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Sagespring Wealth Partners LLC Makes New Investment in Eversource Energy $ES

Eversource Energy logo with Utilities background

Key Points

  • Sagespring Wealth Partners LLC has made a new investment in Eversource Energy, purchasing 3,512 shares valued at approximately $223,000 during the second quarter.
  • Eversource Energy reported a quarterly EPS of $0.96, exceeding analysts’ expectations of $0.95, with quarterly revenue of $2.84 billion, which was below expected revenue of $3.01 billion.
  • The company recently announced a quarterly dividend of $0.7525 per share, reflecting an annual yield of 4.2%, and has a high dividend payout ratio of 129.18%.
  • MarketBeat previews the top five stocks to own by November 1st.

Sagespring Wealth Partners LLC bought a new position in shares of Eversource Energy (NYSE:ES - Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 3,512 shares of the utilities provider's stock, valued at approximately $223,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Edmp Inc. grew its holdings in Eversource Energy by 4.8% during the 2nd quarter. Edmp Inc. now owns 25,398 shares of the utilities provider's stock worth $1,616,000 after acquiring an additional 1,171 shares in the last quarter. NorthRock Partners LLC grew its holdings in Eversource Energy by 10.5% during the 2nd quarter. NorthRock Partners LLC now owns 9,155 shares of the utilities provider's stock worth $582,000 after acquiring an additional 872 shares in the last quarter. MGO One Seven LLC bought a new position in Eversource Energy during the 2nd quarter worth about $292,000. CWM LLC grew its holdings in Eversource Energy by 3.0% during the 2nd quarter. CWM LLC now owns 42,484 shares of the utilities provider's stock worth $2,703,000 after acquiring an additional 1,227 shares in the last quarter. Finally, Concurrent Investment Advisors LLC bought a new position in Eversource Energy during the 2nd quarter worth about $210,000. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Stock Up 1.6%

NYSE:ES opened at $72.52 on Friday. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $74.46. The stock has a market capitalization of $26.91 billion, a P/E ratio of 31.12, a P/E/G ratio of 2.83 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. The company's 50-day simple moving average is $67.27 and its 200-day simple moving average is $64.26.

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. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The company had revenue of $2.84 billion during the quarter, compared to analysts' expectations of $3.01 billion. During the same period last year, the business earned $0.95 EPS. Eversource Energy's revenue for the quarter was up 12.0% on a year-over-year basis. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, equities analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently announced 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 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 129.18%.

Insider Buying and Selling

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

Analyst Ratings Changes

Several brokerages have issued reports on ES. Weiss Ratings reiterated a "hold (c)" rating on shares of Eversource Energy in a report on Wednesday, October 8th. Janney Montgomery Scott reiterated a "neutral" rating on shares of Eversource Energy in a report on Monday, October 13th. 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. Finally, TD Cowen initiated coverage on shares of Eversource Energy in a report on Thursday. They issued a "hold" rating and a $76.00 price target on the stock. Three research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus price target of $65.67.

Read Our Latest Stock Report on ES

Eversource Energy Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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