Advisors Capital Management LLC Sells 5,597 Shares of Eversource Energy $ES

Key Points

• Advisors Capital Management LLC reduced its stake in Eversource Energy by 50.8%, selling 5,597 shares and holding 5,420 shares worth approximately $337,000.
• Eversource Energy reported $0.96 earnings per share for the last quarter, exceeding analysts' expectations, and had a quarterly revenue of $2.84 billion, which was below the consensus estimate.
• The company announced a quarterly dividend of $0.7525 per share, resulting in an annual yield of 4.6% despite a high payout ratio of 129.18%.

Advisors Capital Management LLC trimmed its position in shares of Eversource Energy (NYSE:ES - Free Report) by 50.8% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,420 shares of the utilities provider's stock after selling 5,597 shares during the quarter. Advisors Capital Management LLC's holdings in Eversource Energy were worth $337,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Ameriprise Financial Inc. increased its stake in Eversource Energy by 7.4% during the 4th quarter. Ameriprise Financial Inc. now owns 130,525 shares of the utilities provider's stock valued at $7,494,000 after purchasing an additional 8,995 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Eversource Energy by 46.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 70,723 shares of the utilities provider's stock valued at $4,060,000 after acquiring an additional 22,421 shares in the last quarter. Millennium Management LLC boosted its stake in Eversource Energy by 14.0% during the 4th quarter. Millennium Management LLC now owns 760,187 shares of the utilities provider's stock valued at $43,658,000 after purchasing an additional 93,247 shares during the last quarter. NorthRock Partners LLC boosted its stake in Eversource Energy by 81.7% during the 4th quarter. NorthRock Partners LLC now owns 8,178 shares of the utilities provider's stock valued at $470,000 after purchasing an additional 3,678 shares during the last quarter. Finally, Nomura Holdings Inc. purchased a new stake in shares of Eversource Energy in the fourth quarter worth approximately $693,000. 79.99% of the stock is currently owned by institutional investors.

Insider Activity

In other news, insider Loretta D. Keane purchased 3,780 shares of the company's stock in a transaction dated 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 transaction, the insider directly owned 12,033 shares of the company's stock, valued at approximately $795,020.31. This represents a 45.80% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ES. Mizuho upped their price target on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. 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. Three research 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. According to data from MarketBeat.com, Eversource Energy has a consensus rating of "Hold" and an average price target of $64.38.

Eversource Energy Stock Performance

ES traded down $0.15 during trading on Monday, hitting $65.56. 2,869,631 shares of the company traded hands, compared to its average volume of 2,355,376. Eversource Energy has a one year low of $52.28 and a one year high of $68.73. The stock's fifty day moving average is $65.17 and its 200 day moving average is $62.74. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. The firm has a market cap of $24.33 billion, a P/E ratio of 28.14, a price-to-earnings-growth ratio of 2.47 and a beta of 0.64.

Eversource Energy (NYSE:ES - Get Free Report) last released its 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 net margin of 6.60% and a return on equity of 11.00%. The firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The company's quarterly revenue was up 12.0% on a year-over-year basis. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. As a group, equities analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 4.6%. The ex-dividend date of this dividend is Monday, September 22nd. Eversource Energy's dividend payout ratio (DPR) is currently 129.18%.

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.