McKinley Carter Wealth Services Inc. Increases Stake in Eversource Energy $ES

Key Points

• McKinley Carter Wealth Services Inc. dramatically increased its stake in Eversource Energy by 874.6% during Q2, acquiring a total of 32,297 shares valued at $2,055,000.
• Eversource Energy recently reported a quarterly EPS of $0.96, surpassing estimates, but its revenue was below expectations at $2.84 billion.
• The company declared a quarterly dividend of $0.7525, representing an annualized yield of 4.2%, with a dividend payout ratio of 129.18%.

McKinley Carter Wealth Services Inc. lifted its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 874.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 32,297 shares of the utilities provider's stock after buying an additional 28,983 shares during the quarter. McKinley Carter Wealth Services Inc.'s holdings in Eversource Energy were worth $2,055,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of ES. Miracle Mile Advisors LLC purchased a new position in shares of Eversource Energy during the first quarter valued at about $208,000. Park Avenue Securities LLC grew its holdings in Eversource Energy by 2.0% in the first quarter. Park Avenue Securities LLC now owns 14,756 shares of the utilities provider's stock worth $917,000 after purchasing an additional 295 shares during the period. Farther Finance Advisors LLC grew its holdings in Eversource Energy by 105.6% in the first quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider's stock worth $287,000 after purchasing an additional 2,374 shares during the period. GAMMA Investing LLC grew its holdings in Eversource Energy by 24.2% in the first quarter. GAMMA Investing LLC now owns 6,831 shares of the utilities provider's stock worth $424,000 after purchasing an additional 1,333 shares during the period. Finally, Assenagon Asset Management S.A. grew its holdings in Eversource Energy by 5.6% in the first quarter. Assenagon Asset Management S.A. now owns 13,942 shares of the utilities provider's stock worth $866,000 after purchasing an additional 734 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.

Eversource Energy Stock Down 1.5%

ES opened at $72.38 on Friday. 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 $74.46. The company has a market capitalization of $26.86 billion, a PE ratio of 31.06, a PEG ratio of 2.76 and a beta of 0.67. The firm's 50 day simple moving average is $66.56 and its two-hundred day simple moving average is $63.80.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the firm earned $0.95 earnings per share. The company's quarterly 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 analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given a $0.7525 dividend. The ex-dividend date was Monday, September 22nd. This represents a $3.01 annualized dividend and a yield of 4.2%. Eversource Energy's dividend payout ratio (DPR) is presently 129.18%.

Wall Street Analyst Weigh In

ES has been the topic of a number of recent research reports. 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 report on Monday, July 21st. Weiss Ratings reiterated a "hold (c)" rating on shares of Eversource Energy in a research note on Wednesday. Finally, Mizuho upped their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an "outperform" rating in a research note on Wednesday, June 25th. Three research analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have given a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $64.38.

Insiders Place Their Bets

In other Eversource Energy news, insider Loretta D. Keane purchased 3,780 shares of the firm's stock in a transaction 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 transaction, the insider owned 12,033 shares of the company's stock, valued at approximately $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.41% of the company's stock.

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.

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