Eversource Energy $ES Position Reduced by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its stake in Eversource Energy by 33.9%, selling 1,150,122 shares during the first quarter, leaving it with approximately 0.61% ownership valued at $139.4 million.
• Several hedge funds made adjustments to their positions in Eversource, with notable increases from Jones Financial Companies (409.3% lift) and Presima Securities (1.9% increase).
• Eversource Energy recently announced a quarterly dividend of $0.7525 per share, with a dividend yield of 4.6%, despite a relatively high payout ratio of 129.18%.

Goldman Sachs Group Inc. lessened its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 33.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 2,244,744 shares of the utilities provider's stock after selling 1,150,122 shares during the quarter. Goldman Sachs Group Inc. owned 0.61% of Eversource Energy worth $139,421,000 as of its most recent filing with the SEC.

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

Analyst Ratings Changes

A number of research firms have commented on ES. Mizuho lifted their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a report on Wednesday, June 25th. Bank of America raised 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 equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat.com, Eversource Energy presently has a consensus rating of "Hold" and an average price target of $64.38.

Eversource Energy Price Performance

Shares of ES stock traded up $0.49 during midday trading on Wednesday, reaching $63.91. 275,291 shares of the company were exchanged, compared to its average volume of 2,661,939. The company's 50 day moving average price is $65.15 and its two-hundred day moving average price is $62.75. The company has a market cap of $23.72 billion, a P/E ratio of 27.42, a PEG ratio of 2.46 and a beta of 0.64. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $68.17. 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 (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, beating analysts' consensus estimates of $0.95 by $0.01. The business 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%. The business's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the business earned $0.95 earnings per share. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be paid a dividend of $0.7525 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $3.01 annualized dividend and a yield of 4.7%. Eversource Energy's dividend payout ratio is currently 129.18%.

Insiders Place Their Bets

In other Eversource Energy news, insider Loretta D. Keane bought 3,780 shares of Eversource Energy stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the completion of 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 position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.19% 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.