Eversource Energy (NYSE:ES) Reaches New 12-Month High - Here's Why

Key Points

• Eversource Energy shares reached a new 52-week high of $69.47, closing at $67.01 after trading over 13.6 million shares.
• Analysts have a consensus rating of "Hold" for Eversource Energy, with price targets varying between $62.00 and $72.00.
• The company announced a quarterly dividend of $0.7525 per share, resulting in an annualized yield of 4.5%, despite having a high payout ratio of 129.18%.

Eversource Energy (NYSE:ES - Get Free Report) shares reached a new 52-week high during trading on Saturday . The company traded as high as $69.47 and last traded at $67.01, with a volume of 13697735 shares changing hands. The stock had previously closed at $63.88.

Analyst Upgrades and Downgrades

A number of analysts recently commented on ES shares. Mizuho increased their price objective on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research note 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. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $64.38.

Eversource Energy Stock Up 1.3%

The business has a 50-day simple moving average of $65.14 and a two-hundred day simple moving average of $62.91. The company has a market cap of $25.43 billion, a price-to-earnings ratio of 29.43, a PEG ratio of 2.52 and a beta of 0.64. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, topping 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 company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter in the previous year, the firm earned $0.95 earnings per share. The business's quarterly revenue 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. As a group, equities analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be given a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.4%. The ex-dividend date of this dividend is Monday, September 22nd. Eversource Energy's payout ratio is currently 129.18%.

Insider Buying and Selling

In other news, insider Loretta D. Keane purchased 3,780 shares of the business's stock in a transaction on Friday, August 22nd. The stock was purchased at an average price of $66.07 per share, with a total value of $249,744.60. Following the acquisition, the insider directly owned 12,033 shares in the company, valued at approximately $795,020.31. The trade was a 45.80% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 0.19% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Eversource Energy

Several large investors have recently added to or reduced their stakes in ES. Woodline Partners LP acquired a new position in Eversource Energy in the 4th quarter valued at approximately $1,264,000. Toronto Dominion Bank raised its holdings in shares of Eversource Energy by 3.2% in the 4th quarter. Toronto Dominion Bank now owns 197,922 shares of the utilities provider's stock worth $11,367,000 after buying an additional 6,114 shares in the last quarter. Ascent Group LLC raised its holdings in shares of Eversource Energy by 1.2% in the 4th quarter. Ascent Group LLC now owns 19,663 shares of the utilities provider's stock worth $1,129,000 after buying an additional 230 shares in the last quarter. Great Valley Advisor Group Inc. raised its holdings in shares of Eversource Energy by 8.7% in the 4th quarter. Great Valley Advisor Group Inc. now owns 78,400 shares of the utilities provider's stock worth $4,502,000 after buying an additional 6,275 shares in the last quarter. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of Eversource Energy in the 4th quarter worth approximately $21,989,000. Institutional investors and hedge funds own 79.99% of the company's stock.

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.