Magellan Asset Management Ltd Buys Shares of 3,437,065 Eversource Energy $ES

Magellan Asset Management Ltd purchased a new stake in shares of Eversource Energy (NYSE:ES) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,437,065 shares of the utilities provider’s stock, valued at approximately $248,397,000. Eversource Energy accounts for approximately 5.6% of Magellan Asset Management Ltd’s portfolio, making the stock its biggest holding. Magellan Asset Management Ltd owned about 0.91% of Eversource Energy as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the company. Elevation Wealth Partners LLC boosted its stake in Eversource Energy by 220.2% during the 2nd quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider’s stock valued at $25,000 after purchasing an additional 240 shares during the period. Activest Wealth Management grew its position in Eversource Energy by 2,337.5% in the 4th 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. Edmond DE Rothschild Holding S.A. acquired a new stake in shares of Eversource Energy in the second quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC acquired a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $28,000. Finally, Godfrey Financial Associates Inc. bought a new stake in shares of Eversource Energy during the fourth quarter valued at approximately $29,000. Institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on ES. Mizuho boosted their price objective on Eversource Energy from $70.00 to $74.00 and gave the stock a “neutral” rating in a research report on Monday, August 3rd. Capital One Financial set a $73.00 target price on Eversource Energy in a research report on Wednesday, July 1st. Argus downgraded Eversource Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 12th. Wells Fargo & Company boosted their price target on Eversource Energy from $75.00 to $76.00 and gave the stock an “overweight” rating in a research report on Thursday, July 2nd. Finally, Citigroup reissued a “hold” rating and set a $81.00 price target on shares of Eversource Energy in a report on Monday, July 27th. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $72.92.

Insider Transactions at Eversource Energy

In other Eversource Energy news, VP Gregory B. Butler sold 7,000 shares of the business’s stock in a transaction dated Thursday, June 4th. The stock was 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 $3,925,788.52. The trade was a 11.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 0.18% of the company’s stock.

Eversource Energy Stock Up 0.1%

Eversource Energy stock opened at $70.25 on Monday. Eversource Energy has a twelve month low of $61.53 and a twelve month high of $76.57. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.80. The firm has a market cap of $26.46 billion, a PE ratio of 18.20, a P/E/G ratio of 5.18 and a beta of 0.70. The firm’s 50 day moving average price is $72.71 and its two-hundred day moving average price is $71.00.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.87 EPS for the quarter, meeting the consensus estimate of $0.87. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same period in the previous year, the company posted $0.96 EPS. Eversource Energy’s revenue was up 2.3% on a year-over-year basis. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, research analysts predict that Eversource Energy will post 4.64 EPS for the current fiscal year.

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.