energy Profile

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.