Westpac Banking Corp Cuts Position in Eversource Energy $ES

Westpac Banking Corp lowered its holdings in Eversource Energy (NYSE:ES) by 11.3% in the third quarter, Holdings Channel.com reports. The fund owned 120,445 shares of the utilities provider’s stock after selling 15,309 shares during the quarter. Westpac Banking Corp’s holdings in Eversource Energy were worth $8,568,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Universal Beteiligungs und Servicegesellschaft mbH increased its stake in shares of Eversource Energy by 7.9% during the 2nd quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 419,251 shares of the utilities provider’s stock valued at $26,673,000 after acquiring an additional 30,641 shares during the last quarter. Alps Advisors Inc. grew its holdings in Eversource Energy by 5.4% in the third quarter. Alps Advisors Inc. now owns 386,853 shares of the utilities provider’s stock valued at $27,521,000 after purchasing an additional 19,795 shares during the period. Vanguard Group Inc. increased its position in Eversource Energy by 1.5% during the second quarter. Vanguard Group Inc. now owns 45,652,661 shares of the utilities provider’s stock worth $2,904,422,000 after purchasing an additional 691,165 shares during the last quarter. Advisors Asset Management Inc. raised its stake in Eversource Energy by 31.1% during the second quarter. Advisors Asset Management Inc. now owns 39,391 shares of the utilities provider’s stock worth $2,506,000 after purchasing an additional 9,350 shares during the period. Finally, Synergy Asset Management LLC boosted its holdings in shares of Eversource Energy by 287.7% in the 3rd quarter. Synergy Asset Management LLC now owns 160,322 shares of the utilities provider’s stock valued at $10,783,000 after purchasing an additional 118,971 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Janney Montgomery Scott raised Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 target price on the stock in a research report on Monday, November 24th. Scotiabank reduced their price objective on Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a research note on Thursday, November 20th. BMO Capital Markets boosted their target price on Eversource Energy from $75.00 to $79.00 and gave the stock a “market perform” rating in a report on Tuesday, February 17th. Jefferies Financial Group restated an “underperform” rating on shares of Eversource Energy in a report on Monday, November 24th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a research report on Wednesday, January 28th. Three analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $73.90.

Eversource Energy Stock Performance

Shares of NYSE:ES opened at $74.93 on Thursday. The business’s 50-day simple moving average is $69.42 and its 200 day simple moving average is $68.91. The company has a market cap of $28.14 billion, a P/E ratio of 16.40, a PEG ratio of 3.25 and a beta of 0.77. The company has a debt-to-equity ratio of 1.66, a quick ratio of 0.59 and a current ratio of 0.65. Eversource Energy has a one year low of $52.28 and a one year high of $75.28.

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

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Thursday, March 5th will be paid a dividend of $0.7875 per share. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, March 5th. This represents a $3.15 annualized dividend and a yield of 4.2%. Eversource Energy’s payout ratio is presently 65.86%.

Insiders Place Their Bets

In other Eversource Energy news, EVP John M. Moreira sold 7,800 shares of the company’s stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $73.90, for a total value of $576,420.00. Following the completion of the transaction, the executive vice president directly owned 43,269 shares of the company’s stock, valued at $3,197,579.10. This represents a 15.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider John Y. Kim sold 6,000 shares of Eversource Energy stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $73.57, for a total value of $441,420.00. Following the sale, the insider directly owned 12,339 shares in the company, valued at approximately $907,780.23. The trade was a 32.72% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 16,381 shares of company stock worth $1,211,079 in the last quarter. 0.41% of the stock is owned by corporate insiders.

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.