MGO One Seven LLC Invests $292,000 in Eversource Energy $ES

MGO One Seven LLC acquired a new position in shares of Eversource Energy (NYSE:ES) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 4,586 shares of the utilities provider’s stock, valued at approximately $292,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ES. GAMMA Investing LLC raised its holdings in shares of Eversource Energy by 24.2% in the 1st quarter. GAMMA Investing LLC now owns 6,831 shares of the utilities provider’s stock valued at $424,000 after purchasing an additional 1,333 shares during the period. QRG Capital Management Inc. raised its holdings in shares of Eversource Energy by 10.6% in the 1st quarter. QRG Capital Management Inc. now owns 10,843 shares of the utilities provider’s stock valued at $673,000 after purchasing an additional 1,035 shares during the period. State of Alaska Department of Revenue raised its holdings in shares of Eversource Energy by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 42,969 shares of the utilities provider’s stock valued at $2,668,000 after purchasing an additional 1,185 shares during the period. ORG Partners LLC bought a new stake in shares of Eversource Energy in the 1st quarter valued at about $81,000. Finally, PFG Investments LLC raised its holdings in shares of Eversource Energy by 3.5% in the 1st quarter. PFG Investments LLC now owns 18,570 shares of the utilities provider’s stock valued at $1,153,000 after purchasing an additional 622 shares during the period. 79.99% of the stock is owned by institutional investors.

Eversource Energy Stock Up 1.6%

Shares of 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’s 50 day moving average is $67.27 and its 200-day moving average is $64.27. The stock has a market capitalization of $26.91 billion, a PE ratio of 31.12, a P/E/G ratio of 2.82 and a beta of 0.67. 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 announced its earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period last year, the firm earned $0.95 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a dividend of $0.7525 per share. 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 currently 129.18%.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ES. Bank of America upped their target price on shares of Eversource Energy from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eversource Energy in a report on Wednesday, October 8th. TD Cowen started coverage on shares of Eversource Energy in a report on Thursday. They issued a “hold” rating and a $76.00 price target on the stock. Janney Montgomery Scott reissued a “neutral” rating on shares of Eversource Energy in a report on Monday, October 13th. Finally, Mizuho increased 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. 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’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $65.67.

Insider Activity

In other news, insider Loretta D. Keane purchased 3,780 shares of Eversource Energy stock in a transaction that occurred on 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 transaction, the insider owned 12,033 shares of the company’s stock, 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 available through this link. Corporate insiders own 0.19% of the company’s stock.

About Eversource Energy

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.