Swedbank AB Has $41.42 Million Stock Holdings in Eversource Energy $ES

Key Points

• Swedbank AB raised its stake in Eversource Energy by 9.8% during the second quarter, owning approximately 0.18% of the company worth $41.4 million.
• Eversource Energy reported a quarterly earnings per share of $0.96, beating estimates, and achieved revenue of $2.84 billion, which is up 12% year-over-year.
• The company announced a quarterly dividend of $0.7525 per share, resulting in an annualized dividend yield of 4.5%.

Swedbank AB boosted its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 9.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 651,091 shares of the utilities provider's stock after acquiring an additional 58,120 shares during the period. Swedbank AB owned 0.18% of Eversource Energy worth $41,422,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. bought a new position in Eversource Energy during the 4th quarter worth $33,000. Rossby Financial LCC bought a new position in Eversource Energy in the first quarter valued at about $34,000. First Financial Corp IN grew its position in Eversource Energy by 3,529.4% in the first quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 600 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in Eversource Energy in the first quarter valued at about $46,000. Finally, Cromwell Holdings LLC grew its position in Eversource Energy by 44.2% in the first quarter. Cromwell Holdings LLC now owns 829 shares of the utilities provider's stock valued at $51,000 after acquiring an additional 254 shares during the last quarter. Institutional investors own 79.99% of the company's stock.

Insider Activity at Eversource Energy

In related news, insider Loretta D. Keane purchased 3,780 shares of Eversource Energy stock in a transaction 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 transaction, the insider owned 12,033 shares of the company's stock, valued at approximately $795,020.31. This represents a 45.80% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.19% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. Mizuho lifted their target price on 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 lifted their target price on Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $64.38.

Eversource Energy Price Performance

ES stock traded up $0.87 during midday trading on Tuesday, reaching $68.53. 432,952 shares of the stock were exchanged, compared to its average volume of 2,748,989. The stock has a market capitalization of $25.43 billion, a PE ratio of 29.43, a P/E/G ratio of 2.52 and a beta of 0.64. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.47. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. The company has a fifty day moving average price of $65.14 and a 200 day moving average price of $62.91.

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 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 firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter in the previous year, the company posted $0.95 EPS. The business's 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. As a group, analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be given a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Monday, September 22nd. Eversource Energy's payout ratio is 129.18%.

Eversource Energy Company 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.