OFI Invest Asset Management Trims Position in Eversource Energy $ES

Key Points

• OFI Invest Asset Management reduced its holdings in Eversource Energy by 7.8%, owning 66,640 shares worth approximately $4.24 million at the end of the last quarter.
• Eversource Energy recently declared a quarterly dividend of $0.7525 per share, which translates to an annualized yield of 4.2%, with a payout ratio of 129.18%.
• The company's stock price opened at $72.31, with a market capitalization of $26.83 billion and a consensus rating of "Hold" from analysts.

OFI Invest Asset Management cut its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 7.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 66,640 shares of the utilities provider's stock after selling 5,599 shares during the quarter. OFI Invest Asset Management's holdings in Eversource Energy were worth $4,240,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of ES. Farther Finance Advisors LLC raised its position in Eversource Energy by 105.6% during the 1st quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider's stock worth $287,000 after buying an additional 2,374 shares during the last quarter. GAMMA Investing LLC raised its position in Eversource Energy by 24.2% during the 1st quarter. GAMMA Investing LLC now owns 6,831 shares of the utilities provider's stock worth $424,000 after buying an additional 1,333 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of 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 purchasing an additional 734 shares during the period. CX Institutional acquired a new stake in shares of Eversource Energy during the 1st quarter worth approximately $162,000. Finally, Simon Quick Advisors LLC acquired a new stake in shares of Eversource Energy during the 1st quarter worth approximately $238,000. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Eversource Energy

In related news, insider Loretta D. Keane purchased 3,780 shares of the company's stock in a transaction that occurred on Friday, August 22nd. The shares were purchased at an average price of $66.07 per share, with a total value of $249,744.60. Following the purchase, the insider owned 12,033 shares of the company's stock, valued at $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.41% of the company's stock.

Eversource Energy Price Performance

Eversource Energy stock opened at $72.31 on Friday. The company's fifty day moving average price is $66.69 and its 200 day moving average price is $63.92. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $74.46. The stock has a market capitalization of $26.83 billion, a P/E ratio of 31.03, a P/E/G ratio of 2.72 and a beta of 0.67. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71.

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 (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 firm had revenue of $2.84 billion for the quarter, compared to analysts' expectations of $3.01 billion. During the same quarter last year, the company earned $0.95 EPS. The firm'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. As a group, equities research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

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

Analysts Set New Price Targets

ES has been the topic of a number of analyst reports. Mizuho raised their price objective 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. Bank of America raised their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Finally, Weiss Ratings reaffirmed a "hold (c)" rating on shares of Eversource Energy in a research note on Wednesday. Three investment analysts have rated the stock with a Buy rating, four have issued a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $64.38.

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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