Mutual of America Capital Management LLC Sells 523 Shares of Eversource Energy $ES

Mutual of America Capital Management LLC cut its stake in shares of Eversource Energy (NYSE:ES) by 1.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 42,123 shares of the utilities provider’s stock after selling 523 shares during the quarter. Mutual of America Capital Management LLC’s holdings in Eversource Energy were worth $2,680,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. PDS Planning Inc boosted its stake in shares of Eversource Energy by 4.7% in the 2nd quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock valued at $244,000 after purchasing an additional 173 shares during the last quarter. Thrive Wealth Management LLC boosted its stake in shares of Eversource Energy by 3.6% in the 2nd quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider’s stock valued at $346,000 after purchasing an additional 189 shares during the last quarter. Penobscot Investment Management Company Inc. boosted 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 purchasing an additional 195 shares during the last quarter. Capital Investment Advisors LLC boosted its stake in shares of Eversource Energy by 0.8% in the 2nd quarter. Capital Investment Advisors LLC now owns 26,467 shares of the utilities provider’s stock valued at $1,684,000 after purchasing an additional 210 shares during the last quarter. Finally, Cromwell Holdings LLC boosted its stake in shares of Eversource Energy by 25.7% in the 2nd quarter. Cromwell Holdings LLC now owns 1,042 shares of the utilities provider’s stock valued at $66,000 after purchasing an additional 213 shares during the last quarter. 79.99% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ES. Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $73.00 to $85.00 in a research note on Tuesday. TD Cowen began coverage on shares of Eversource Energy in a research note on Thursday, October 16th. They issued a “hold” rating and a $76.00 price objective on the stock. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Eversource Energy in a research note on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Eversource Energy in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group boosted their target price on shares of Eversource Energy from $54.00 to $60.00 and gave the company an “underperform” rating in a research report on Wednesday. Four analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, Eversource Energy currently has an average rating of “Hold” and a consensus target price of $69.11.

Eversource Energy Price Performance

ES opened at $74.73 on Friday. The firm has a market cap of $27.73 billion, a P/E ratio of 32.07, a PEG ratio of 2.65 and a beta of 0.67. The firm has a 50-day moving average of $68.05 and a 200 day moving average of $64.76. 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 fifty-two week low of $52.28 and a fifty-two week high of $75.05.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. The company had revenue of $2.84 billion during 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 revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.95 earnings per share. 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 year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy’s dividend payout ratio (DPR) is currently 129.18%.

Insiders Place Their Bets

In related news, insider Loretta D. Keane bought 3,780 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average cost of $66.07 per share, with a total value of $249,744.60. Following the completion of the purchase, the insider directly owned 12,033 shares of the company’s stock, valued at $795,020.31. This trade represents a 45.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. 0.41% of the stock is owned by corporate insiders.

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.