GAMMA Investing LLC Buys 3,237 Shares of Eversource Energy $ES

GAMMA Investing LLC raised its stake in Eversource Energy (NYSE:ES) by 47.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,068 shares of the utilities provider’s stock after purchasing an additional 3,237 shares during the quarter. GAMMA Investing LLC’s holdings in Eversource Energy were worth $641,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its position in shares of Eversource Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider’s stock valued at $2,792,559,000 after buying an additional 351,780 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Eversource Energy by 4.5% in the first quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider’s stock valued at $1,068,901,000 after buying an additional 739,448 shares during the last quarter. Magellan Asset Management Ltd lifted its position in shares of Eversource Energy by 6.2% in the first quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider’s stock valued at $427,090,000 after buying an additional 401,866 shares during the last quarter. Invesco Ltd. lifted its position in shares of Eversource Energy by 0.5% in the first quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider’s stock valued at $374,920,000 after buying an additional 32,304 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Eversource Energy by 3.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,702,415 shares of the utilities provider’s stock valued at $354,177,000 after buying an additional 185,146 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ES shares. Bank of America raised 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. Mizuho raised their price objective on Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, June 25th. Three investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $64.38.

Eversource Energy Stock Performance

NYSE:ES opened at $69.19 on Thursday. The stock has a market cap of $25.68 billion, a P/E ratio of 29.70, a PEG ratio of 2.61 and a beta of 0.64. The stock has a 50 day simple moving average of $65.32 and a 200 day simple moving average of $63.00. 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 has a 1-year low of $52.28 and a 1-year high of $69.64.

Eversource Energy (NYSE:ES) last released its quarterly 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 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 revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm posted $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 4.4%. Eversource Energy’s payout ratio is currently 129.18%.

Insiders Place Their Bets

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

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.