Voleon Capital Management LP Buys Shares of 12,022 Eversource Energy $ES

Key Points

• Voleon Capital Management LP acquired a new stake in Eversource Energy, purchasing 12,022 shares valued at approximately $747,000 in the first quarter.
• Eversource Energy reported $0.96 earnings per share for the last quarter, exceeding analysts' expectations, but its revenue of $2.84 billion fell short of the consensus estimate of $3.01 billion.
• The company has adjusted its FY 2025 EPS guidance to a range of 4.670-4.820, with analysts forecasting a 4.75 EPS for the current fiscal year.

Voleon Capital Management LP purchased 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 SEC. The fund purchased 12,022 shares of the utilities provider's stock, valued at approximately $747,000.

Other large investors have also added to or reduced their stakes in the company. Pinney & Scofield Inc. purchased a new stake in Eversource Energy during the 4th quarter valued at about $33,000. Rossby Financial LCC purchased a new stake in Eversource Energy during the 1st quarter valued at about $34,000. CoreCap Advisors LLC grew its stake in Eversource Energy by 168.7% during the 4th quarter. CoreCap Advisors LLC now owns 610 shares of the utilities provider's stock valued at $35,000 after purchasing an additional 383 shares during the last quarter. First Financial Corp IN grew its stake in Eversource Energy by 3,529.4% during the 1st quarter. First Financial Corp IN now owns 617 shares of the utilities provider's stock valued at $38,000 after purchasing an additional 600 shares during the last quarter. Finally, Zions Bancorporation National Association UT purchased a new stake in Eversource Energy during the 1st quarter valued at about $46,000. Hedge funds and other institutional investors own 79.99% of the company's stock.

Insider Transactions at Eversource Energy

In other news, insider Loretta D. Keane bought 3,780 shares of Eversource Energy stock in a transaction on Friday, August 22nd. The stock was acquired at an average price of $66.07 per share, with a total value of $249,744.60. Following the completion of the acquisition, the insider directly owned 12,033 shares of the company's stock, valued at $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.19% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on ES. Mizuho boosted 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 upped their target price on Eversource Energy from $62.00 to $67.00 and gave the stock a "neutral" rating in a research note on Monday, July 21st. Three research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $64.38.

Eversource Energy Price Performance

ES stock traded up $0.10 during mid-day trading on Monday, reaching $65.80. 540,816 shares of the company's stock were exchanged, compared to its average volume of 2,660,364. The company has a market cap of $24.42 billion, a price-to-earnings ratio of 28.23, a price-to-earnings-growth ratio of 2.47 and a beta of 0.64. The stock's 50 day moving average is $65.15 and its 200 day moving average is $62.72. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $68.73.

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

Eversource Energy Dividend Announcement

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

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.