QRG Capital Management Inc. Decreases Holdings in Eversource Energy $ES

QRG Capital Management Inc. trimmed its position in shares of Eversource Energy (NYSE:ES) by 3.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,476 shares of the utilities provider’s stock after selling 367 shares during the period. QRG Capital Management Inc.’s holdings in Eversource Energy were worth $667,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Hilltop National Bank bought a new position in Eversource Energy during the 2nd quarter worth approximately $32,000. Rossby Financial LCC bought a new position in Eversource Energy during the 1st quarter worth approximately $34,000. Zions Bancorporation National Association UT bought a new position in Eversource Energy during the 1st quarter worth approximately $46,000. Golden State Wealth Management LLC grew its position in Eversource Energy by 233.9% during the 1st quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider’s stock worth $52,000 after acquiring an additional 580 shares during the last quarter. Finally, Cromwell Holdings LLC grew its position in Eversource Energy by 44.2% during the 1st quarter. Cromwell Holdings LLC now owns 829 shares of the utilities provider’s stock worth $51,000 after acquiring an additional 254 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Trading Down 1.5%

NYSE ES opened at $72.38 on Friday. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $74.46. The firm has a market capitalization of $26.86 billion, a PE ratio of 31.06, a P/E/G ratio of 2.76 and a beta of 0.67. The stock’s 50 day moving average is $66.56 and its 200 day moving average is $63.80.

Eversource Energy (NYSE:ES) last released 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. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The firm’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 forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

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

Insider Buying and Selling at Eversource Energy

In other news, insider Loretta D. Keane purchased 3,780 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the transaction, 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 acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the company. Bank of America raised 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. Mizuho raised their price target on Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 25th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Eversource Energy in a research report on Wednesday. Three investment 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. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $64.38.

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.