Aberdeen Group plc Has $48.53 Million Stake in Eversource Energy $ES

Key Points

• Aberdeen Group plc increased its stake in Eversource Energy by 12.0% during the second quarter, acquiring a total of 762,881 shares worth approximately $48.53 million.
• Eversource Energy reported a net margin of 6.60% and year-over-year revenue growth of 12.0%, with earnings per share exceeding analyst expectations.
• The company declared a quarterly dividend of $0.7525 per share, resulting in an annualized yield of 4.2% and a payout ratio of 129.18%.

Aberdeen Group plc increased its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 12.0% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 762,881 shares of the utilities provider's stock after acquiring an additional 81,614 shares during the period. Aberdeen Group plc owned 0.21% of Eversource Energy worth $48,534,000 as of its most recent filing with the SEC.

Other hedge funds have also made changes to their positions in the company. Hilltop National Bank acquired a new position in shares of Eversource Energy during the 2nd quarter valued at about $32,000. Rossby Financial LCC acquired a new stake in Eversource Energy in the 1st quarter valued at approximately $34,000. Zions Bancorporation National Association UT acquired a new stake in Eversource Energy in the 1st quarter valued at approximately $46,000. Golden State Wealth Management LLC grew its holdings in Eversource Energy by 233.9% in the 1st quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider's stock valued at $52,000 after buying an additional 580 shares during the last quarter. Finally, Cromwell Holdings LLC grew its holdings in Eversource Energy by 44.2% in the 1st quarter. Cromwell Holdings LLC now owns 829 shares of the utilities provider's stock valued at $51,000 after buying an additional 254 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Eversource Energy Trading Down 0.1%

Shares of ES stock opened at $72.31 on Friday. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $74.46. The stock has a market cap of $26.83 billion, a price-to-earnings ratio of 31.03, a P/E/G ratio of 2.72 and a beta of 0.67. 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 firm has a fifty day moving average of $66.69 and a 200-day moving average of $63.92.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.95 by $0.01. The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations 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 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, equities research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.7525 dividend. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.01 annualized dividend and a yield of 4.2%. Eversource Energy's payout ratio is currently 129.18%.

Wall Street Analyst Weigh In

ES has been the topic of a number of research analyst reports. Bank of America raised their target price on Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Mizuho raised their target price on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Eversource Energy in a report on Wednesday. Three investment analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $64.38.

Insider Buying and Selling

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

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.