Synergy Asset Management LLC Takes Position in Eversource Energy $ES

Synergy Asset Management LLC purchased a new stake in shares of Eversource Energy (NYSE:ES) in the second quarter, HoldingsChannel.com reports. The fund purchased 41,351 shares of the utilities provider’s stock, valued at approximately $2,631,000.

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

Eversource Energy Trading Up 0.3%

Shares of ES opened at $71.78 on Friday. The stock has a fifty day moving average of $65.89 and a two-hundred day moving average of $63.40. 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 company has a market capitalization of $26.64 billion, a PE ratio of 30.81, a price-to-earnings-growth ratio of 2.69 and a beta of 0.67. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $71.99.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.Eversource Energy’s revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the firm posted $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. As a group, analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a $0.7525 dividend. The ex-dividend date was Monday, September 22nd. This represents a $3.01 annualized dividend and a yield of 4.2%. Eversource Energy’s payout ratio is 129.18%.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on ES shares. Mizuho lifted their price objective on Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 25th. Bank of America lifted their price objective 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 investment 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, the stock has a consensus rating of “Hold” and a consensus price target of $64.38.

Insiders Place Their Bets

In other Eversource Energy news, insider Loretta D. Keane purchased 3,780 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the acquisition, the insider owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. The trade was a 45.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Company insiders own 0.41% of the company’s stock.

Eversource Energy Company 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.