Eversource Energy $ES Shares Bought by Jones Financial Companies Lllp

Key Points

• Jones Financial Companies Lllp increased its stake in Eversource Energy by 409.3% during the 1st quarter, now holding 30,128 shares valued at approximately $1.87 million.
• Analysts have set new price targets for Eversource Energy, with Bank of America raising their target from $62.00 to $67.00 and Mizuho increasing theirs from $68.00 to $72.00, indicating a positive outlook.
• Eversource Energy announced a quarterly dividend of $0.7525 per share, resulting in an annualized yield of 4.6%, which reflects a payout ratio of 129.18%.

Jones Financial Companies Lllp increased its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 409.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,128 shares of the utilities provider's stock after buying an additional 24,213 shares during the quarter. Jones Financial Companies Lllp's holdings in Eversource Energy were worth $1,871,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Pinney & Scofield Inc. purchased a new position in shares of Eversource Energy during the fourth quarter worth about $33,000. Rossby Financial LCC acquired a new stake in Eversource Energy in the first quarter valued at about $34,000. CoreCap Advisors LLC lifted its position in Eversource Energy by 168.7% in the fourth quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 383 shares during the period. First Financial Corp IN lifted its position in Eversource Energy by 3,529.4% in the first quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 600 shares during the period. Finally, Zions Bancorporation National Association UT acquired a new stake in Eversource Energy in the first quarter valued at about $46,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

Eversource Energy Price Performance

Shares of ES stock traded down $0.15 during midday trading on Monday, reaching $65.56. 2,869,631 shares of the company traded hands, compared to its average volume of 2,674,051. The firm's 50 day simple moving average is $65.15 and its two-hundred day simple moving average is $62.72. Eversource Energy has a 1-year low of $52.28 and a 1-year 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. The firm has a market cap of $24.33 billion, a PE ratio of 28.14, a price-to-earnings-growth ratio of 2.47 and a beta of 0.64.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings results 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 net margin of 6.60% and a return on equity of 11.00%. The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the firm earned $0.95 EPS. The company's revenue for the quarter 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, equities research analysts expect that Eversource Energy will post 4.75 EPS 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 paid a dividend of $0.7525 per share. 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 129.18%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of the company's stock in a transaction dated 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 purchase, the insider directly 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 filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

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.