Strs Ohio Purchases New Stake in Eversource Energy $ES

Key Points

• Strs Ohio has acquired a new stake in Eversource Energy, buying 23,447 shares valued at approximately $1.46 million during the first quarter.
• Eversource Energy reported a quarterly earnings per share (EPS) of $0.96, slightly exceeding analysts' estimates, while also posting revenue of $2.84 billion.
• The company's quarterly dividend of $0.7525 per share reflects an annual yield of 4.7%, although its dividend payout ratio stands at a high 129.18%.

Strs Ohio acquired a new stake in shares of Eversource Energy (NYSE:ES - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 23,447 shares of the utilities provider's stock, valued at approximately $1,456,000.

Several other institutional investors have also recently made changes to their positions in ES. Ellsworth Advisors LLC acquired a new position in shares of Eversource Energy during the 1st quarter worth $852,000. Intrua Financial LLC boosted its holdings in Eversource Energy by 21.4% in the first quarter. Intrua Financial LLC now owns 8,395 shares of the utilities provider's stock worth $521,000 after acquiring an additional 1,477 shares in the last quarter. WBI Investments LLC bought a new position in shares of Eversource Energy in the first quarter valued at approximately $1,194,000. Acadian Asset Management LLC increased its position in shares of Eversource Energy by 115.1% during the first quarter. Acadian Asset Management LLC now owns 1,497 shares of the utilities provider's stock valued at $92,000 after acquiring an additional 801 shares during the last quarter. Finally, Geneos Wealth Management Inc. increased its position in Eversource Energy by 21.0% in the first quarter. Geneos Wealth Management Inc. now owns 1,811 shares of the utilities provider's stock worth $112,000 after buying an additional 314 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Mizuho lifted their price objective on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Bank of America boosted their price target on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research report on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have given a Sell rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $64.38.

Eversource Energy Trading Down 3.1%

NYSE ES opened at $63.51 on Wednesday. Eversource Energy has a one year low of $52.28 and a one year high of $68.62. 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 firm's fifty day moving average is $65.15 and its two-hundred day moving average is $62.75. The firm has a market cap of $23.57 billion, a PE ratio of 27.26, a P/E/G ratio of 2.46 and a beta of 0.64.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.95 by $0.01. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the firm posted $0.95 earnings per share. The company's quarterly revenue 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. Analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be paid a dividend of $0.7525 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $3.01 annualized dividend and a yield of 4.7%. Eversource Energy's dividend payout ratio (DPR) is presently 129.18%.

Insider Activity

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of the stock in a transaction dated 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 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.19% of the stock is owned by corporate 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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