Geneos Wealth Management Inc. Buys 314 Shares of Eversource Energy $ES

Geneos Wealth Management Inc. lifted its stake in shares of Eversource Energy (NYSE:ES) by 21.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,811 shares of the utilities provider’s stock after acquiring an additional 314 shares during the period. Geneos Wealth Management Inc.’s holdings in Eversource Energy were worth $112,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Belpointe Asset Management LLC boosted its holdings in Eversource Energy by 4.2% during the first quarter. Belpointe Asset Management LLC now owns 6,993 shares of the utilities provider’s stock worth $434,000 after purchasing an additional 284 shares during the last quarter. Flaharty Asset Management LLC acquired a new position in Eversource Energy during the first quarter worth $92,000. Integrity Alliance LLC. acquired a new position in Eversource Energy during the first quarter worth $280,000. Ransom Advisory Ltd acquired a new position in Eversource Energy during the first quarter worth $78,000. Finally, Glenview Trust co boosted its holdings in Eversource Energy by 9.1% during the first quarter. Glenview Trust co now owns 8,577 shares of the utilities provider’s stock worth $533,000 after purchasing an additional 718 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on ES. Mizuho increased their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, June 25th. Bank of America increased their target price on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat, Eversource Energy presently has an average rating of “Hold” and a consensus price target of $64.38.

Insider Buying and Selling at Eversource Energy

In related news, insider Loretta D. Keane acquired 3,780 shares of the company’s stock in a transaction dated Friday, August 22nd. The shares were bought at an average cost of $66.07 per share, with a total value of $249,744.60. Following the completion of the transaction, the insider directly owned 12,033 shares of the company’s stock, valued at $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.41% of the stock is owned by insiders.

Eversource Energy Stock Performance

Shares of ES stock opened at $63.28 on Thursday. The stock has a market cap of $23.48 billion, a P/E ratio of 27.16, a P/E/G ratio of 2.38 and a beta of 0.64. 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 company has a fifty day moving average price of $65.12 and a two-hundred day moving average price of $62.75. Eversource Energy has a one year low of $52.28 and a one year high of $68.17.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. The firm had revenue of $2.84 billion during 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%. The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same quarter last year, the company posted $0.95 earnings per share. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. As a group, equities analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

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 given a $0.7525 dividend. The ex-dividend date of this dividend is Monday, September 22nd. This represents a $3.01 annualized dividend and a dividend yield of 4.8%. Eversource Energy’s dividend payout ratio is presently 129.18%.

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.