Redwood Investment Management LLC Invests $869,000 in Eversource Energy $ES

Redwood Investment Management LLC purchased a new stake in shares of Eversource Energy (NYSE:ES) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 12,022 shares of the utilities provider’s stock, valued at approximately $869,000.

Several other large investors have also recently added to or reduced their stakes in ES. Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in Eversource Energy by 1.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,831 shares of the utilities provider’s stock worth $999,000 after purchasing an additional 140 shares during the period. CX Institutional lifted its position in shares of Eversource Energy by 4.3% in the 2nd quarter. CX Institutional now owns 3,513 shares of the utilities provider’s stock worth $254,000 after buying an additional 144 shares during the last quarter. Bank & Trust Co lifted its position in shares of Eversource Energy by 2.0% in the 2nd quarter. Bank & Trust Co now owns 7,459 shares of the utilities provider’s stock worth $539,000 after buying an additional 149 shares during the last quarter. Northwestern Mutual Investment Management Company LLC boosted its holdings in shares of Eversource Energy by 1.4% in the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 11,988 shares of the utilities provider’s stock valued at $807,000 after buying an additional 160 shares during the period. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of Eversource Energy by 1.1% in the 4th quarter. CIBC Private Wealth Group LLC now owns 14,483 shares of the utilities provider’s stock valued at $975,000 after buying an additional 162 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Gregory B. Butler sold 7,000 shares of the stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $69.88, for a total value of $489,160.00. Following the completion of the transaction, the vice president owned 56,179 shares in the company, valued at $3,925,788.52. This represents a 11.08% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.18% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Citigroup reiterated a “hold” rating and set a $81.00 price objective on shares of Eversource Energy in a research note on Monday, July 27th. BMO Capital Markets decreased their target price on Eversource Energy from $73.00 to $72.00 and set a “market perform” rating for the company in a research note on Wednesday, July 22nd. Argus lowered Eversource Energy from a “buy” rating to a “hold” rating in a report on Friday, June 12th. Capital One Financial set a $73.00 price target on Eversource Energy in a research report on Wednesday, July 1st. Finally, Wells Fargo & Company increased 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. 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. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $72.92.

Eversource Energy Stock Down 1.1%

Shares of Eversource Energy stock opened at $70.86 on Friday. The company has a debt-to-equity ratio of 1.63, a current ratio of 0.80 and a quick ratio of 0.74. Eversource Energy has a 1-year low of $62.45 and a 1-year high of $76.57. The business’s fifty day moving average price is $72.86 and its two-hundred day moving average price is $71.09. The company has a market capitalization of $26.69 billion, a P/E ratio of 18.36, a PEG ratio of 5.29 and a beta of 0.70.

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

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.