Marks Group Wealth Management Inc Invests $926,000 in Eversource Energy $ES

Key Points

• Marks Group Wealth Management Inc has invested $926,000 in Eversource Energy by acquiring 14,549 shares in the second quarter.
• Eversource Energy reported earnings per share of $0.96 for the last quarter, slightly beating analysts' expectations, while its revenue increased 12% year-over-year.
• The company declared a quarterly dividend of $0.7525, which gives it an annualized dividend yield of 4.1%.

Marks Group Wealth Management Inc purchased a new stake in Eversource Energy (NYSE:ES - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 14,549 shares of the utilities provider's stock, valued at approximately $926,000.

Several other hedge funds have also added to or reduced their stakes in ES. Ballentine Partners LLC grew 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 acquiring an additional 277 shares during the period. Farther Finance Advisors LLC lifted its holdings in shares of Eversource Energy by 105.6% during the 1st quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider's stock valued at $287,000 after purchasing an additional 2,374 shares in the last quarter. Golden State Wealth Management LLC grew its position in shares of Eversource Energy by 233.9% in the 1st 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 during the period. Cambridge Investment Research Advisors Inc. increased its stake in Eversource Energy by 14.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 66,402 shares of the utilities provider's stock worth $4,124,000 after purchasing an additional 8,616 shares in the last quarter. Finally, Assenagon Asset Management S.A. raised its holdings in Eversource Energy by 5.6% during the 1st quarter. Assenagon Asset Management S.A. now owns 13,942 shares of the utilities provider's stock worth $866,000 after buying an additional 734 shares during the period. Institutional investors and hedge funds own 79.99% of the company's stock.

Eversource Energy Stock Up 0.3%

Shares of ES stock opened at $72.75 on Tuesday. The firm's fifty day moving average price is $66.15 and its two-hundred day moving average price is $63.58. 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 has a 1 year low of $52.28 and a 1 year high of $73.48. The firm has a market capitalization of $27.00 billion, a P/E ratio of 31.22, a PEG ratio of 2.73 and a beta of 0.67.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share 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 company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter last year, the company earned $0.95 EPS. Eversource Energy's revenue for the quarter was up 12.0% compared to the same quarter last year. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, equities analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.1%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy's dividend payout ratio is presently 129.18%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on ES shares. Mizuho upped their price target on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Bank of America increased their target price on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Weiss Ratings restated a "hold (c)" rating on shares of Eversource Energy in a report on Saturday, September 27th. Three analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have issued a Sell rating to the company's stock. According to data from MarketBeat.com, Eversource Energy has a consensus rating of "Hold" and a consensus target price of $64.38.

Insider Buying and Selling at Eversource Energy

In other news, insider Loretta D. Keane bought 3,780 shares of the stock in a transaction that occurred on Friday, August 22nd. The shares were acquired 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 in the company, valued at approximately $795,020.31. This represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.41% 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.