Praxis Investment Management Inc. Has $290,000 Stake in Eversource Energy $ES

Praxis Investment Management Inc. decreased its holdings in Eversource Energy (NYSE:ES) by 30.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,560 shares of the utilities provider’s stock after selling 1,970 shares during the period. Praxis Investment Management Inc.’s holdings in Eversource Energy were worth $290,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Ballentine Partners LLC grew its stake in shares of Eversource Energy by 4.9% in the 1st quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider’s stock valued at $369,000 after buying an additional 277 shares in the last quarter. Hilltop National Bank bought a new stake in shares of Eversource Energy in the 2nd quarter valued at approximately $32,000. Golden State Wealth Management LLC grew its stake in shares of Eversource Energy by 233.9% in the 1st quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider’s stock valued at $52,000 after buying an additional 580 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its stake in shares of Eversource Energy by 14.9% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 66,402 shares of the utilities provider’s stock valued at $4,124,000 after buying an additional 8,616 shares in the last quarter. Finally, Truist Financial Corp grew its stake in shares of Eversource Energy by 60.7% in the 2nd quarter. Truist Financial Corp now owns 34,696 shares of the utilities provider’s stock valued at $2,207,000 after buying an additional 13,112 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of Eversource Energy stock in a transaction dated Friday, August 22nd. The stock was bought 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 owned 12,033 shares of the company’s stock, valued at $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Stock Up 1.6%

ES opened at $72.52 on Friday. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $74.46. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. The stock has a market capitalization of $26.91 billion, a price-to-earnings ratio of 31.12, a P/E/G ratio of 2.83 and a beta of 0.67. The business has a 50 day moving average of $67.27 and a 200-day moving average of $64.26.

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

Eversource Energy Dividend Announcement

The firm also recently disclosed 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 4.2%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy’s dividend payout ratio is currently 129.18%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on the company. Mizuho boosted their price target on Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a research note on Wednesday, June 25th. TD Cowen assumed coverage on Eversource Energy in a research report on Thursday. They set a “hold” rating and a $76.00 target price for the company. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Eversource Energy in a research report on Monday, October 13th. Bank of America upped their target price on Eversource Energy from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eversource Energy in a research report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and an average price target of $65.67.

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.