Morgan Dempsey Capital Management LLC Trims Stock Holdings in Eversource Energy $ES

Morgan Dempsey Capital Management LLC reduced its stake in Eversource Energy (NYSE:ES) by 1.2% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 91,953 shares of the utilities provider’s stock after selling 1,112 shares during the quarter. Eversource Energy comprises approximately 2.4% of Morgan Dempsey Capital Management LLC’s portfolio, making the stock its 23rd biggest holding. Morgan Dempsey Capital Management LLC’s holdings in Eversource Energy were worth $5,850,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. PDS Planning Inc lifted its position in Eversource Energy by 4.7% during the second quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock worth $244,000 after buying an additional 173 shares during the period. Thrive Wealth Management LLC lifted its position in Eversource Energy by 3.6% during the second quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider’s stock worth $346,000 after buying an additional 189 shares during the period. Penobscot Investment Management Company Inc. lifted its position in Eversource Energy by 1.4% during the second quarter. Penobscot Investment Management Company Inc. now owns 14,418 shares of the utilities provider’s stock worth $917,000 after buying an additional 195 shares during the period. Capital Investment Advisors LLC lifted its position in Eversource Energy by 0.8% during the second quarter. Capital Investment Advisors LLC now owns 26,467 shares of the utilities provider’s stock worth $1,684,000 after buying an additional 210 shares during the period. Finally, Cromwell Holdings LLC lifted its position in Eversource Energy by 25.7% during the second quarter. Cromwell Holdings LLC now owns 1,042 shares of the utilities provider’s stock worth $66,000 after buying an additional 213 shares during the period. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Performance

Eversource Energy stock opened at $72.52 on Friday. The stock’s 50-day moving average is $67.27 and its 200-day moving average is $64.26. The company has a market cap of $26.91 billion, a price-to-earnings ratio of 31.12, a price-to-earnings-growth ratio of 2.83 and a beta of 0.67. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $74.46.

Eversource Energy (NYSE:ES) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The business had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the firm earned $0.95 earnings per share. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. 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 year.

Eversource Energy Announces Dividend

The business also recently announced 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 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 (DPR) is 129.18%.

Insider Activity

In related news, insider Loretta D. Keane bought 3,780 shares of the stock in a transaction dated Friday, August 22nd. The stock was acquired at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the purchase, the insider owned 12,033 shares in the company, valued at $795,020.31. This represents a 45.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.41% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on ES. TD Cowen began coverage on Eversource Energy in a research report on Thursday. They set a “hold” rating and a $76.00 target price on the stock. Mizuho increased their target price 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 increased their target price on Eversource Energy from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Weiss Ratings reiterated a “hold (c)” rating on shares of Eversource Energy in a research report on Wednesday, October 8th. Finally, Janney Montgomery Scott restated a “neutral” rating on shares of Eversource Energy in a report on Monday, October 13th. Three analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and a consensus price target of $65.67.

About Eversource Energy

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.