Arvest Investments Inc. Has $1.60 Million Stock Holdings in Eversource Energy $ES

Key Points

• Arvest Investments Inc. has increased its holdings in Eversource Energy by 67.0% to a total of 25,114 shares, valued at approximately $1.60 million.
• In the latest quarterly earnings report, Eversource Energy reported $0.96 earnings per share, exceeding analysts' expectations and showing a 12.0% increase in revenue compared to the previous year.
• The company recently declared a quarterly dividend of $0.7525 per share with an annualized yield of 4.6%, despite a high dividend payout ratio of 129.18%.

Arvest Investments Inc. grew its holdings in Eversource Energy (NYSE:ES - Free Report) by 67.0% in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 25,114 shares of the utilities provider's stock after buying an additional 10,079 shares during the quarter. Arvest Investments Inc.'s holdings in Eversource Energy were worth $1,598,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of Eversource Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider's stock valued at $2,792,559,000 after buying an additional 351,780 shares in the last quarter. Wellington Management Group LLP increased its stake in shares of Eversource Energy by 4.5% in the first quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider's stock valued at $1,068,901,000 after buying an additional 739,448 shares in the last quarter. Magellan Asset Management Ltd increased its stake in shares of Eversource Energy by 6.2% in the first quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider's stock valued at $427,090,000 after buying an additional 401,866 shares in the last quarter. Invesco Ltd. increased its position in Eversource Energy by 0.5% in the first quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider's stock worth $374,920,000 after purchasing an additional 32,304 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Eversource Energy by 3.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,702,415 shares of the utilities provider's stock worth $354,177,000 after purchasing an additional 185,146 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Eversource Energy

In related news, insider Loretta D. Keane bought 3,780 shares of Eversource Energy stock in a transaction on Friday, August 22nd. The shares were purchased 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 owned 12,033 shares in the company, valued at approximately $795,020.31. This represents a 45.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.41% of the company's stock.

Eversource Energy Price Performance

Shares of ES opened at $65.65 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. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $68.73. The stock has a market cap of $24.37 billion, a P/E ratio of 28.18, a price-to-earnings-growth ratio of 2.44 and a beta of 0.64. The stock's 50-day moving average price is $65.15 and its two-hundred day moving average price is $62.72.

Eversource Energy (NYSE:ES - Get Free Report) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter last year, the business earned $0.95 earnings per share. The company's revenue 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, equities analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders 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 yield of 4.6%. Eversource Energy's dividend payout ratio (DPR) is 129.18%.

Wall Street Analysts Forecast Growth

ES has been the subject of a number of research reports. Bank of America lifted their price objective on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Mizuho lifted their price objective on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Three equities 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. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $64.38.

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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