Eversource Energy $ES Shares Purchased by Old North State Wealth Management LLC

Old North State Wealth Management LLC increased its holdings in shares of Eversource Energy (NYSE:ES) by 3.9% in the second quarter, Holdings Channel reports. The firm owned 7,076 shares of the utilities provider’s stock after buying an additional 263 shares during the period. Old North State Wealth Management LLC’s holdings in Eversource Energy were worth $451,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ES. Toronto Dominion Bank increased its position in shares of Eversource Energy by 3.2% during the 4th quarter. Toronto Dominion Bank now owns 197,922 shares of the utilities provider’s stock worth $11,367,000 after purchasing an additional 6,114 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in Eversource Energy in the 4th quarter valued at about $21,989,000. Lansforsakringar Fondforvaltning AB publ acquired a new position in Eversource Energy in the 4th quarter valued at about $7,023,000. MassMutual Private Wealth & Trust FSB grew its position in Eversource Energy by 32.0% in the 1st quarter. MassMutual Private Wealth & Trust FSB now owns 1,770 shares of the utilities provider’s stock valued at $110,000 after acquiring an additional 429 shares in the last quarter. Finally, First Hawaiian Bank grew its position in Eversource Energy by 68.2% in the 1st quarter. First Hawaiian Bank now owns 14,079 shares of the utilities provider’s stock valued at $874,000 after acquiring an additional 5,708 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ES has been the subject of several research reports. Mizuho lifted 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 lifted their target price on Eversource Energy from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $64.38.

Insider Activity at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane bought 3,780 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the purchase, the insider directly owned 12,033 shares in the company, valued at $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $68.54 on Friday. Eversource Energy has a one year low of $52.28 and a one year high of $69.64. The company has a market cap of $25.44 billion, a PE ratio of 29.42, a P/E/G ratio of 2.60 and a beta of 0.64. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71. The business has a 50-day simple moving average of $65.40 and a 200-day simple moving average of $63.05.

Eversource Energy (NYSE:ES) last announced 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. 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 the consensus estimate of $3.01 billion. During the same period in the previous year, the company posted $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. On average, equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be given a dividend of $0.7525 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.4%. Eversource Energy’s payout ratio is currently 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.