Castle Rock Wealth Management LLC Makes New Investment in Eversource Energy $ES

Key Points

• Castle Rock Wealth Management initiated a position in Eversource Energy during the third quarter, purchasing 30,858 shares valued at approximately $2.0 million. Institutional investors collectively own about 79.99% of the company.
• Eversource shares recently traded at $65.66, near the lower end of their 52-week range. The company reported quarterly EPS of $0.87, matching estimates, while revenue rose 2.3% year over year to $2.90 billion.
• Eversource announced a quarterly dividend of $0.7875 per share, equivalent to a 4.8% annualized yield. Analysts maintain a consensus “Hold” rating with an average price target of $72.92.

Castle Rock Wealth Management LLC bought a new position in Eversource Energy (NYSE:ES - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 30,858 shares of the utilities provider's stock, valued at approximately $2,014,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wedmont Private Capital lifted its stake in shares of Eversource Energy by 8.2% in the 3rd quarter. Wedmont Private Capital now owns 4,579 shares of the utilities provider's stock worth $301,000 after purchasing an additional 348 shares during the period. BOS Asset Management LLC grew its position in Eversource Energy by 15.9% during the third quarter. BOS Asset Management LLC now owns 18,586 shares of the utilities provider's stock valued at $1,192,000 after buying an additional 2,553 shares during the period. Diversified Management Inc. purchased a new stake in Eversource Energy during the third quarter valued at approximately $571,000. GAMMA Investing LLC increased its holdings in Eversource Energy by 8.1% during the third quarter. GAMMA Investing LLC now owns 13,957 shares of the utilities provider's stock valued at $896,000 after buying an additional 1,050 shares during the last quarter. Finally, Apella Capital LLC raised its position in Eversource Energy by 16.1% in the third quarter. Apella Capital LLC now owns 6,741 shares of the utilities provider's stock worth $440,000 after acquiring an additional 936 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.

Eversource Energy Price Performance

Eversource Energy stock traded down $0.03 during mid-day trading on Friday, hitting $65.66. The stock had a trading volume of 2,136,926 shares, compared to its average volume of 2,495,472. The firm has a market capitalization of $24.73 billion, a P/E ratio of 17.01, a P/E/G ratio of 2.83 and a beta of 0.67. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63. The firm's 50 day moving average is $69.14 and its 200 day moving average is $69.92. Eversource Energy has a one year low of $62.72 and a one year high of $76.57.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $0.87. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%.The business had revenue of $2.90 billion during the quarter, compared to analyst estimates of $2.99 billion. During the same quarter in the prior year, the business posted $0.96 EPS. Eversource Energy's revenue for the quarter was up 2.3% compared to the same quarter last year. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, sell-side analysts forecast that Eversource Energy will post 4.64 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Investors of record on Monday, September 21st were paid a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 4.8%. The ex-dividend date of this dividend was Monday, September 21st. Eversource Energy's dividend payout ratio (DPR) is 81.61%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ES. BMO Capital Markets cut their price objective on shares of Eversource Energy from $73.00 to $72.00 and set a "market perform" rating for the company in a research report on Wednesday, July 22nd. Citigroup reiterated a "hold" rating and set a $81.00 target price on shares of Eversource Energy in a research report on Monday, July 27th. Weiss Ratings raised Eversource Energy from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, August 31st. Argus cut Eversource Energy from a "buy" rating to a "hold" rating in a research report on Friday, June 12th. Finally, Capital One Financial set a $73.00 price objective on Eversource Energy in a research note on Wednesday, July 1st. Four investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $72.92.

Eversource Energy Company Profile

Eversource Energy NYSE: ES is a diversified energy delivery company that operates regulated electric and natural gas utilities in the northeastern United States. Its businesses provide electricity and natural gas distribution, electric transmission, and related energy infrastructure services to residential, commercial, and industrial customers.

Eversource's electric operations serve customers across Connecticut, Massachusetts, and New Hampshire, while its natural gas distribution businesses operate primarily in Connecticut and Massachusetts.

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