Eversource Energy $ES Shares Acquired by Sound Income Strategies LLC

Key Points

• Sound Income Strategies LLC increased its stake in Eversource Energy by 6.5% in Q2 2023, now holding 283,450 shares valued at about $18 million.
• Wall Street analysts remain cautious, assigning Eversource Energy an average rating of "Hold" and adjusting its price target to $64.38.
• Eversource Energy announced a quarterly dividend of $0.7525 per share, yielding approximately 4.3%, with the payout representing a 129.18% dividend payout ratio.

Sound Income Strategies LLC lifted its position in shares of Eversource Energy (NYSE:ES - Free Report) by 6.5% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 283,450 shares of the utilities provider's stock after purchasing an additional 17,208 shares during the quarter. Eversource Energy comprises approximately 1.0% of Sound Income Strategies LLC's holdings, making the stock its 29th largest holding. Sound Income Strategies LLC owned approximately 0.08% of Eversource Energy worth $18,033,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Camelot Portfolios LLC increased its position in shares of Eversource Energy by 36.8% in the second quarter. Camelot Portfolios LLC now owns 26,845 shares of the utilities provider's stock worth $1,708,000 after acquiring an additional 7,228 shares in the last quarter. Ausbil Investment Management Ltd purchased a new stake in Eversource Energy during the 2nd quarter worth $6,059,000. ORG Wealth Partners LLC increased its holdings in Eversource Energy by 217.3% in the 2nd quarter. ORG Wealth Partners LLC now owns 7,545 shares of the utilities provider's stock valued at $487,000 after purchasing an additional 5,167 shares in the last quarter. ORG Partners LLC raised its position in Eversource Energy by 21.7% in the second quarter. ORG Partners LLC now owns 1,597 shares of the utilities provider's stock valued at $102,000 after purchasing an additional 285 shares during the period. Finally, 1834 Investment Advisors Co. purchased a new position in Eversource Energy in the second quarter valued at about $2,347,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Mizuho upped their target price on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Bank of America upped their price target on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $64.38.

Insiders Place Their Bets

In related news, insider Loretta D. Keane acquired 3,780 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $66.07 per share, with a total value of $249,744.60. Following the acquisition, the insider directly owned 12,033 shares in the company, valued at approximately $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

Eversource Energy Trading Up 1.9%

NYSE:ES opened at $69.80 on Monday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71. Eversource Energy has a one year low of $52.28 and a one year high of $69.97. The business's 50-day simple moving average is $65.48 and its 200 day simple moving average is $63.16. The stock has a market cap of $25.90 billion, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64.

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 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 during the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the firm earned $0.95 EPS. Eversource Energy'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. As a group, sell-side analysts predict that Eversource Energy will post 4.75 earnings per share 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. Shareholders of record on Monday, September 22nd will be paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.3%. The ex-dividend date is Monday, September 22nd. Eversource Energy's dividend 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.

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