Generali Asset Management SPA SGR Acquires 8,378 Shares of Eversource Energy $ES

Generali Asset Management SPA SGR boosted its stake in Eversource Energy (NYSE:ES - Free Report) by 18.6% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 53,498 shares of the utilities provider's stock after purchasing an additional 8,378 shares during the quarter. Generali Asset Management SPA SGR's holdings in Eversource Energy were worth $3,404,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Ballentine Partners LLC raised its stake in Eversource Energy by 4.9% in the first quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider's stock valued at $369,000 after purchasing an additional 277 shares in the last quarter. Hilltop National Bank acquired a new position in Eversource Energy in the second quarter valued at about $32,000. Golden State Wealth Management LLC raised its stake in Eversource Energy by 233.9% in the first quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider's stock valued at $52,000 after purchasing an additional 580 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its stake in Eversource Energy by 14.9% in the first quarter. Cambridge Investment Research Advisors Inc. now owns 66,402 shares of the utilities provider's stock valued at $4,124,000 after purchasing an additional 8,616 shares in the last quarter. Finally, Truist Financial Corp raised its stake in Eversource Energy by 60.7% in the second quarter. Truist Financial Corp now owns 34,696 shares of the utilities provider's stock valued at $2,207,000 after purchasing an additional 13,112 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Analyst Ratings Changes

Several research analysts have commented on the company. TD Cowen assumed coverage on Eversource Energy in a research note on Thursday. They set a "hold" rating and a $76.00 target price for the company. Janney Montgomery Scott reissued a "neutral" rating on shares of Eversource Energy in a research note on Monday. Mizuho boosted their target price on Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Weiss Ratings reissued a "hold (c)" rating on shares of Eversource Energy in a research note on Wednesday, October 8th. Finally, Bank of America boosted their target price on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Three equities research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $65.67.

Insider Activity

In other Eversource Energy news, insider Loretta D. Keane purchased 3,780 shares of the business's stock in a transaction on Friday, August 22nd. The shares were purchased at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the acquisition, 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 ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.41% of the company's stock.

Eversource Energy Stock Performance

Shares of ES stock opened at $71.37 on Friday. The business's 50 day simple moving average is $67.12 and its 200 day simple moving average is $64.17. Eversource Energy has a one year low of $52.28 and a one year high of $74.46. The stock has a market capitalization of $26.49 billion, a PE ratio of 30.63, a PEG ratio of 2.81 and a beta of 0.67. 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 announced its earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, beating 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 business had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same period in the prior year, the business posted $0.95 earnings per share. The firm'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, research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Monday, September 22nd. Eversource Energy's dividend payout ratio is presently 129.18%.

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.

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