Convergence Investment Partners LLC Buys Shares of 25,780 Eversource Energy $ES

Convergence Investment Partners LLC bought a new stake in shares of Eversource Energy (NYSE:ES) in the 1st quarter, Holdings Channel reports. The firm bought 25,780 shares of the utilities provider’s stock, valued at approximately $1,786,000.

A number of other hedge funds have also recently made changes to their positions in ES. Lodestone Wealth Management LLC bought a new position in Eversource Energy during the 4th quarter valued at approximately $25,000. Activest Wealth Management boosted its holdings in Eversource Energy by 2,337.5% in the fourth quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock worth $26,000 after acquiring an additional 374 shares in the last quarter. TFC Financial Management Inc. grew its stake in shares of Eversource Energy by 2,857.1% in the fourth quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 400 shares during the last quarter. Garton & Associates Financial Advisors LLC purchased a new stake in shares of Eversource Energy in the fourth quarter worth $28,000. Finally, Key Capital Management INC bought a new position in shares of Eversource Energy during the fourth quarter valued at $29,000. 79.99% of the stock is owned by institutional investors.

Eversource Energy Stock Down 1.5%

Eversource Energy stock opened at $72.95 on Wednesday. Eversource Energy has a 12 month low of $61.53 and a 12 month high of $76.41. The stock has a fifty day simple moving average of $70.94 and a two-hundred day simple moving average of $70.39. 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 firm has a market cap of $27.44 billion, a price-to-earnings ratio of 15.59, a PEG ratio of 4.90 and a beta of 0.70.

Eversource Energy (NYSE:ES) last announced its quarterly 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 the consensus estimate of $4.21 billion. During the same period in the prior year, the company posted $1.50 earnings per share. The company’s quarterly revenue 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 predict that Eversource Energy will post 4.65 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Shareholders of record on Monday, May 18th were given a $0.7875 dividend. The ex-dividend date of this dividend 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 67.31%.

Insider Transactions at Eversource Energy

In other Eversource Energy news, VP Gregory B. Butler sold 7,000 shares of the company’s stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $69.88, for a total transaction 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.18% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Scotiabank lowered their price target 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. Weiss Ratings raised shares of Eversource Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 10th. Capital One Financial set a $73.00 price objective on shares of Eversource Energy in a research note on Wednesday, July 1st. BMO Capital Markets reaffirmed a “market perform” rating on shares of Eversource Energy in a report on Wednesday, July 1st. Finally, Seaport Research Partners downgraded shares of Eversource Energy from a “buy” rating to a “neutral” rating in a research note on Monday, April 20th. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $71.91.

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.