Ausbil Investment Management Ltd Makes New Investment in Eversource Energy $ES

Key Points

• Ausbil Investment Management Ltd acquired a new stake in Eversource Energy, purchasing 95,243 shares valued at approximately $6.06 million, making it the firm's 6th largest position.
• Recent analyst reports have seen Mizuho raise its price target for Eversource Energy from $68 to $72 while maintaining an "outperform" rating, indicating positive expectations for the stock.
• Eversource Energy announced a quarterly dividend of $0.7525 per share, with a projected annualized dividend yield of 4.3%, though the payout ratio is notably high at 129.18%.

Ausbil Investment Management Ltd purchased a new stake in Eversource Energy (NYSE:ES - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 95,243 shares of the utilities provider's stock, valued at approximately $6,059,000. Eversource Energy accounts for 3.6% of Ausbil Investment Management Ltd's holdings, making the stock its 6th largest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Thrive Wealth Management LLC grew its holdings in Eversource Energy by 3.6% in the second quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider's stock worth $346,000 after purchasing an additional 189 shares during the period. Sterling Investment Counsel LLC grew its holdings in shares of Eversource Energy by 4.9% during the first quarter. Sterling Investment Counsel LLC now owns 4,100 shares of the utilities provider's stock valued at $255,000 after buying an additional 190 shares during the last quarter. Plato Investment Management Ltd lifted its position in shares of Eversource Energy by 0.4% during the first quarter. Plato Investment Management Ltd now owns 55,939 shares of the utilities provider's stock valued at $3,512,000 after purchasing an additional 215 shares in the last quarter. Retirement Planning Co of New England Inc. lifted its position in shares of Eversource Energy by 5.6% during the first quarter. Retirement Planning Co of New England Inc. now owns 4,190 shares of the utilities provider's stock valued at $260,000 after purchasing an additional 223 shares in the last quarter. Finally, Advisor OS LLC lifted its position in shares of Eversource Energy by 4.2% during the first quarter. Advisor OS LLC now owns 5,694 shares of the utilities provider's stock valued at $354,000 after purchasing an additional 232 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Wall Street Analyst Weigh In

ES has been the topic of several research reports. Mizuho boosted their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Bank of America boosted their price target 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. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $64.38.

Eversource Energy Price Performance

ES stock opened at $69.80 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. Eversource Energy has a one year low of $52.28 and a one year high of $69.97. The stock has a market cap of $25.90 billion, a PE ratio of 29.96, a P/E/G ratio of 2.62 and a beta of 0.64. The firm has a 50 day simple moving average of $65.48 and a two-hundred day simple moving average of $63.13.

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

Eversource Energy Dividend Announcement

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

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of the stock in a transaction dated Friday, August 22nd. The stock was purchased at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the acquisition, the insider owned 12,033 shares in the company, valued at $795,020.31. The trade was a 45.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.41% of the company's stock.

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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