Eversource Energy (NYSE:ES) Sets New 1-Year High – Here’s Why

Shares of Eversource Energy (NYSE:ES) reached a new 52-week high during trading on Thursday . The stock traded as high as $71.99 and last traded at $71.61, with a volume of 3624634 shares trading hands. The stock had previously closed at $71.14.

Analyst Upgrades and Downgrades

Several equities analysts have commented on ES shares. Mizuho increased 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. Bank of America increased their price target on shares of Eversource Energy from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $64.38.

Eversource Energy Stock Up 0.7%

The company’s fifty day moving average price is $65.78 and its 200-day moving average price is $63.33. The stock has a market cap of $26.58 billion, a P/E ratio of 30.73, a price-to-earnings-growth ratio of 2.67 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 data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The firm’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same quarter last year, the firm earned $0.95 earnings per share. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Equities 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. Investors of record on Monday, September 22nd were paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy’s dividend payout ratio (DPR) is currently 129.18%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane bought 3,780 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was acquired 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 owned 12,033 shares in the company, valued at $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Neo Ivy Capital Management bought a new stake in Eversource Energy during the 2nd quarter valued at about $26,000. Trust Co. of Toledo NA OH bought a new stake in shares of Eversource Energy during the second quarter valued at approximately $28,000. Elevation Point Wealth Partners LLC bought a new stake in Eversource Energy during the 2nd quarter valued at $31,000. Hilltop National Bank bought a new stake in Eversource Energy during the 2nd quarter valued at $32,000. Finally, Anchor Investment Management LLC raised its position in Eversource Energy by 122.0% during the 2nd quarter. Anchor Investment Management LLC now owns 546 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 300 shares in the last quarter. Institutional investors own 79.99% 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.