Eversource Energy (NYSE:ES) Trading Up 5.9% - Should You Buy?

Key Points

• Eversource Energy shares increased by 5.9%, reaching a price of $67.67, with trading volume rising 9% compared to the average.
• Analysts have mixed ratings on the stock, with a consensus rating of "Hold" and a price target of $64.38.
• The company recently declared a quarterly dividend of $0.7525 per share, providing an annualized yield of 4.5% after a 129.18% payout ratio.

Eversource Energy (NYSE:ES - Get Free Report)'s share price was up 5.9% on Friday . The stock traded as high as $67.47 and last traded at $67.67. Approximately 2,900,242 shares traded hands during mid-day trading, an increase of 9% from the average daily volume of 2,672,666 shares. The stock had previously closed at $63.88.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ES. Bank of America lifted their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Mizuho boosted their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. 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 company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $64.38.

Eversource Energy Stock Performance

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 stock's fifty day moving average is $65.07 and its two-hundred day moving average is $62.76. The firm has a market cap of $25.05 billion, a price-to-earnings ratio of 28.93, a PEG ratio of 2.38 and a beta of 0.64.

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. 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 for the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter 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. On average, analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be given a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.5%. The ex-dividend date is Monday, September 22nd. Eversource Energy's dividend payout ratio is currently 129.18%.

Insider Buying and Selling

In other news, insider Loretta D. Keane bought 3,780 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were purchased at an average price of $66.07 per share, with a total value of $249,744.60. Following the completion of the acquisition, the insider directly owned 12,033 shares in the company, valued at approximately $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.41% of the company's stock.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ES. Neo Ivy Capital Management bought a new position in shares of Eversource Energy during the 2nd quarter worth about $26,000. Trust Co. of Toledo NA OH acquired a new position in Eversource Energy in the second quarter worth $28,000. Elevation Point Wealth Partners LLC acquired a new stake in shares of Eversource Energy in the second quarter valued at $31,000. Hilltop National Bank acquired a new position in Eversource Energy during the 2nd quarter worth about $32,000. Finally, Pinney & Scofield Inc. bought a new stake in shares of Eversource Energy during the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 79.99% of the company's stock.

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.

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