Vest Financial LLC Lowers Stake in Eversource Energy $ES

Vest Financial LLC reduced its holdings in shares of Eversource Energy (NYSE:ES) by 5.0% in the second quarter, HoldingsChannel reports. The fund owned 921,600 shares of the utilities provider’s stock after selling 48,816 shares during the period. Vest Financial LLC’s holdings in Eversource Energy were worth $58,632,000 as of its most recent SEC filing.

A number of other large investors also recently bought and sold shares of ES. PDS Planning Inc raised its holdings in shares of Eversource Energy by 4.7% during the second quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock valued at $244,000 after purchasing an additional 173 shares during the last quarter. Thrive Wealth Management LLC raised its holdings in shares of Eversource Energy by 3.6% during the second quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider’s stock valued at $346,000 after purchasing an additional 189 shares during the last quarter. Sterling Investment Counsel LLC increased its holdings in Eversource Energy by 4.9% during the first quarter. Sterling Investment Counsel LLC now owns 4,100 shares of the utilities provider’s stock valued at $255,000 after buying an additional 190 shares during the last quarter. Penobscot Investment Management Company Inc. raised its position in Eversource Energy by 1.4% in the second quarter. Penobscot Investment Management Company Inc. now owns 14,418 shares of the utilities provider’s stock worth $917,000 after acquiring an additional 195 shares during the period. Finally, Capital Investment Advisors LLC boosted its stake in shares of Eversource Energy by 0.8% during the 2nd quarter. Capital Investment Advisors LLC now owns 26,467 shares of the utilities provider’s stock worth $1,684,000 after acquiring an additional 210 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Stock Performance

Shares of NYSE ES opened at $72.31 on Monday. The firm has a fifty day moving average price of $66.69 and a 200-day moving average price of $63.94. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. The stock has a market cap of $26.84 billion, a PE ratio of 31.03, a price-to-earnings-growth ratio of 2.72 and a beta of 0.67. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $74.46.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the prior year, the company posted $0.95 earnings per share. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Equities analysts anticipate 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. Stockholders of record on Monday, September 22nd were paid a $0.7525 dividend. 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 4.2%. Eversource Energy’s dividend payout ratio is 129.18%.

Insider Activity

In other news, insider Loretta D. Keane acquired 3,780 shares of Eversource Energy stock in a transaction dated Friday, August 22nd. The stock was purchased 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 in the company, valued at approximately $795,020.31. This trade represents a 45.80% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.41% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the company. Weiss Ratings restated a “hold (c)” rating on shares of Eversource Energy in a research note on Wednesday, October 8th. 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. Finally, 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. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price 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.