Bayforest Capital Ltd Invests $295,000 in Eversource Energy $ES

Key Points

• Bayforest Capital Ltd has invested $295,000 in Eversource Energy by acquiring 4,642 shares, according to their recent Form 13F filing with the SEC.
• Insider Loretta D. Keane purchased 3,780 shares of Eversource Energy, increasing her ownership by 45.80% and valuing her total stake at approximately $795,020.31.
• Eversource Energy's recent quarterly earnings exceeded expectations, reporting $0.96 EPS and setting a fiscal year 2025 guidance target of 4.670-4.820 EPS.

Bayforest Capital Ltd acquired a new position in shares of Eversource Energy (NYSE:ES - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 4,642 shares of the utilities provider's stock, valued at approximately $295,000.

Several other large investors have also modified their holdings of the business. Sagespring Wealth Partners LLC purchased a new stake in Eversource Energy during the second quarter worth $223,000. Edmp Inc. grew its position in Eversource Energy by 4.8% during the 2nd quarter. Edmp Inc. now owns 25,398 shares of the utilities provider's stock worth $1,616,000 after purchasing an additional 1,171 shares during the period. NorthRock Partners LLC grew its position in shares of Eversource Energy by 10.5% during the 2nd quarter. NorthRock Partners LLC now owns 9,155 shares of the utilities provider's stock valued at $582,000 after acquiring an additional 872 shares during the period. MGO One Seven LLC acquired a new stake in shares of Eversource Energy during the 2nd quarter valued at about $292,000. Finally, CWM LLC boosted its holdings in Eversource Energy by 3.0% in the 2nd quarter. CWM LLC now owns 42,484 shares of the utilities provider's stock worth $2,703,000 after buying an additional 1,227 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company's stock.

Insider Transactions at Eversource Energy

In other news, insider Loretta D. Keane bought 3,780 shares of the firm's stock in a transaction that occurred 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 transaction, the insider owned 12,033 shares in the company, valued at $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.41% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on ES. Weiss Ratings reiterated a "hold (c)" rating on shares of Eversource Energy in a report on Wednesday, October 8th. Mizuho upped their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Janney Montgomery Scott reaffirmed a "neutral" rating on shares of Eversource Energy in a report on Monday. Finally, Bank of America upped their target price on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Three research analysts have rated the stock with a Buy rating, five have issued a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, Eversource Energy currently has an average rating of "Hold" and a consensus price target of $64.38.

Eversource Energy Stock Up 2.3%

ES stock opened at $72.21 on Thursday. The company's 50 day simple moving average is $67.01 and its 200-day simple moving average is $64.11. The firm has a market capitalization of $26.80 billion, a PE ratio of 30.99, a P/E/G ratio of 2.75 and a beta of 0.67. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $74.46. 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 (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, beating the consensus estimate 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 for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the prior year, the business 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. Equities analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a dividend of $0.7525 per share. The ex-dividend date was Monday, September 22nd. This represents a $3.01 dividend on an annualized basis and a yield of 4.2%. Eversource Energy's dividend payout ratio (DPR) is 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.

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