Assenagon Asset Management S.A. Has $1.17 Million Stock Position in Eversource Energy $ES

Key Points

• Assenagon Asset Management S.A. increased its holdings in Eversource Energy by 31.4% during the second quarter, bringing their total shares owned to 18,315, valued at approximately $1.17 million.
• Research analysts have set new price targets for Eversource Energy, with Mizuho raising it to $72.00 and Bank of America to $67.00, reflecting a consensus rating of "Hold" and a price target of $64.38.
• Eversource Energy recently declared a quarterly dividend of $0.7525 per share, with an annualized yield of 4.3%, despite a payout ratio exceeding 129%.

Assenagon Asset Management S.A. grew its position in Eversource Energy (NYSE:ES - Free Report) by 31.4% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,315 shares of the utilities provider's stock after buying an additional 4,373 shares during the quarter. Assenagon Asset Management S.A.'s holdings in Eversource Energy were worth $1,165,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Ballentine Partners LLC grew its position in Eversource Energy by 4.9% during the 1st quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider's stock worth $369,000 after purchasing an additional 277 shares in the last quarter. Farther Finance Advisors LLC raised its position in Eversource Energy by 105.6% during the first quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider's stock valued at $287,000 after buying an additional 2,374 shares during the period. Golden State Wealth Management LLC raised its position in Eversource Energy by 233.9% during the first 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 period. Cambridge Investment Research Advisors Inc. raised its position in Eversource Energy by 14.9% during the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,402 shares of the utilities provider's stock valued at $4,124,000 after buying an additional 8,616 shares during the period. Finally, Spire Wealth Management raised its position in Eversource Energy by 110.1% during the first quarter. Spire Wealth Management now owns 8,463 shares of the utilities provider's stock valued at $526,000 after buying an additional 4,434 shares during the period. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ES has been the subject of a number of research analyst reports. Mizuho increased their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Bank of America lifted their target price on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Three equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $64.38.

Eversource Energy Trading Up 1.9%

NYSE:ES opened at $69.80 on Friday. The stock's 50 day moving average price is $65.48 and its 200 day moving average price is $63.11. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.97. The company has a market capitalization of $25.90 billion, a P/E ratio of 29.96, a P/E/G ratio of 2.57 and a beta of 0.64. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71.

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. The business 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%. Eversource Energy's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, research analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.3%. Eversource Energy's payout ratio is currently 129.18%.

Insider Buying and Selling at Eversource Energy

In related news, insider Loretta D. Keane purchased 3,780 shares of Eversource Energy stock in a transaction on Friday, August 22nd. The stock was bought at an average price of $66.07 per share, with a total value of $249,744.60. Following the completion of 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is owned by corporate insiders.

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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