Eversource Energy (NYSE:ES) Sets New 1-Year High – Here’s Why

Eversource Energy (NYSE:ES) reached a new 52-week high during trading on Thursday . The stock traded as high as $71.99 and last traded at $71.61, with a volume of 3624634 shares traded. The stock had previously closed at $71.14.

Analysts Set New Price Targets

A number of analysts have recently commented on ES shares. Bank of America lifted their price target on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Mizuho lifted their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 25th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $64.38.

Eversource Energy Trading Up 0.7%

The firm has a market capitalization of $26.58 billion, a P/E ratio of 30.73, a price-to-earnings-growth ratio of 2.67 and a beta of 0.67. The stock’s 50-day simple moving average is $65.78 and its two-hundred day simple moving average is $63.33. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63.

Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. Eversource Energy’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Equities research analysts expect that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a $0.7525 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.2%. Eversource Energy’s dividend payout ratio is 129.18%.

Insiders Place Their Bets

In other Eversource Energy news, insider Loretta D. Keane purchased 3,780 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was acquired at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the purchase, the insider directly owned 12,033 shares of the company’s stock, valued at $795,020.31. This trade represents a 45.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by insiders.

Hedge Funds Weigh In On Eversource Energy

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Nuveen LLC bought a new position in Eversource Energy during the first quarter valued at approximately $286,130,000. Norges Bank bought a new position in Eversource Energy during the second quarter valued at approximately $274,744,000. Lazard Asset Management LLC boosted its stake in Eversource Energy by 43,905.7% during the second quarter. Lazard Asset Management LLC now owns 2,692,707 shares of the utilities provider’s stock valued at $171,309,000 after buying an additional 2,686,588 shares during the last quarter. Covalis Capital LLP bought a new position in shares of Eversource Energy during the 2nd quarter valued at approximately $71,377,000. Finally, Vest Financial LLC bought a new position in shares of Eversource Energy during the 1st quarter valued at approximately $60,273,000. Institutional investors own 79.99% of the company’s stock.

About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates through Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution segments. It is involved in the transmission and distribution of electricity; solar power facilities; and distribution of natural gas.