Maryland State Retirement & Pension System Boosts Stock Position in Eversource Energy $ES

Maryland State Retirement & Pension System grew its stake in Eversource Energy (NYSE:ES) by 6.5% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 348,939 shares of the utilities provider’s stock after purchasing an additional 21,151 shares during the period. Maryland State Retirement & Pension System’s holdings in Eversource Energy were worth $22,199,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Abel Hall LLC grew its position in shares of Eversource Energy by 13.9% in the second quarter. Abel Hall LLC now owns 8,423 shares of the utilities provider’s stock valued at $536,000 after purchasing an additional 1,028 shares in the last quarter. Mirova US LLC acquired a new position in Eversource Energy in the second quarter valued at approximately $3,677,000. Friedenthal Financial lifted its holdings in Eversource Energy by 5,771.4% in the second quarter. Friedenthal Financial now owns 1,233 shares of the utilities provider’s stock valued at $78,000 after acquiring an additional 1,212 shares during the last quarter. Shell Asset Management Co. lifted its holdings in Eversource Energy by 114.9% in the second quarter. Shell Asset Management Co. now owns 22,529 shares of the utilities provider’s stock valued at $1,433,000 after acquiring an additional 12,046 shares during the last quarter. Finally, KLP Kapitalforvaltning AS lifted its holdings in Eversource Energy by 4.7% in the second quarter. KLP Kapitalforvaltning AS now owns 383,993 shares of the utilities provider’s stock valued at $24,430,000 after acquiring an additional 17,400 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Eversource Energy

In related news, insider Loretta D. Keane acquired 3,780 shares of the business’s stock in a transaction dated Friday, August 22nd. The shares were acquired at an average price of $66.07 per share, with a total value 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. The trade was a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Stock Up 0.9%

NYSE:ES opened at $73.50 on Thursday. 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 $66.43 and its two-hundred day moving average is $63.72. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $74.46. The stock has a market capitalization of $27.28 billion, a price-to-earnings ratio of 31.55, a price-to-earnings-growth ratio of 2.74 and a beta of 0.67.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share 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 for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the prior year, the company earned $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. Research analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a dividend of $0.7525 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.1%. Eversource Energy’s dividend payout ratio is currently 129.18%.

Analyst Upgrades and Downgrades

ES has been the topic of a number of recent analyst reports. Bank of America upped their price objective on Eversource Energy from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Mizuho upped their price objective on Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, June 25th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Eversource Energy in a report on Wednesday. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $64.38.

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.