Westpac Banking Corp Reduces Stake in Eversource Energy $ES

Westpac Banking Corp lessened its holdings in shares of Eversource Energy (NYSE:ES) by 9.3% during the 4th quarter, Holdings Channel.com reports. The fund owned 109,215 shares of the utilities provider’s stock after selling 11,230 shares during the period. Westpac Banking Corp’s holdings in Eversource Energy were worth $7,353,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Lodestone Wealth Management LLC purchased a new stake in Eversource Energy during the fourth quarter worth approximately $25,000. Activest Wealth Management lifted its stake in Eversource Energy by 2,337.5% during the fourth quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock worth $26,000 after purchasing an additional 374 shares during the last quarter. TFC Financial Management Inc. lifted its stake in Eversource Energy by 2,857.1% during the fourth quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider’s stock worth $28,000 after purchasing an additional 400 shares during the last quarter. Godfrey Financial Associates Inc. purchased a new stake in Eversource Energy during the fourth quarter worth approximately $29,000. Finally, Key Capital Management INC purchased a new stake in Eversource Energy during the fourth quarter worth approximately $29,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Up 2.8%

Eversource Energy stock opened at $68.48 on Wednesday. Eversource Energy has a twelve month low of $61.53 and a twelve month high of $76.41. The stock has a 50 day moving average of $68.64 and a two-hundred day moving average of $69.38. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62. The stock has a market capitalization of $25.75 billion, a price-to-earnings ratio of 14.63, a PEG ratio of 4.41 and a beta of 0.71.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share for the quarter, topping 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 company had revenue of $4.50 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same period last year, the firm earned $1.50 EPS. The firm’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. 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 business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, May 18th will be given a dividend of $0.7875 per share. This represents a $3.15 dividend on an annualized basis and a yield of 4.6%. The ex-dividend date of this dividend is Monday, May 18th. Eversource Energy’s dividend payout ratio (DPR) is presently 67.31%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ES. Argus upgraded Eversource Energy to a “strong-buy” rating in a research note on Tuesday, March 24th. Seaport Research Partners cut Eversource Energy from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. Scotiabank decreased their target price on Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating for the company in a research report on Tuesday, April 21st. Wells Fargo & Company upped their target price on Eversource Energy from $74.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a research report on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target 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.