Apollon Wealth Management LLC Boosts Holdings in Eversource Energy $ES

Apollon Wealth Management LLC grew its position in Eversource Energy (NYSE:ES) by 20.2% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 11,588 shares of the utilities provider’s stock after purchasing an additional 1,946 shares during the period. Apollon Wealth Management LLC’s holdings in Eversource Energy were worth $737,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ES. Trust Co. of Toledo NA OH purchased a new stake in shares of Eversource Energy in the 2nd quarter valued at approximately $28,000. Hilltop National Bank acquired a new stake in Eversource Energy in the 2nd quarter valued at approximately $32,000. Rossby Financial LCC acquired a new stake in Eversource Energy in the 1st quarter valued at approximately $34,000. Zions Bancorporation National Association UT acquired a new stake in Eversource Energy in the 1st quarter valued at approximately $46,000. Finally, Cromwell Holdings LLC increased its holdings in Eversource Energy by 44.2% in the 1st quarter. Cromwell Holdings LLC now owns 829 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 254 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently weighed in on ES shares. Janney Montgomery Scott reiterated a “neutral” rating on shares of Eversource Energy in a report on Monday. Mizuho lifted their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, June 25th. Bank of America lifted their target price 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Eversource Energy in a report on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus price target of $64.38.

Eversource Energy Stock Performance

Shares of Eversource Energy stock opened at $72.21 on Thursday. The business has a 50-day simple moving average of $67.01 and a 200-day simple moving average of $64.11. 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 has a one year low of $52.28 and a one year high of $74.46. The company has a market cap of $26.80 billion, a PE ratio of 30.99, a P/E/G ratio of 2.75 and a beta of 0.67.

Eversource Energy (NYSE:ES) last issued its quarterly 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. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The firm’s quarterly 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. On average, equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

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

Insider Buying and Selling

In other Eversource Energy news, insider Loretta D. Keane bought 3,780 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The shares were purchased at an average price of $66.07 per share, with a total value of $249,744.60. Following the completion of the acquisition, the insider directly owned 12,033 shares of the company’s stock, valued at $795,020.31. This represents a 45.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is owned by company insiders.

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.