Steel Grove Capital Advisors LLC Sells 278 Shares of Eversource Energy $ES

Steel Grove Capital Advisors LLC decreased its position in shares of Eversource Energy (NYSE:ES) by 0.9% during the second quarter, Holdings Channel.com reports. The fund owned 29,670 shares of the utilities provider’s stock after selling 278 shares during the quarter. Steel Grove Capital Advisors LLC’s holdings in Eversource Energy were worth $1,888,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Brookstone Capital Management raised its stake in Eversource Energy by 5.9% during the 2nd quarter. Brookstone Capital Management now owns 208,437 shares of the utilities provider’s stock worth $13,261,000 after acquiring an additional 11,534 shares during the period. Avidian Wealth Enterprises LLC raised its position in shares of Eversource Energy by 2.9% during the second quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider’s stock valued at $393,000 after buying an additional 176 shares during the last quarter. DekaBank Deutsche Girozentrale raised its position in shares of Eversource Energy by 0.8% during the second quarter. DekaBank Deutsche Girozentrale now owns 101,201 shares of the utilities provider’s stock valued at $6,356,000 after buying an additional 840 shares during the last quarter. Bogart Wealth LLC raised its position in shares of Eversource Energy by 100.9% during the second quarter. Bogart Wealth LLC now owns 928 shares of the utilities provider’s stock valued at $59,000 after buying an additional 466 shares during the last quarter. Finally, Schnieders Capital Management LLC raised its position in shares of Eversource Energy by 87.9% during the second quarter. Schnieders Capital Management LLC now owns 58,444 shares of the utilities provider’s stock valued at $3,718,000 after buying an additional 27,332 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Up 0.5%

Shares of ES opened at $73.19 on Wednesday. The company’s fifty day moving average is $67.56 and its 200 day moving average is $64.44. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $74.46. The stock has a market capitalization of $27.16 billion, a PE ratio of 31.41, a P/E/G ratio of 2.84 and a beta of 0.67. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71.

Eversource Energy (NYSE:ES) last announced 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. 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 quarter in the previous year, the business posted $0.95 earnings per share. Eversource Energy’s quarterly 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. Sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders 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 4.1%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy’s payout ratio is presently 129.18%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on the stock. Weiss Ratings reiterated a “hold (c)” rating on shares of Eversource Energy in a research report on Wednesday, October 8th. TD Cowen assumed coverage on shares of Eversource Energy in a research report on Thursday, October 16th. They set a “hold” rating and a $76.00 price objective on the stock. Mizuho lifted their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, June 25th. Janney Montgomery Scott reiterated a “neutral” rating on shares of Eversource Energy in a research report on Monday, October 13th. Finally, Bank of America upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $73.00 to $85.00 in a research report on Tuesday. Four equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have issued a Sell rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $67.67.

Insider Buying and Selling

In other news, insider Loretta D. Keane acquired 3,780 shares of the company’s stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $66.07 per share, with a total value of $249,744.60. Following the completion of the purchase, the insider directly owned 12,033 shares of the company’s stock, valued at $795,020.31. This represents a 45.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.19% of the stock is owned by insiders.

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.