Nordea Investment Management AB Lowers Stock Holdings in Eversource Energy $ES

Key Points

• Nordea Investment Management AB reduced its stake in Eversource Energy by 3.2%, owning approximately 1.62 million shares valued at about $104.17 million.
• Several institutional investors have recently changed their positions in Eversource Energy, with notable increases from Wellington Management, Magellan Asset Management, and Allianz Asset Management.
• Eversource Energy announced a quarterly dividend of $0.7525, representing an annual yield of 4.2%, despite having a high dividend payout ratio of 129.18%.

Nordea Investment Management AB reduced its position in Eversource Energy (NYSE:ES - Free Report) by 3.2% in the 2nd quarter, according to its most recent filing with the SEC. The firm owned 1,623,363 shares of the utilities provider's stock after selling 53,091 shares during the period. Nordea Investment Management AB owned about 0.44% of Eversource Energy worth $104,171,000 at the end of the most recent reporting period.

Several other institutional investors also recently made changes to their positions in ES. Nuveen LLC purchased a new stake in shares of Eversource Energy during the 1st quarter valued at $286,130,000. Wellington Management Group LLP grew its stake in shares of Eversource Energy by 4.5% during the 1st quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider's stock valued at $1,068,901,000 after buying an additional 739,448 shares during the period. Magellan Asset Management Ltd grew its stake in shares of Eversource Energy by 6.2% during the 1st quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider's stock valued at $427,090,000 after buying an additional 401,866 shares during the period. Vanguard Group Inc. grew its stake in shares of Eversource Energy by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider's stock valued at $2,792,559,000 after buying an additional 351,780 shares during the period. Finally, Allianz Asset Management GmbH grew its stake in shares of Eversource Energy by 244.5% during the 2nd quarter. Allianz Asset Management GmbH now owns 373,788 shares of the utilities provider's stock valued at $23,780,000 after buying an additional 265,290 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Stock Performance

NYSE:ES opened at $72.52 on Friday. 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 50-day moving average of $67.27 and a two-hundred day moving average of $64.25. The stock has a market cap of $26.91 billion, a P/E ratio of 31.12, a PEG ratio of 2.78 and a beta of 0.67. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $74.46.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share 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 analysts' expectations of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The firm's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, research analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Weiss Ratings reissued a "hold (c)" rating on shares of Eversource Energy in a research note on Wednesday, October 8th. TD Cowen started coverage on shares of Eversource Energy in a report on Thursday. They set a "hold" rating and a $76.00 target price on the stock. Mizuho lifted their target price 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. Janney Montgomery Scott restated a "neutral" rating on shares of Eversource Energy in a report on Monday, October 13th. Finally, Bank of America lifted their target price on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a report on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $65.67.

Insiders Place Their Bets

In other news, insider Loretta D. Keane acquired 3,780 shares of the firm's stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $66.07 per share, with a total value of $249,744.60. Following the transaction, the insider directly owned 12,033 shares in the company, valued at approximately $795,020.31. This represents a 45.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.41% of the stock is currently owned by insiders.

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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