Eversource Energy (NYSE:ES) Sets New 52-Week High - Here's Why

Key Points

• Eversource Energy achieved a new 52-week high share price of $69.68, indicating strong trading momentum with a trading volume of 284,367 shares.
• The company received positive revisions from analysts, with Mizuho raising its price target to $72.00 and Bank of America to $67.00, while maintaining a consensus rating of "Hold."
• Eversource declared a quarterly dividend of $0.7525 per share, representing an annualized yield of 4.3%, with a significant dividend payout ratio of 129.18%.

Eversource Energy (NYSE:ES - Get Free Report)'s share price reached a new 52-week high during trading on Friday . The company traded as high as $69.68 and last traded at $69.63, with a volume of 284367 shares. The stock had previously closed at $68.50.

Analyst Ratings Changes

A number of research firms recently commented on ES. Mizuho raised their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note 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 research note on Monday, July 21st. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $64.38.

Eversource Energy Stock Up 1.6%

The company has a market cap of $25.82 billion, a price-to-earnings ratio of 29.88, a price-to-earnings-growth ratio of 2.60 and a beta of 0.64. The business's 50 day simple moving average is $65.40 and its 200-day simple moving average is $63.05. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, beating analysts' consensus estimates of $0.95 by $0.01. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. Eversource Energy's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.7525 per share. The ex-dividend date is Monday, September 22nd. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.3%. Eversource Energy's dividend payout ratio (DPR) is currently 129.18%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane purchased 3,780 shares of the business's stock in a transaction dated Friday, August 22nd. The shares were acquired at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the acquisition, the insider owned 12,033 shares of the company's stock, valued at $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.41% of the company's stock.

Institutional Trading of Eversource Energy

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. PDS Planning Inc grew its position in Eversource Energy by 4.7% in the 2nd quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider's stock worth $244,000 after purchasing an additional 173 shares during the last quarter. Avidian Wealth Enterprises LLC boosted its position in shares of Eversource Energy by 2.9% during the 2nd quarter. Avidian Wealth Enterprises LLC now owns 6,179 shares of the utilities provider's stock valued at $393,000 after acquiring an additional 176 shares in the last quarter. Thrive Wealth Management LLC boosted its position in shares of Eversource Energy by 3.6% during the 2nd quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider's stock valued at $346,000 after acquiring an additional 189 shares in the last quarter. Sterling Investment Counsel LLC boosted its position in shares of Eversource Energy by 4.9% during the 1st quarter. Sterling Investment Counsel LLC now owns 4,100 shares of the utilities provider's stock valued at $255,000 after acquiring an additional 190 shares in the last quarter. Finally, Penobscot Investment Management Company Inc. boosted its position in shares of Eversource Energy by 1.4% during the 2nd quarter. Penobscot Investment Management Company Inc. now owns 14,418 shares of the utilities provider's stock valued at $917,000 after acquiring an additional 195 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

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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