Synergy Asset Management LLC Takes Position in Eversource Energy $ES

Key Points

• Synergy Asset Management LLC acquired 41,351 shares of Eversource Energy valued at approximately $2.63 million during the second quarter.
• Eversource Energy recently announced a quarterly dividend of $0.7525 per share, yielding 4.2%, with a payout ratio of 129.18%.
• Analysts have mixed ratings on Eversource Energy, with three giving a Buy rating and three assigning a Sell rating, leading to an average price target of $64.38.

Synergy Asset Management LLC acquired a new stake in Eversource Energy (NYSE:ES - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 41,351 shares of the utilities provider's stock, valued at approximately $2,631,000.

Other hedge funds have also modified their holdings of the company. Thrive Wealth Management LLC raised its stake in Eversource Energy by 3.6% in the second quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider's stock valued at $346,000 after buying an additional 189 shares in the last quarter. Sterling Investment Counsel LLC raised its stake in Eversource Energy by 4.9% in the first quarter. Sterling Investment Counsel LLC now owns 4,100 shares of the utilities provider's stock valued at $255,000 after buying an additional 190 shares in the last quarter. Capital Investment Advisors LLC raised its stake in Eversource Energy by 0.8% in the second quarter. Capital Investment Advisors LLC now owns 26,467 shares of the utilities provider's stock valued at $1,684,000 after buying an additional 210 shares in the last quarter. Cromwell Holdings LLC raised its stake in Eversource Energy by 25.7% in the second quarter. Cromwell Holdings LLC now owns 1,042 shares of the utilities provider's stock valued at $66,000 after buying an additional 213 shares in the last quarter. Finally, Plato Investment Management Ltd raised its stake in Eversource Energy by 0.4% in the first quarter. Plato Investment Management Ltd now owns 55,939 shares of the utilities provider's stock valued at $3,512,000 after buying an additional 215 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of the stock in a transaction 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 of the company's stock, valued at $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.41% of the company's stock.

Eversource Energy Stock Performance

NYSE ES opened at $71.78 on Friday. 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 $71.99. The business's 50-day moving average price is $65.89 and its 200 day moving average price is $63.40. The firm has a market cap of $26.64 billion, a P/E ratio of 30.81, a P/E/G ratio of 2.69 and a beta of 0.67.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly 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. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same quarter last year, the company posted $0.95 earnings per share. The business's revenue 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 research analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.2%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy's payout ratio is currently 129.18%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on ES shares. Mizuho raised their price target 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 raised their price objective on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. 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 company's stock. According to MarketBeat.com, the company presently has an average 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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