Eversource Energy $ES Shares Sold by Focus Partners Wealth

Key Points

• Focus Partners Wealth reduced its stake in Eversource Energy by 15.9%, selling 69,614 shares and leaving them with 368,998 shares valued at approximately $22.9 million.
• Multiple institutional investors, including Vanguard Group and Wellington Management, increased their positions in Eversource Energy, with 79.99% of the stock currently owned by institutional investors.
• Eversource Energy announced a quarterly dividend of $0.7525 per share, yielding 4.6%, despite a high payout ratio of 129.18%.

Focus Partners Wealth lowered its position in Eversource Energy (NYSE:ES - Free Report) by 15.9% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 368,998 shares of the utilities provider's stock after selling 69,614 shares during the period. Focus Partners Wealth owned about 0.10% of Eversource Energy worth $22,918,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in ES. Pinney & Scofield Inc. bought a new position in shares of Eversource Energy during the 4th quarter valued at about $33,000. Rossby Financial LCC bought a new position in shares of Eversource Energy during the 1st quarter valued at about $34,000. CoreCap Advisors LLC raised its position in shares of Eversource Energy by 168.7% during the 4th quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock valued at $35,000 after buying an additional 383 shares in the last quarter. First Financial Corp IN raised its position in shares of Eversource Energy by 3,529.4% during the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock valued at $38,000 after buying an additional 600 shares in the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in shares of Eversource Energy during the 1st quarter valued at about $46,000. Institutional investors own 79.99% of the company's stock.

Insiders Place Their Bets

In other news, insider Loretta D. Keane bought 3,780 shares of the 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 completion of the purchase, 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 company insiders.

Eversource Energy Trading Down 0.2%

Shares of NYSE:ES traded down $0.15 during trading on Monday, reaching $65.56. 2,869,631 shares of the company were exchanged, compared to its average volume of 2,674,051. The firm has a market capitalization of $24.33 billion, a PE ratio of 28.14, a P/E/G ratio of 2.47 and a beta of 0.64. The business's fifty day simple moving average is $65.15 and its 200-day simple moving average is $62.72. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $68.73. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63.

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 (EPS) 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%. Eversource Energy's revenue was up 12.0% compared to the same quarter last year. During the same period last year, the company posted $0.95 earnings per share. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, research analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be paid a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 4.6%. The ex-dividend date is Monday, September 22nd. Eversource Energy's dividend payout ratio (DPR) is 129.18%.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Bank of America upped their target price on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Mizuho increased their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research report on Wednesday, June 25th. Three equities research 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 has a consensus rating of "Hold" and an average target price of $64.38.

About Eversource Energy

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.