Optimize Financial Inc Invests $264,000 in Eversource Energy $ES

Key Points

• Optimize Financial Inc purchased a new stake in Eversource Energy, acquiring 4,245 shares valued at approximately $264,000.
• Multiple hedge funds have increased their stakes in Eversource Energy, with Ameriprise Financial Inc. raising its stake by 7.4% and CoreCap Advisors LLC boosting its position by 168.7%.
• Eversource Energy received mixed ratings from analysts, maintaining a consensus rating of "Hold" with a target price of $64.38, despite recent upgrades from some firms.

Optimize Financial Inc bought a new position in shares of Eversource Energy (NYSE:ES - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,245 shares of the utilities provider's stock, valued at approximately $264,000.

Several other institutional investors have also recently added to or reduced their stakes in ES. Sterling Investment Counsel LLC lifted its holdings in Eversource Energy by 4.9% in the 1st quarter. Sterling Investment Counsel LLC now owns 4,100 shares of the utilities provider's stock valued at $255,000 after purchasing an additional 190 shares in the last quarter. Retirement Planning Co of New England Inc. lifted its holdings in Eversource Energy by 5.6% in the 1st quarter. Retirement Planning Co of New England Inc. now owns 4,190 shares of the utilities provider's stock valued at $260,000 after purchasing an additional 223 shares in the last quarter. Ascent Group LLC lifted its holdings in Eversource Energy by 1.2% in the 4th quarter. Ascent Group LLC now owns 19,663 shares of the utilities provider's stock valued at $1,129,000 after purchasing an additional 230 shares in the last quarter. Advisor OS LLC lifted its holdings in Eversource Energy by 4.2% in the 1st quarter. Advisor OS LLC now owns 5,694 shares of the utilities provider's stock valued at $354,000 after purchasing an additional 232 shares in the last quarter. Finally, First Manhattan CO. LLC. lifted its holdings in Eversource Energy by 2.7% in the 1st quarter. First Manhattan CO. LLC. now owns 9,382 shares of the utilities provider's stock valued at $583,000 after purchasing an additional 251 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Eversource Energy Trading Up 0.9%

ES traded up $0.60 on Friday, reaching $65.65. 2,168,881 shares of the company's stock were exchanged, compared to its average volume of 2,362,623. The company's 50 day moving average is $65.15 and its 200-day moving average is $62.72. The company has a market cap of $24.37 billion, a price-to-earnings ratio of 28.18, a PEG ratio of 2.44 and a beta of 0.64. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $68.73. 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 posted its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. The firm 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%. The company's revenue was up 12.0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Equities analysts predict that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be given a $0.7525 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $3.01 annualized dividend and a yield of 4.6%. Eversource Energy's dividend payout ratio (DPR) is 129.18%.

Insider Transactions at Eversource Energy

In other news, insider Loretta D. Keane acquired 3,780 shares of the stock in a transaction on Friday, August 22nd. The stock was bought at an average price of $66.07 per share, with a total value of $249,744.60. Following the completion of the transaction, the insider directly 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 SEC, which can be accessed through the SEC website. 0.41% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have issued reports on ES. Bank of America upped 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. Mizuho upped 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. Three equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently 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.