Castellan Group Has $3.55 Million Stock Position in Eversource Energy $ES

Key Points

• Castellan Group increased its stake in Eversource Energy by 6.7%, now owning 55,825 shares worth approximately $3.55 million, making it the 8th largest holding in their portfolio.
• Wall Street analysts have mixed ratings for Eversource Energy, with a current consensus rating of "Hold" and an average price target of $64.38.
• Eversource Energy recently announced a quarterly dividend of $0.7525 per share, representing a 4.2% yield, although its dividend payout ratio stands at a high 129.18%.

Castellan Group boosted its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 6.7% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 55,825 shares of the utilities provider's stock after buying an additional 3,495 shares during the period. Eversource Energy makes up about 0.7% of Castellan Group's holdings, making the stock its 8th largest holding. Castellan Group's holdings in Eversource Energy were worth $3,552,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Ballentine Partners LLC lifted its stake in Eversource Energy by 4.9% during the first quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider's stock worth $369,000 after purchasing an additional 277 shares during the last quarter. Hilltop National Bank bought a new stake in Eversource Energy during the second quarter worth about $32,000. Farther Finance Advisors LLC lifted its stake 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 worth $287,000 after purchasing an additional 2,374 shares during the last quarter. Golden State Wealth Management LLC lifted its stake 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 worth $52,000 after purchasing an additional 580 shares during the last quarter. Finally, Cambridge Investment Research Advisors Inc. lifted its stake 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 worth $4,124,000 after purchasing an additional 8,616 shares during the last quarter. Institutional investors own 79.99% of the company's stock.

Wall Street Analysts Forecast Growth

ES has been the subject of several research analyst reports. Bank of America lifted their price target on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Eversource Energy in a research note on Wednesday. Finally, Mizuho lifted their price target on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company's stock. According to MarketBeat, Eversource Energy currently has a consensus rating of "Hold" and an average target price of $64.38.

Eversource Energy Trading Down 1.5%

NYSE ES opened at $72.38 on Friday. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $74.46. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. The stock has a 50-day moving average of $66.56 and a 200-day moving average of $63.80. The firm has a market cap of $26.86 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 2.76 and a beta of 0.67.

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 return on equity of 11.00% and a net margin of 6.60%.The company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the company posted $0.95 EPS. Eversource Energy's revenue for the quarter 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, sell-side analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a dividend of $0.7525 per share. The ex-dividend date of this dividend 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 is presently 129.18%.

Insider Buying and Selling

In other Eversource Energy news, insider Loretta D. Keane purchased 3,780 shares of the stock in a transaction on Friday, August 22nd. The stock was acquired 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 trade represents a 45.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 0.41% of the stock is owned by insiders.

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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