V Square Quantitative Management LLC increased its holdings in Eversource Energy (NYSE:ES – Free Report) by 3.9% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,185 shares of the utilities provider’s stock after purchasing an additional 382 shares during the period. V Square Quantitative Management LLC’s holdings in Eversource Energy were worth $648,000 as of its most recent SEC filing.
A number of other large investors also recently added to or reduced their stakes in the business. Nuveen LLC bought a new stake in Eversource Energy in the 1st quarter worth approximately $286,130,000. Vest Financial LLC purchased a new stake in shares of Eversource Energy in the 1st quarter worth $60,273,000. Wellington Management Group LLP lifted its holdings in shares of Eversource Energy by 4.5% in the 1st quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider’s stock worth $1,068,901,000 after buying an additional 739,448 shares during the period. GAMMA Investing LLC lifted its holdings in shares of Eversource Energy by 7,616.9% in the 1st quarter. GAMMA Investing LLC now owns 424,273 shares of the utilities provider’s stock worth $26,352,000 after buying an additional 418,775 shares during the period. Finally, Magellan Asset Management Ltd lifted its holdings in shares of Eversource Energy by 6.2% in the 1st quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider’s stock worth $427,090,000 after buying an additional 401,866 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
ES has been the topic of several recent analyst reports. Mizuho upped their target price on Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, June 25th. Bank of America increased their price target on Eversource Energy from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, Eversource Energy has an average rating of “Hold” and an average price target of $64.38.
Insider Buying and Selling
In related news, insider Loretta D. Keane bought 3,780 shares of the stock in a transaction that occurred 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 purchase, the insider directly owned 12,033 shares of the company’s stock, valued at $795,020.31. This trade represents a 45.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.19% of the stock is owned by insiders.
Eversource Energy Price Performance
NYSE:ES opened at $71.15 on Wednesday. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $71.17. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. The stock’s fifty day moving average is $65.67 and its two-hundred day moving average is $63.27. The company has a market capitalization of $26.40 billion, a P/E ratio of 30.54, a P/E/G ratio of 2.65 and a beta of 0.64.
Eversource Energy (NYSE:ES – Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The business had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. The company’s revenue 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 analysts expect that Eversource Energy will post 4.75 EPS for the current year.
Eversource Energy Announces Dividend
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy’s payout ratio 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.
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