Korea Investment CORP Buys Shares of 333,002 Eversource Energy $ES

Korea Investment CORP bought a new stake in shares of Eversource Energy (NYSE:ES) in the second quarter, Holdings Channel reports. The fund bought 333,002 shares of the utilities provider’s stock, valued at approximately $24,066,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of ES. Elevation Wealth Partners LLC lifted its holdings in shares of Eversource Energy by 220.2% in the second quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider’s stock worth $25,000 after buying an additional 240 shares in the last quarter. Activest Wealth Management grew its stake in Eversource Energy by 2,337.5% during the fourth quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 374 shares in the last quarter. Edmond DE Rothschild Holding S.A. purchased a new position in Eversource Energy during the second quarter valued at approximately $26,000. Garton & Associates Financial Advisors LLC bought a new stake in Eversource Energy during the 4th quarter worth approximately $28,000. Finally, Godfrey Financial Associates Inc. bought a new stake in Eversource Energy during the 4th quarter worth approximately $29,000. 79.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms have issued reports on ES. Wells Fargo & Company increased their target price on shares of Eversource Energy from $75.00 to $76.00 and gave the stock an “overweight” rating in a research note on Thursday, July 2nd. Argus lowered shares of Eversource Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 12th. Mizuho upped their price target on shares of Eversource Energy from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. Capital One Financial set a $73.00 price target on shares of Eversource Energy in a report on Wednesday, July 1st. Finally, BMO Capital Markets lowered their price objective on Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Four investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $72.92.

Eversource Energy Stock Performance

NYSE ES opened at $70.25 on Monday. Eversource Energy has a 52-week low of $61.53 and a 52-week high of $76.57. The company has a fifty day moving average of $72.71 and a 200-day moving average of $71.00. The company has a market capitalization of $26.46 billion, a P/E ratio of 18.20, a P/E/G ratio of 5.18 and a beta of 0.70. The company has a debt-to-equity ratio of 1.63, a quick ratio of 0.74 and a current ratio of 0.80.

Eversource Energy (NYSE:ES) last released its earnings results on Thursday, July 30th. The utilities provider reported $0.87 EPS for the quarter, meeting analysts’ consensus estimates of $0.87. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%.The business had revenue of $2.90 billion for the quarter, compared to analysts’ expectations of $2.99 billion. During the same quarter in the prior year, the firm earned $0.96 earnings per share. The firm’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. As a group, equities research analysts predict that Eversource Energy will post 4.64 EPS for the current fiscal year.

Insider Activity

In other news, VP Gregory B. Butler sold 7,000 shares of the stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $69.88, for a total transaction of $489,160.00. Following the transaction, the vice president directly owned 56,179 shares in the company, valued at approximately $3,925,788.52. This represents a 11.08% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.18% of the company’s stock.

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.