Wealth Enhancement Advisory Services LLC Boosts Stock Holdings in Eversource Energy $ES

Key Points

• Wealth Enhancement Advisory Services LLC increased its holdings in Eversource Energy by 36.1%, now owning 64,544 shares worth approximately $4.17 million.
• Analysts have updated their price targets for Eversource Energy, with Bank of America setting it at $67.00 and Mizuho at $72.00, reflecting a mixed outlook with ratings varying from Buy to Sell.
• Eversource Energy has announced a quarterly dividend of $0.7525 per share, representing an annualized yield of 4.4% despite having a payout ratio of 129.18%.

Wealth Enhancement Advisory Services LLC raised its holdings in Eversource Energy (NYSE:ES - Free Report) by 36.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 64,544 shares of the utilities provider's stock after purchasing an additional 17,118 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Eversource Energy were worth $4,166,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Rossby Financial LCC bought a new position in shares of Eversource Energy in the first quarter valued at approximately $34,000. First Financial Corp IN boosted its position in shares of Eversource Energy by 3,529.4% in the first 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 period. Zions Bancorporation National Association UT bought a new position in shares of Eversource Energy in the first quarter valued at approximately $46,000. Golden State Wealth Management LLC boosted its position in shares of Eversource Energy by 233.9% in the first quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider's stock valued at $52,000 after acquiring an additional 580 shares during the period. Finally, Cromwell Holdings LLC boosted its position in shares of Eversource Energy by 44.2% in the first quarter. Cromwell Holdings LLC now owns 829 shares of the utilities provider's stock valued at $51,000 after acquiring an additional 254 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.

Wall Street Analysts Forecast Growth

ES has been the subject of a number of analyst reports. Bank of America raised their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research report on Monday, July 21st. Mizuho raised their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research report on Wednesday, June 25th. Three equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, Eversource Energy presently has an average rating of "Hold" and an average price target of $64.38.

Eversource Energy Stock Down 0.8%

Shares of NYSE:ES opened at $68.54 on Friday. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $69.64. The firm has a fifty day moving average of $65.40 and a 200 day moving average of $63.05. The firm has a market capitalization of $25.44 billion, a PE ratio of 29.42, a price-to-earnings-growth ratio of 2.60 and a beta of 0.64. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71.

Eversource Energy (NYSE:ES - Get Free Report) last announced its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping 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 company had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the business earned $0.95 earnings per share. The firm's quarterly 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. As a group, research analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm 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 $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.4%. The ex-dividend date is Monday, September 22nd. Eversource Energy's payout ratio is presently 129.18%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of the stock in a transaction dated 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. The trade was a 45.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 0.41% of the company's stock.

About Eversource Energy

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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