Levin Capital Strategies L.P. Makes New $1.62 Million Investment in Eversource Energy $ES

Levin Capital Strategies L.P. purchased a new position in Eversource Energy (NYSE:ES) in the first quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 23,388 shares of the utilities provider’s stock, valued at approximately $1,620,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Norges Bank acquired a new position in shares of Eversource Energy during the fourth quarter valued at approximately $324,032,000. Northwestern Mutual Wealth Management Co. lifted its position in Eversource Energy by 23,707.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,649,747 shares of the utilities provider’s stock worth $313,067,000 after purchasing an additional 4,630,216 shares during the period. Victory Capital Management Inc. lifted its position in Eversource Energy by 61.8% in the fourth quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider’s stock worth $642,747,000 after purchasing an additional 3,645,555 shares during the period. Deutsche Bank AG boosted its stake in Eversource Energy by 78.1% during the 4th quarter. Deutsche Bank AG now owns 5,341,986 shares of the utilities provider’s stock valued at $359,676,000 after purchasing an additional 2,341,912 shares in the last quarter. Finally, Cohen & Steers Inc. bought a new position in Eversource Energy during the 4th quarter valued at $104,848,000. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Trading Up 2.0%

Shares of NYSE:ES opened at $74.53 on Thursday. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.65. The stock has a market capitalization of $28.03 billion, a price-to-earnings ratio of 15.92, a PEG ratio of 4.83 and a beta of 0.70. Eversource Energy has a 1-year low of $61.53 and a 1-year high of $76.41. The company has a 50 day moving average price of $71.06 and a 200 day moving average price of $70.44.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the prior year, the company earned $1.50 earnings per share. The firm’s 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. On average, research analysts anticipate that Eversource Energy will post 4.65 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th were given a dividend of $0.7875 per share. The ex-dividend date of this dividend was Monday, May 18th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.2%. Eversource Energy’s payout ratio is 67.31%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on ES shares. Wells Fargo & Company lifted their price target on Eversource Energy from $75.00 to $76.00 and gave the company an “overweight” rating in a research report on Thursday, July 2nd. UBS Group cut their price objective on Eversource Energy from $80.00 to $74.00 and set a “neutral” rating for the company in a report on Friday, March 27th. Weiss Ratings raised Eversource Energy from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 10th. Bank of America reaffirmed a “buy” rating and set a $72.00 target price on shares of Eversource Energy in a report on Wednesday, April 22nd. Finally, Mizuho dropped their price target on shares of Eversource Energy from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Thursday, March 26th. Four investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat, Eversource Energy presently has an average rating of “Hold” and a consensus price target of $71.82.

Insider Activity

In other news, VP Gregory B. Butler sold 7,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $69.88, for a total transaction of $489,160.00. Following the completion of the sale, the vice president directly owned 56,179 shares of the company’s stock, valued at $3,925,788.52. This represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 0.18% of the stock is owned by company insiders.

About Eversource Energy

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.