Goldman Sachs Group Inc. Has $139.42 Million Position in Eversource Energy $ES

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. lowered its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 33.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the business. Sterling Investment Counsel LLC raised its position in shares of Eversource Energy by 4.9% during the first quarter. Sterling Investment Counsel LLC now owns 4,100 shares of the utilities provider's stock worth $255,000 after purchasing an additional 190 shares during the period. Retirement Planning Co of New England Inc. grew its holdings in shares of Eversource Energy by 5.6% during the first quarter. Retirement Planning Co of New England Inc. now owns 4,190 shares of the utilities provider's stock worth $260,000 after buying an additional 223 shares in the last quarter. Ascent Group LLC grew its holdings in shares of Eversource Energy by 1.2% during the fourth quarter. Ascent Group LLC now owns 19,663 shares of the utilities provider's stock worth $1,129,000 after buying an additional 230 shares in the last quarter. Advisor OS LLC grew its holdings in shares of Eversource Energy by 4.2% during the first quarter. Advisor OS LLC now owns 5,694 shares of the utilities provider's stock worth $354,000 after buying an additional 232 shares in the last quarter. Finally, First Manhattan CO. LLC. grew its holdings in shares of Eversource Energy by 2.7% during the first quarter. First Manhattan CO. LLC. now owns 9,382 shares of the utilities provider's stock worth $583,000 after buying an additional 251 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Mizuho raised 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. Bank of America raised 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 research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average target price of $64.38.

Eversource Energy Stock Performance

Shares of ES traded down $0.15 during mid-day trading on Monday, reaching $65.56. The company's stock had a trading volume of 2,869,631 shares, compared to its average volume of 2,674,051. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $68.73. The stock has a market cap of $24.33 billion, a P/E ratio of 28.14, a PEG ratio of 2.47 and a beta of 0.64. The business has a 50-day simple moving average of $65.15 and a two-hundred day simple moving average of $62.72. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) 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 company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same period last year, the firm posted $0.95 earnings per share. The business'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, equities research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

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

Insider Activity

In other news, insider Loretta D. Keane purchased 3,780 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The stock was acquired at an average cost of $66.07 per share, with a total value of $249,744.60. Following the acquisition, the insider owned 12,033 shares in the company, valued at approximately $795,020.31. This trade represents a 45.80% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

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.