Eversource Energy $ES Holdings Raised by Sound Income Strategies LLC

Sound Income Strategies LLC increased its position in shares of Eversource Energy (NYSE:ES) by 6.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 283,450 shares of the utilities provider’s stock after purchasing an additional 17,208 shares during the quarter. Eversource Energy accounts for about 1.0% of Sound Income Strategies LLC’s investment portfolio, making the stock its 29th largest holding. Sound Income Strategies LLC’s holdings in Eversource Energy were worth $18,033,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Camelot Portfolios LLC raised its holdings in shares of Eversource Energy by 36.8% during the second quarter. Camelot Portfolios LLC now owns 26,845 shares of the utilities provider’s stock worth $1,708,000 after purchasing an additional 7,228 shares during the period. Ausbil Investment Management Ltd acquired a new position in shares of Eversource Energy in the 2nd quarter valued at about $6,059,000. ORG Wealth Partners LLC grew its position in shares of Eversource Energy by 217.3% during the 2nd quarter. ORG Wealth Partners LLC now owns 7,545 shares of the utilities provider’s stock valued at $487,000 after buying an additional 5,167 shares during the last quarter. ORG Partners LLC raised its stake in Eversource Energy by 21.7% during the second quarter. ORG Partners LLC now owns 1,597 shares of the utilities provider’s stock worth $102,000 after acquiring an additional 285 shares during the period. Finally, 1834 Investment Advisors Co. bought a new position in Eversource Energy in the second quarter worth about $2,347,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

ES has been the subject of several recent research reports. Mizuho upped their target price on Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, June 25th. Bank of America boosted their price objective on Eversource Energy from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $64.38.

Insiders Place Their Bets

In related news, insider Loretta D. Keane bought 3,780 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the transaction, the insider directly owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. This represents a 45.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is owned by insiders.

Eversource Energy Stock Performance

Shares of NYSE ES opened at $69.80 on Monday. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.97. The company has a market cap of $25.90 billion, a PE ratio of 29.96, a P/E/G ratio of 2.62 and a beta of 0.64. The stock has a 50 day simple moving average of $65.48 and a 200-day simple moving average of $63.16. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67.

Eversource Energy (NYSE:ES) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, beating the consensus estimate of $0.95 by $0.01. The firm had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The firm’s revenue was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, equities research analysts forecast 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 will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be issued a $0.7525 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $3.01 annualized dividend and a yield of 4.3%. Eversource Energy’s dividend 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.