ORG Wealth Partners LLC Boosts Stock Holdings in Eversource Energy $ES

Key Points

• ORG Wealth Partners LLC increased its stake in Eversource Energy by 217.3%, owning 7,545 shares worth approximately $487,000 after acquiring 5,167 additional shares.
• Analysts have raised their price targets for Eversource Energy, with Bank of America setting a new target at $67.00 and Mizuho at $72.00, while the stock currently holds an average price target of $64.38.
• Eversource Energy announced a quarterly dividend of $0.7525, with an annualized dividend yield of 4.3%, reflecting a higher than usual payout ratio of 129.18%.

ORG Wealth Partners LLC raised its holdings in shares of Eversource Energy (NYSE:ES - Free Report) by 217.3% during the second quarter, according to its most recent filing with the SEC. The firm owned 7,545 shares of the utilities provider's stock after purchasing an additional 5,167 shares during the period. ORG Wealth Partners LLC's holdings in Eversource Energy were worth $487,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. increased its position in 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 purchasing an additional 351,780 shares during the period. Wellington Management Group LLP increased its position in 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 purchasing an additional 739,448 shares during the period. Magellan Asset Management Ltd increased its position in 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 purchasing an additional 401,866 shares during the period. Invesco Ltd. increased its position in Eversource Energy by 0.5% during the 1st quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider's stock valued at $374,920,000 after purchasing an additional 32,304 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Eversource Energy by 3.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,702,415 shares of the utilities provider's stock valued at $354,177,000 after purchasing an additional 185,146 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on ES. Bank of America raised their price target 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 raised 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. Three analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $64.38.

Eversource Energy Stock Up 1.9%

ES stock opened at $69.80 on Friday. The firm has a 50 day moving average of $65.48 and a 200 day moving average of $63.11. The stock has a market capitalization of $25.90 billion, a PE ratio of 29.96, a price-to-earnings-growth ratio of 2.57 and a beta of 0.64. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.97.

Eversource Energy (NYSE:ES - Get Free Report) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, topping 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%. Eversource Energy's revenue for the quarter was up 12.0% on a year-over-year basis. During the same period last year, the business earned $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Sell-side analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Investors of record on Monday, September 22nd will be paid a $0.7525 dividend. The ex-dividend date is Monday, September 22nd. This represents a $3.01 dividend on an annualized basis and a yield of 4.3%. Eversource Energy's dividend payout ratio (DPR) is 129.18%.

Insider Buying and Selling

In related news, insider Loretta D. Keane bought 3,780 shares of the stock in a transaction that occurred on Friday, August 22nd. The stock was bought at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the purchase, the insider directly owned 12,033 shares of the company's stock, valued at approximately $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.41% of the stock is owned by company insiders.

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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