ZWJ Investment Counsel Inc. Sells 7,264 Shares of Eversource Energy $ES

ZWJ Investment Counsel Inc. reduced its position in shares of Eversource Energy (NYSE:ES) by 3.8% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 183,893 shares of the utilities provider’s stock after selling 7,264 shares during the quarter. ZWJ Investment Counsel Inc. owned approximately 0.05% of Eversource Energy worth $11,699,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ascent Group LLC raised its holdings in Eversource Energy by 2.7% during the 2nd quarter. Ascent Group LLC now owns 21,725 shares of the utilities provider’s stock valued at $1,382,000 after buying an additional 564 shares during the last quarter. Synergy Asset Management LLC purchased a new position in Eversource Energy during the 2nd quarter valued at $2,631,000. Cromwell Holdings LLC increased its position in Eversource Energy by 25.7% during the 2nd quarter. Cromwell Holdings LLC now owns 1,042 shares of the utilities provider’s stock valued at $66,000 after purchasing an additional 213 shares during the period. Hilltop National Bank purchased a new position in Eversource Energy during the 2nd quarter valued at $32,000. Finally, Mirae Asset Global Investments Co. Ltd. increased its position in Eversource Energy by 5.3% during the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,498 shares of the utilities provider’s stock valued at $4,040,000 after purchasing an additional 3,204 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

ES has been the topic of a number of research analyst reports. Mizuho boosted their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, June 25th. Bank of America boosted their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Eversource Energy in a research report on Saturday, September 27th. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, Eversource Energy currently has an average rating of “Hold” and a consensus target price of $64.38.

Insider Transactions at Eversource Energy

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

Eversource Energy Stock Up 1.0%

NYSE:ES opened at $72.52 on Friday. The firm’s 50-day moving average price is $66.00 and its 200-day moving average price is $63.48. The company has a market capitalization of $26.91 billion, a PE ratio of 31.12, a P/E/G ratio of 2.70 and a beta of 0.67. 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 has a 1-year low of $52.28 and a 1-year high of $73.48.

Eversource Energy (NYSE:ES) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $2.84 billion for 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%. The company’s revenue was up 12.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, equities analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

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

Eversource Energy Company Profile

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.