Asset Management One Co. Ltd. Grows Stock Holdings in Eversource Energy $ES

Asset Management One Co. Ltd. raised its position in shares of Eversource Energy (NYSE:ES) by 2.3% during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 153,302 shares of the utilities provider’s stock after purchasing an additional 3,415 shares during the period. Asset Management One Co. Ltd.’s holdings in Eversource Energy were worth $9,753,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of ES. Vanguard Group Inc. increased its holdings in Eversource Energy by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider’s stock valued at $2,792,559,000 after purchasing an additional 351,780 shares during the period. Wellington Management Group LLP increased its stake in Eversource Energy by 4.5% in the 1st quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider’s stock worth $1,068,901,000 after buying an additional 739,448 shares in the last quarter. Magellan Asset Management Ltd grew its position in shares of Eversource Energy by 6.2% during the first quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider’s stock valued at $427,090,000 after purchasing an additional 401,866 shares in the last quarter. Invesco Ltd. grew its position in Eversource Energy by 0.5% in the first quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider’s stock worth $374,920,000 after acquiring an additional 32,304 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Eversource Energy by 3.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,702,415 shares of the utilities provider’s stock worth $354,177,000 after purchasing an additional 185,146 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ES shares. Janney Montgomery Scott reissued a “neutral” rating on shares of Eversource Energy in a report on Monday, October 13th. Jefferies Financial Group upped their price objective on shares of Eversource Energy from $54.00 to $60.00 and gave the stock an “underperform” rating in a research report on Wednesday, October 22nd. Mizuho upped their price objective on shares of Eversource Energy from $72.00 to $81.00 and gave the company an “outperform” rating in a research note on Monday. TD Cowen started coverage on shares of Eversource Energy in a research note on Thursday, October 16th. They issued a “hold” rating and a $76.00 price target for the company. Finally, Bank of America upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and increased their target price for the stock from $73.00 to $85.00 in a report on Tuesday, October 21st. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $70.11.

Insiders Place Their Bets

In other news, insider Loretta D. Keane purchased 3,780 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were bought at an average price of $66.07 per share, with a total value of $249,744.60. Following the completion of the transaction, the insider directly owned 12,033 shares in the company, valued at $795,020.31. This trade represents a 45.80% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Eversource Energy Price Performance

Eversource Energy stock opened at $74.74 on Tuesday. The firm has a 50 day moving average price of $68.26 and a 200 day moving average price of $65.02. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $75.05. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71. The company has a market cap of $27.74 billion, a price-to-earnings ratio of 32.08, a PEG ratio of 2.68 and a beta of 0.67.

Eversource Energy (NYSE:ES) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.96 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 business had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the company posted $0.95 earnings per share. The business’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. Sell-side analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s dividend payout ratio (DPR) is currently 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.