KLP Kapitalforvaltning AS Boosts Holdings in Eversource Energy $ES

Key Points

• KLP Kapitalforvaltning AS increased its holdings in Eversource Energy by 4.7%, owning 383,993 shares valued at approximately $24.43 million after acquiring an additional 17,400 shares during the second quarter.
• Insider Loretta D. Keane purchased 3,780 shares at an average price of $66.07, increasing her ownership in the company by 45.80%.
• Eversource Energy reported a quarterly EPS of $0.96, surpassing analysts' expectations by $0.01, with revenue of $2.84 billion, down from a consensus of $3.01 billion.

KLP Kapitalforvaltning AS raised its holdings in Eversource Energy (NYSE:ES - Free Report) by 4.7% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 383,993 shares of the utilities provider's stock after purchasing an additional 17,400 shares during the quarter. KLP Kapitalforvaltning AS owned 0.10% of Eversource Energy worth $24,430,000 at the end of the most recent reporting period.

Several other hedge funds also recently added to or reduced their stakes in ES. Hilltop National Bank acquired a new position in shares of Eversource Energy in the second quarter worth about $32,000. Rossby Financial LCC acquired a new position in shares of Eversource Energy in the first quarter worth about $34,000. Zions Bancorporation National Association UT acquired a new position in shares of Eversource Energy in the first quarter worth about $46,000. Cromwell Holdings LLC raised its position in shares of Eversource Energy by 44.2% in the first quarter. Cromwell Holdings LLC now owns 829 shares of the utilities provider's stock worth $51,000 after acquiring an additional 254 shares during the period. Finally, Golden State Wealth Management LLC raised its position in shares of Eversource Energy by 233.9% in the first quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider's stock worth $52,000 after acquiring an additional 580 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of the business's stock in a transaction on Friday, August 22nd. The stock was bought at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the acquisition, the insider 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 purchase was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.19% of the company's stock.

Eversource Energy Stock Up 0.2%

ES opened at $72.84 on Wednesday. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $73.48. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. The company has a 50-day moving average price of $66.28 and a 200 day moving average price of $63.65. The company has a market cap of $27.03 billion, a PE ratio of 31.26, a price-to-earnings-growth ratio of 2.73 and a beta of 0.67.

Eversource Energy (NYSE:ES - Get Free Report) last released 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 company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. Eversource Energy's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Sell-side analysts expect 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 was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a $0.7525 dividend. The ex-dividend date was Monday, September 22nd. This represents a $3.01 dividend on an annualized basis and a yield of 4.1%. Eversource Energy's dividend payout ratio is presently 129.18%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on ES. Mizuho upped 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. Bank of America upped their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Eversource Energy in a research report on Saturday, September 27th. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus price target 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.

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