Eversource Energy $ES Shares Bought by Maryland State Retirement & Pension System

Key Points

• The Maryland State Retirement & Pension System increased its stake in Eversource Energy by 6.5% during Q2, holding approximately 348,939 shares valued at $22.2 million.
• Eversource reported an EPS of $0.96 for the last quarter, exceeding analyst expectations, with a revenue of $2.84 billion that was 12% higher year-over-year.
• The company declared a quarterly dividend of $0.7525 per share, reflecting a 4.1% yield, while its payout ratio stands at a high 129.18%.

Maryland State Retirement & Pension System boosted its position in shares of Eversource Energy (NYSE:ES - Free Report) by 6.5% in the second quarter, according to the company in its most recent filing with the SEC. The firm owned 348,939 shares of the utilities provider's stock after acquiring an additional 21,151 shares during the quarter. Maryland State Retirement & Pension System owned about 0.09% of Eversource Energy worth $22,199,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Hilltop National Bank acquired a new position in shares of Eversource Energy in the 2nd quarter valued at about $32,000. Rossby Financial LCC acquired a new position in shares of Eversource Energy in the 1st quarter valued at about $34,000. Zions Bancorporation National Association UT acquired a new position in shares of Eversource Energy in the 1st quarter valued at about $46,000. Golden State Wealth Management LLC lifted its holdings in shares of Eversource Energy by 233.9% in the 1st quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider's stock valued at $52,000 after buying an additional 580 shares during the period. Finally, Cromwell Holdings LLC lifted its holdings in shares of Eversource Energy by 44.2% in the 1st quarter. Cromwell Holdings LLC now owns 829 shares of the utilities provider's stock valued at $51,000 after buying an additional 254 shares during the period. Institutional investors and hedge funds own 79.99% of the company's stock.

Eversource Energy Price Performance

NYSE:ES opened at $73.50 on Thursday. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $74.46. The stock has a 50 day moving average of $66.43 and a two-hundred day moving average of $63.72. 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 firm has a market cap of $27.28 billion, a P/E ratio of 31.55, a price-to-earnings-growth ratio of 2.74 and a beta of 0.67.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, topping the consensus estimate 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 period in the previous year, the business 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. On average, analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a yield of 4.1%. The ex-dividend date was Monday, September 22nd. Eversource Energy's payout ratio is 129.18%.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling

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

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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