Turning Point Benefit Group Inc. Buys New Position in Eversource Energy $ES

Key Points

• Turning Point Benefit Group Inc. acquired 4,407 shares of Eversource Energy valued at approximately $280,000 during the second quarter, marking the company's new position in the stock.
• Institutional ownership of Eversource Energy is significant, with investors like Vanguard Group Inc. and Allianz Asset Management GmbH increasing their holdings substantially, contributing to a total institutional ownership of nearly 80%.
• Analysts have varying views on Eversource Energy's stock, with price targets ranging from $54 to $85, highlighting differing expectations regarding the company's future performance.

Turning Point Benefit Group Inc. purchased a new position in shares of Eversource Energy (NYSE:ES - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm purchased 4,407 shares of the utilities provider's stock, valued at approximately $280,000.

A number of other institutional investors have also made changes to their positions in the business. Nuveen LLC acquired a new position in shares of Eversource Energy during the 1st quarter worth about $286,130,000. Wellington Management Group LLP raised its holdings in Eversource Energy by 4.5% during the first quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider's stock worth $1,068,901,000 after acquiring an additional 739,448 shares in the last quarter. Magellan Asset Management Ltd raised its stake in shares of 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 worth $427,090,000 after purchasing an additional 401,866 shares in the last quarter. Vanguard Group Inc. boosted its holdings in shares of Eversource Energy by 0.8% in 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 buying an additional 351,780 shares during the last quarter. Finally, Allianz Asset Management GmbH grew its stake in shares of Eversource Energy by 244.5% in the second quarter. Allianz Asset Management GmbH now owns 373,788 shares of the utilities provider's stock valued at $23,780,000 after buying an additional 265,290 shares in the last quarter. Institutional investors own 79.99% of the company's stock.

Insider Buying and Selling at Eversource Energy

In related news, insider Loretta D. Keane purchased 3,780 shares of the firm's stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the transaction, the insider 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 document filed with the SEC, which is available through this link. Insiders own 0.41% of the company's stock.

Eversource Energy Stock Up 0.8%

ES stock opened at $73.73 on Thursday. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $74.50. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. The stock has a market capitalization of $27.36 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 2.85 and a beta of 0.67. The business's fifty day moving average price is $67.70 and its two-hundred day moving average price is $64.50.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 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 period in the prior year, the company posted $0.95 earnings per share. Eversource Energy's 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. On average, equities analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Dividend Announcement

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

Analysts Set New Price Targets

ES has been the topic of several analyst reports. Jefferies Financial Group upped their price target on shares of Eversource Energy from $54.00 to $60.00 and gave the stock an "underperform" rating in a research report on Wednesday. Bank of America upgraded shares of Eversource Energy from a "neutral" rating to a "buy" rating and raised their target price for the company from $73.00 to $85.00 in a research note on Tuesday. Janney Montgomery Scott reissued a "neutral" rating on shares of Eversource Energy in a research report on Monday, October 13th. Weiss Ratings restated a "hold (c)" rating on shares of Eversource Energy in a research note on Wednesday, October 8th. Finally, TD Cowen initiated coverage on Eversource Energy in a research report on Thursday, October 16th. They issued a "hold" rating and a $76.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $69.11.

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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