Eversource Energy $ES Shares Sold by Ethic Inc.

Ethic Inc. lowered its stake in Eversource Energy (NYSE:ES) by 15.9% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 150,932 shares of the utilities provider’s stock after selling 28,620 shares during the quarter. Ethic Inc.’s holdings in Eversource Energy were worth $9,563,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. PDS Planning Inc lifted its holdings in Eversource Energy by 4.7% in the second quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock worth $244,000 after purchasing an additional 173 shares during the period. Avidian Wealth Enterprises LLC lifted its holdings in Eversource Energy by 2.9% in the second quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider’s stock worth $393,000 after purchasing an additional 176 shares during the period. Thrive Wealth Management LLC lifted its holdings in Eversource Energy by 3.6% in the second quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider’s stock worth $346,000 after purchasing an additional 189 shares during the period. Penobscot Investment Management Company Inc. lifted its holdings in Eversource Energy by 1.4% in the second quarter. Penobscot Investment Management Company Inc. now owns 14,418 shares of the utilities provider’s stock worth $917,000 after purchasing an additional 195 shares during the period. Finally, Capital Investment Advisors LLC lifted its holdings in Eversource Energy by 0.8% in the second quarter. Capital Investment Advisors LLC now owns 26,467 shares of the utilities provider’s stock worth $1,684,000 after purchasing an additional 210 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ES. Jefferies Financial Group upped their price target on shares of Eversource Energy from $54.00 to $60.00 and gave the company an “underperform” rating in a report on Wednesday. Weiss Ratings reissued a “hold (c)” rating on shares of Eversource Energy in a report on Wednesday, October 8th. Mizuho upped their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, June 25th. TD Cowen began coverage on shares of Eversource Energy in a report on Thursday, October 16th. They issued a “hold” rating and a $76.00 price target for the company. Finally, Janney Montgomery Scott reissued a “neutral” rating on shares of Eversource Energy in a report on Monday, October 13th. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average target price of $69.11.

Eversource Energy Stock Performance

Eversource Energy stock opened at $73.08 on Thursday. The firm’s 50 day simple moving average is $67.70 and its 200-day simple moving average is $64.50. The company has a market cap of $27.12 billion, a P/E ratio of 31.36, a price-to-earnings-growth ratio of 2.85 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 fifty-two week low of $52.28 and a fifty-two week high of $74.46.

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 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%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $0.95 earnings per share. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. As a group, equities research analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy’s dividend payout ratio (DPR) is 129.18%.

Insider Buying and Selling at Eversource Energy

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

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.