Eversource Energy $ES Position Reduced by TD Asset Management Inc

TD Asset Management Inc cut its position in shares of Eversource Energy (NYSE:ES) by 2.2% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 142,091 shares of the utilities provider’s stock after selling 3,256 shares during the quarter. TD Asset Management Inc’s holdings in Eversource Energy were worth $9,040,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of ES. Edmp Inc. lifted its position in shares of Eversource Energy by 4.8% in the second quarter. Edmp Inc. now owns 25,398 shares of the utilities provider’s stock worth $1,616,000 after purchasing an additional 1,171 shares in the last quarter. NorthRock Partners LLC raised its position in Eversource Energy by 10.5% during the second quarter. NorthRock Partners LLC now owns 9,155 shares of the utilities provider’s stock valued at $582,000 after acquiring an additional 872 shares in the last quarter. MGO One Seven LLC bought a new position in Eversource Energy during the second quarter valued at approximately $292,000. CWM LLC raised its position in Eversource Energy by 3.0% during the second quarter. CWM LLC now owns 42,484 shares of the utilities provider’s stock valued at $2,703,000 after acquiring an additional 1,227 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new position in Eversource Energy during the second quarter valued at approximately $210,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on ES shares. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Eversource Energy in a research report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eversource Energy in a research report on Wednesday, October 8th. Mizuho lifted their price target 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 lifted their price target 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, TD Cowen started coverage on shares of Eversource Energy in a research report on Thursday. They issued a “hold” rating and a $76.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $65.67.

Eversource Energy Trading Up 1.6%

NYSE:ES opened at $72.52 on Monday. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $74.46. The firm has a market cap of $26.91 billion, a price-to-earnings ratio of 31.12, a P/E/G ratio of 2.82 and a beta of 0.67. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. The company’s 50 day moving average is $67.27 and its 200-day moving average is $64.27.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. The business 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%. Eversource Energy’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $0.95 earnings per share. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Equities analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The business 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 was Monday, September 22nd. This represents a $3.01 annualized dividend and a dividend yield of 4.2%. Eversource Energy’s dividend payout ratio (DPR) is presently 129.18%.

Insider Activity

In related news, insider Loretta D. Keane acquired 3,780 shares of the stock in a transaction dated Friday, August 22nd. The shares were acquired at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the purchase, the insider owned 12,033 shares in the company, valued at approximately $795,020.31. The trade was a 45.80% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

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.