Jacobs Levy Equity Management Inc. Makes New $878,000 Investment in Eversource Energy $ES

Jacobs Levy Equity Management Inc. acquired a new position in Eversource Energy (NYSE:ES) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 14,142 shares of the utilities provider’s stock, valued at approximately $878,000.

Several other large investors have also recently bought and sold shares of the business. Pinney & Scofield Inc. purchased a new stake in Eversource Energy during the fourth quarter worth $33,000. Rossby Financial LCC purchased a new stake in Eversource Energy during the first quarter worth $34,000. CoreCap Advisors LLC boosted its position in Eversource Energy by 168.7% during the fourth quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider’s stock worth $35,000 after purchasing an additional 383 shares in the last quarter. First Financial Corp IN boosted its position in Eversource Energy by 3,529.4% during the first quarter. First Financial Corp IN now owns 617 shares of the utilities provider’s stock worth $38,000 after purchasing an additional 600 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in Eversource Energy during the first quarter worth $46,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insiders Place Their Bets

In other Eversource Energy news, insider Loretta D. Keane bought 3,780 shares of Eversource Energy stock in a transaction that occurred on Friday, August 22nd. The shares were purchased at an average cost of $66.07 per share, for a total transaction 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. This represents a 45.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on ES. Mizuho boosted their target price on Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 25th. Bank of America boosted 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, Wall Street Zen upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research report on Friday, May 16th. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Eversource Energy currently has an average rating of “Hold” and a consensus target price of $64.38.

Eversource Energy Trading Up 1.6%

Eversource Energy stock opened at $65.06 on Friday. The stock has a market cap of $24.14 billion, a PE ratio of 27.92, a P/E/G ratio of 2.41 and a beta of 0.64. The stock has a 50-day moving average price of $65.13 and a 200 day moving average price of $62.72. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $68.73. 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 quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $2.84 billion during 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 quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Equities research analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be given a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 4.6%. Eversource Energy’s dividend payout ratio (DPR) is presently 129.18%.

Eversource Energy 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.