KLP Kapitalforvaltning AS Boosts Holdings in Eversource Energy $ES

KLP Kapitalforvaltning AS grew its position in Eversource Energy (NYSE:ES) by 4.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 383,993 shares of the utilities provider’s stock after buying an additional 17,400 shares during the period. KLP Kapitalforvaltning AS’s holdings in Eversource Energy were worth $24,430,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Marks Group Wealth Management Inc purchased a new stake in shares of Eversource Energy in the 2nd quarter valued at approximately $926,000. Grimes & Company Inc. grew its stake in shares of Eversource Energy by 3.0% in the 2nd quarter. Grimes & Company Inc. now owns 8,044 shares of the utilities provider’s stock valued at $512,000 after buying an additional 238 shares during the period. Penobscot Investment Management Company Inc. grew its stake in shares of Eversource Energy by 1.4% in the 2nd quarter. Penobscot Investment Management Company Inc. now owns 14,418 shares of the utilities provider’s stock valued at $917,000 after buying an additional 195 shares during the period. AMF Tjanstepension AB boosted its position in shares of Eversource Energy by 71.3% during the 2nd quarter. AMF Tjanstepension AB now owns 244,990 shares of the utilities provider’s stock worth $15,602,000 after purchasing an additional 101,969 shares during the period. Finally, 111 Capital boosted its position in shares of Eversource Energy by 41.5% during the 2nd quarter. 111 Capital now owns 13,396 shares of the utilities provider’s stock worth $852,000 after purchasing an additional 3,931 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Transactions at Eversource Energy

In other news, insider Loretta D. Keane acquired 3,780 shares of Eversource Energy stock in a transaction dated Friday, August 22nd. The shares were acquired 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 $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts recently weighed in on ES shares. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eversource Energy in a research report on Saturday, September 27th. Mizuho increased their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 25th. Finally, Bank of America increased their price objective on shares of 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, four have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and an average price target of $64.38.

Eversource Energy Price Performance

Eversource Energy stock opened at $72.84 on Wednesday. The firm has a market cap of $27.03 billion, a PE ratio of 31.26, a price-to-earnings-growth ratio of 2.73 and a beta of 0.67. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $73.48. 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 company’s 50 day moving average is $66.28 and its two-hundred day moving average is $63.65.

Eversource Energy (NYSE:ES) last released its earnings results 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 company had revenue of $2.84 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period in the prior year, the business earned $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, research analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

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

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.