United Asset Strategies Inc. Purchases Shares of 14,058 Eversource Energy $ES

Key Points

• United Asset Strategies Inc. has invested approximately $873,000 in Eversource Energy by acquiring 14,058 shares during the first quarter.
• Several institutional investors, including Sterling Investment Counsel and Advisor OS, have also increased their stakes in Eversource Energy, which is now 79.99% owned by institutional investors.
• Eversource Energy reported a net margin of 6.60% for its latest earnings, with revenue of $2.84 billion falling short of the consensus estimate of $3.01 billion.

United Asset Strategies Inc. purchased a new position in Eversource Energy (NYSE:ES - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 14,058 shares of the utilities provider's stock, valued at approximately $873,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. EntryPoint Capital LLC acquired a new stake in shares of Eversource Energy in the first quarter worth about $313,000. Credit Agricole S A lifted its position in shares of Eversource Energy by 6.5% in the first quarter. Credit Agricole S A now owns 140,243 shares of the utilities provider's stock worth $8,710,000 after buying an additional 8,555 shares during the last quarter. Banco Bilbao Vizcaya Argentaria S.A. lifted its position in shares of Eversource Energy by 248.3% in the first quarter. Banco Bilbao Vizcaya Argentaria S.A. now owns 29,912 shares of the utilities provider's stock worth $1,848,000 after buying an additional 21,325 shares during the last quarter. Groupama Asset Managment lifted its position in shares of Eversource Energy by 6.1% in the first quarter. Groupama Asset Managment now owns 30,185 shares of the utilities provider's stock worth $1,845,000 after buying an additional 1,728 shares during the last quarter. Finally, Van Lanschot Kempen Investment Management N.V. acquired a new stake in shares of Eversource Energy in the first quarter worth about $7,432,000. Institutional investors and hedge funds own 79.99% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on ES. Mizuho upped 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. Bank of America upped 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. BMO Capital Markets upped their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a report on Monday, April 28th. Finally, Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a report on Friday, May 16th. Three 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. Based on data from MarketBeat, Eversource Energy currently has an average rating of "Hold" and an average target price of $64.38.

Eversource Energy Stock Performance

ES traded up $1.0750 on Friday, hitting $66.4950. 1,526,442 shares of the stock traded hands, compared to its average volume of 2,013,039. The firm has a market capitalization of $24.68 billion, a PE ratio of 28.54, a P/E/G ratio of 2.50 and a beta of 0.61. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. The business has a fifty day moving average price of $65.00 and a two-hundred day moving average price of $62.52. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last announced its quarterly earnings results 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. The firm had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The business's revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, research analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy 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.