1834 Investment Advisors Co. Takes $2.35 Million Position in Eversource Energy $ES

Key Points

• 1834 Investment Advisors Co. invested approximately $2.35 million in Eversource Energy, acquiring 36,891 shares of the utility's stock during the second quarter.
• Research analysts have mixed views on Eversource Energy with an average rating of "Hold" and a target price of $64.38, while Bank of America raised its target price to $67.
• Eversource Energy announced a quarterly dividend of $0.7525, yielding 4.3%, but has a high dividend payout ratio of 129.18%.

1834 Investment Advisors Co. bought a new stake in shares of Eversource Energy (NYSE:ES - Free Report) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 36,891 shares of the utilities provider's stock, valued at approximately $2,347,000.

A number of other institutional investors also recently modified their holdings of the stock. Patton Fund Management Inc. acquired a new position in shares of Eversource Energy during the 2nd quarter valued at $242,000. ST Germain D J Co. Inc. lifted its position in shares of Eversource Energy by 99.6% during the 2nd quarter. ST Germain D J Co. Inc. now owns 36,813 shares of the utilities provider's stock valued at $2,342,000 after acquiring an additional 18,370 shares during the period. Beaumont Financial Advisors LLC lifted its position in shares of Eversource Energy by 18.0% during the 2nd quarter. Beaumont Financial Advisors LLC now owns 5,472 shares of the utilities provider's stock valued at $348,000 after acquiring an additional 833 shares during the period. CX Institutional lifted its position in shares of Eversource Energy by 10.5% during the 2nd quarter. CX Institutional now owns 2,890 shares of the utilities provider's stock valued at $184,000 after acquiring an additional 275 shares during the period. Finally, Old North State Wealth Management LLC lifted its position in shares of Eversource Energy by 3.9% during the 2nd quarter. Old North State Wealth Management LLC now owns 7,076 shares of the utilities provider's stock valued at $451,000 after acquiring an additional 263 shares during the period. Institutional investors and hedge funds own 79.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ES shares. Bank of America boosted their target price on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Mizuho upped their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Three investment analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $64.38.

Eversource Energy Stock Performance

ES opened at $69.80 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. The company's fifty day moving average price is $65.48 and its two-hundred day moving average price is $63.11. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $69.97. The company has a market cap of $25.90 billion, a price-to-earnings ratio of 29.96, a PEG ratio of 2.57 and a beta of 0.64.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share 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 net margin of 6.60% and a return on equity of 11.00%. The business's revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.95 earnings per share. 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 EPS for the current fiscal year.

Eversource Energy Announces Dividend

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

Insider Activity at Eversource Energy

In other news, insider Loretta D. Keane bought 3,780 shares of the stock in a transaction dated Friday, August 22nd. The stock was bought at an average price of $66.07 per share, for a total transaction 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 position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.41% of the stock is currently owned by corporate insiders.

Eversource Energy 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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