Shell Asset Management Co. Acquires 12,046 Shares of Eversource Energy $ES

Shell Asset Management Co. increased its holdings in Eversource Energy (NYSE:ES - Free Report) by 114.9% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 22,529 shares of the utilities provider's stock after buying an additional 12,046 shares during the period. Shell Asset Management Co.'s holdings in Eversource Energy were worth $1,433,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Hilltop National Bank bought a new position in Eversource Energy in the 2nd quarter worth approximately $32,000. Rossby Financial LCC bought a new position in Eversource Energy in the 1st quarter worth approximately $34,000. Zions Bancorporation National Association UT bought a new position in Eversource Energy in the 1st quarter worth approximately $46,000. Golden State Wealth Management LLC boosted its holdings in Eversource Energy by 233.9% in the 1st quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider's stock worth $52,000 after buying an additional 580 shares during the period. Finally, Cromwell Holdings LLC lifted its stake in Eversource Energy by 44.2% in the 1st quarter. Cromwell Holdings LLC now owns 829 shares of the utilities provider's stock worth $51,000 after purchasing an additional 254 shares in the last quarter. 79.99% of the stock is owned by institutional investors.

Eversource Energy Stock Performance

Eversource Energy stock opened at $73.50 on Thursday. The firm's fifty day moving average price is $66.43 and its 200-day moving average price is $63.72. 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 stock has a market cap of $27.28 billion, a P/E ratio of 31.55, a price-to-earnings-growth ratio of 2.74 and a beta of 0.67. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week 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 the consensus estimate of $0.95 by $0.01. The firm had revenue of $2.84 billion for 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 business's quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the company posted $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, equities research analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were issued a dividend of $0.7525 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.01 annualized dividend and a dividend yield of 4.1%. Eversource Energy's dividend payout ratio (DPR) is currently 129.18%.

Insider Activity at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane bought 3,780 shares of Eversource Energy stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average price of $66.07 per share, with a total value of $249,744.60. Following the acquisition, the insider owned 12,033 shares in the company, 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 Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.41% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Mizuho increased their target price 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 increased their target price 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 reiterated a "hold (c)" rating on shares of Eversource Energy in a research note on Wednesday. Three analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average 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.

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