Pallas Capital Advisors LLC Decreases Stake in Eversource Energy $ES

Pallas Capital Advisors LLC trimmed its position in shares of Eversource Energy (NYSE:ES) by 52.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 7,680 shares of the utilities provider’s stock after selling 8,455 shares during the period. Pallas Capital Advisors LLC’s holdings in Eversource Energy were worth $517,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in ES. Lazard Asset Management LLC increased its position in shares of Eversource Energy by 43,905.7% in the 2nd quarter. Lazard Asset Management LLC now owns 2,692,707 shares of the utilities provider’s stock valued at $171,309,000 after purchasing an additional 2,686,588 shares during the last quarter. AQR Capital Management LLC lifted its position in shares of Eversource Energy by 412.7% during the 3rd quarter. AQR Capital Management LLC now owns 1,800,618 shares of the utilities provider’s stock worth $127,133,000 after purchasing an additional 1,449,388 shares during the last quarter. LSV Asset Management lifted its position in shares of Eversource Energy by 331.5% during the 3rd quarter. LSV Asset Management now owns 1,566,577 shares of the utilities provider’s stock worth $111,446,000 after purchasing an additional 1,203,563 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of Eversource Energy by 2.5% during the third quarter. Vanguard Group Inc. now owns 46,814,369 shares of the utilities provider’s stock worth $3,330,374,000 after purchasing an additional 1,161,708 shares in the last quarter. Finally, Aventail Capital Group LP grew its stake in shares of Eversource Energy by 134.6% during the third quarter. Aventail Capital Group LP now owns 1,366,121 shares of the utilities provider’s stock worth $97,186,000 after purchasing an additional 783,768 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Buying and Selling at Eversource Energy

In related news, EVP John M. Moreira sold 7,800 shares of the firm’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $73.90, for a total transaction of $576,420.00. Following the transaction, the executive vice president owned 43,269 shares of the company’s stock, valued at $3,197,579.10. This trade represents a 15.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider John Y. Kim sold 6,000 shares of the firm’s 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 transaction, the insider directly owned 12,339 shares in the company, valued at approximately $907,780.23. This represents a 32.72% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 16,381 shares of company stock worth $1,211,079. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ES. Argus upgraded Eversource Energy to a “strong-buy” rating in a research note on Tuesday, March 24th. UBS Group lowered their price objective on Eversource Energy from $80.00 to $74.00 and set a “neutral” rating for the company in a research report on Friday, March 27th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a report on Wednesday, January 28th. Wells Fargo & Company raised Eversource Energy from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $71.00 to $78.00 in a research report on Tuesday, February 17th. Finally, BMO Capital Markets decreased their target price on Eversource Energy from $79.00 to $75.00 and set a “market perform” rating for the company in a research note on Monday, March 23rd. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $72.30.

Eversource Energy Price Performance

Shares of NYSE ES opened at $69.27 on Wednesday. The stock has a market cap of $26.04 billion, a P/E ratio of 15.16, a P/E/G ratio of 3.67 and a beta of 0.76. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $76.41. The stock has a 50 day moving average of $71.26 and a two-hundred day moving average of $70.13. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66.

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

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Thursday, March 5th were paid a $0.7875 dividend. This is a boost from Eversource Energy’s previous quarterly dividend of $0.75. This represents a $3.15 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date was Thursday, March 5th. Eversource Energy’s dividend payout ratio (DPR) is presently 68.93%.

Eversource Energy Company 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.