Ellsworth Advisors LLC Makes New $852,000 Investment in Eversource Energy $ES

Key Points

• Ellsworth Advisors LLC has acquired a new position in Eversource Energy, purchasing 13,721 shares valued at approximately $852,000 during the first quarter.
• Multiple institutional investors have increased their stakes in Eversource Energy, with notable increases, such as CoreCap Advisors LLC boosting its stake by 168.7% during the fourth quarter.
• Brokerages have recently revised their ratings on Eversource Energy, with a consensus target price raised to $64.38, reflecting a mixed sentiment among analysts.

Ellsworth Advisors LLC bought a new position in shares of Eversource Energy (NYSE:ES - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 13,721 shares of the utilities provider's stock, valued at approximately $852,000.

Several other large investors have also added to or reduced their stakes in the business. Sterling Investment Counsel LLC boosted its holdings in Eversource Energy by 4.9% during the first quarter. Sterling Investment Counsel LLC now owns 4,100 shares of the utilities provider's stock worth $255,000 after purchasing an additional 190 shares during the last quarter. Plato Investment Management Ltd boosted its holdings in Eversource Energy by 0.4% during the first quarter. Plato Investment Management Ltd now owns 55,939 shares of the utilities provider's stock worth $3,512,000 after purchasing an additional 215 shares during the last quarter. Retirement Planning Co of New England Inc. lifted its stake in Eversource Energy by 5.6% in 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 acquiring an additional 223 shares during the last quarter. Ascent Group LLC lifted its stake in Eversource Energy by 1.2% in the fourth quarter. Ascent Group LLC now owns 19,663 shares of the utilities provider's stock valued at $1,129,000 after acquiring an additional 230 shares during the last quarter. Finally, Advisor OS LLC lifted its stake in Eversource Energy by 4.2% in the first quarter. Advisor OS LLC now owns 5,694 shares of the utilities provider's stock valued at $354,000 after acquiring an additional 232 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of the company's stock in a transaction on Friday, August 22nd. The stock was acquired at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the purchase, the insider directly owned 12,033 shares of the company's stock, valued at $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.41% of the stock is owned by insiders.

Eversource Energy Stock Performance

Shares of ES traded up $0.60 during trading hours on Friday, hitting $65.65. The company had a trading volume of 2,168,881 shares, compared to its average volume of 2,362,623. The firm has a market cap of $24.37 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.44 and a beta of 0.64. The business has a fifty day moving average of $65.15 and a 200-day moving average of $62.72. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $68.73. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67.

Eversource Energy (NYSE:ES - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.95 by $0.01. The company had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The company's revenue was up 12.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.95 earnings per share. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Equities analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders 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 annualized dividend and a dividend yield of 4.6%. Eversource Energy's dividend payout ratio is presently 129.18%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Bank of America increased their price target 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. Mizuho increased their price target 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. Finally, Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Three analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $64.38.

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.