United Services Automobile Association Purchases Shares of 8,502 Eversource Energy $ES

Key Points

• United Services Automobile Association has invested approximately $520,000 in Eversource Energy by acquiring 8,502 shares in the first quarter.
• Eversource Energy's stock experienced a 12.0% year-over-year revenue increase, reporting $2.84 billion in revenue but falling short of the $3.01 billion consensus estimate.
• Analysts have mixed ratings on Eversource Energy's stock, with a consensus of "Hold" and an average target price of $64.38.

United Services Automobile Association bought a new position in shares of Eversource Energy (NYSE:ES - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 8,502 shares of the utilities provider's stock, valued at approximately $520,000.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Pinney & Scofield Inc. acquired a new position in shares of Eversource Energy during the 4th quarter valued at $33,000. Rossby Financial LCC acquired a new position in Eversource Energy during the first quarter worth about $34,000. CoreCap Advisors LLC raised its position in Eversource Energy by 168.7% in the fourth quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock worth $35,000 after acquiring an additional 383 shares in the last quarter. First Financial Corp IN lifted its holdings in Eversource Energy by 3,529.4% in the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock valued at $38,000 after acquiring an additional 600 shares during the last quarter. Finally, Zions Bancorporation National Association UT bought a new stake in shares of Eversource Energy in the 1st quarter worth approximately $46,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Eversource Energy

In related news, insider Loretta D. Keane bought 3,780 shares of Eversource Energy stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the acquisition, the insider owned 12,033 shares in the company, valued at $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.41% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on ES. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Bank of America lifted their target price on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a report on Monday, July 21st. Finally, Mizuho upped their target price on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Three research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $64.38.

Eversource Energy Stock Up 0.9%

Shares of Eversource Energy stock traded up $0.60 during midday trading on Friday, hitting $65.65. The company's stock had a trading volume of 2,168,881 shares, compared to its average volume of 2,362,623. The firm has a market capitalization of $24.37 billion, a P/E ratio of 28.18, a PEG ratio of 2.44 and a beta of 0.64. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $68.73. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. The stock has a 50-day simple moving average of $65.15 and a 200-day simple moving average of $62.73.

Eversource Energy (NYSE:ES - Get Free Report) last posted 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. The business 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%. Eversource Energy's revenue was up 12.0% on a year-over-year basis. During the same period in the previous year, the company posted $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. As a group, sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd will be issued a dividend of $0.7525 per share. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.6%. Eversource Energy's dividend payout ratio is currently 129.18%.

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.