Eversource Energy (NYSE:ES) Reaches New 52-Week High - Here's What Happened

Key Points

• Eversource Energy (NYSE:ES) reached a new 52-week high of $73.86, with significant trading volume of 567,387 shares.
• The company reported earnings of $0.96 per share for the last quarter, exceeding expectations, but revenues fell short of estimates at $2.84 billion.
• Eversource recently declared a quarterly dividend of $0.7525 per share, reflecting a 4.1% yield and a high payout ratio of 129.18%.

Eversource Energy (NYSE:ES - Get Free Report) reached a new 52-week high on Wednesday . The stock traded as high as $73.70 and last traded at $73.86, with a volume of 567387 shares changing hands. The stock had previously closed at $72.84.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ES. Weiss Ratings reissued a "hold (c)" rating on shares of Eversource Energy in a research report on Wednesday. Mizuho lifted their price objective on 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 lifted their price objective on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $64.38.

Eversource Energy Trading Up 1.3%

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 firm has a 50 day moving average of $66.28 and a 200 day moving average of $63.65. The firm has a market cap of $27.37 billion, a PE ratio of 31.65, a P/E/G ratio of 2.73 and a beta of 0.67.

Eversource Energy (NYSE:ES - Get Free Report) last posted its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The business's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.95 earnings per share. 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 Dividend Announcement

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

Insider Transactions at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane purchased 3,780 shares of the business's stock in a transaction on Friday, August 22nd. The stock was acquired at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the transaction, the insider directly owned 12,033 shares in the company, valued at approximately $795,020.31. This represents a 45.80% increase in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.19% of the stock is currently owned by insiders.

Institutional Trading of Eversource Energy

Several institutional investors and hedge funds have recently bought and sold shares of the stock. NBC Securities Inc. lifted its holdings in shares of Eversource Energy by 119,900.0% during the first quarter. NBC Securities Inc. now owns 2,400 shares of the utilities provider's stock valued at $149,000 after purchasing an additional 2,398 shares during the last quarter. Merit Financial Group LLC grew its position in Eversource Energy by 34.4% in the 1st quarter. Merit Financial Group LLC now owns 8,243 shares of the utilities provider's stock worth $512,000 after purchasing an additional 2,112 shares during the period. Miracle Mile Advisors LLC bought a new stake in shares of Eversource Energy during the 1st quarter valued at $208,000. Park Avenue Securities LLC grew its position in shares of Eversource Energy by 2.0% during the 1st quarter. Park Avenue Securities LLC now owns 14,756 shares of the utilities provider's stock valued at $917,000 after acquiring an additional 295 shares during the period. Finally, Capital Investment Advisors LLC grew its position in shares of Eversource Energy by 623.9% during the 1st quarter. Capital Investment Advisors LLC now owns 26,257 shares of the utilities provider's stock valued at $1,631,000 after acquiring an additional 22,630 shares during the period. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

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.

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