Eversource Energy (NYSE:ES) Sets New 52-Week High – Should You Buy?

Eversource Energy (NYSE:ES)’s share price reached a new 52-week high during trading on Saturday . The company traded as high as $69.47 and last traded at $67.01, with a volume of 13697735 shares. The stock had previously closed at $63.88.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Mizuho lifted their price objective on Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 25th. Bank of America lifted their price objective 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 equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $64.38.

Eversource Energy Trading Up 4.9%

The firm has a market capitalization of $24.87 billion, a price-to-earnings ratio of 28.76, a P/E/G ratio of 2.52 and a beta of 0.64. The business has a 50-day moving average of $65.10 and a two-hundred day moving average of $62.86. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67.

Eversource Energy (NYSE:ES) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The business had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period last year, the business earned $0.95 earnings per share. The firm’s revenue for the quarter 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. Research analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal 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 paid a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.5%. The ex-dividend date is Monday, September 22nd. Eversource Energy’s dividend payout ratio is currently 129.18%.

Insider Buying and Selling at Eversource Energy

In related news, insider Loretta D. Keane acquired 3,780 shares of the stock in a transaction dated Friday, August 22nd. The shares were bought at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the purchase, the insider owned 12,033 shares in the company, valued at approximately $795,020.31. This trade represents a 45.80% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of ES. Tidal Investments LLC boosted its holdings in shares of Eversource Energy by 49.2% in the 4th quarter. Tidal Investments LLC now owns 20,663 shares of the utilities provider’s stock worth $1,187,000 after acquiring an additional 6,814 shares in the last quarter. Two Sigma Advisers LP boosted its holdings in shares of Eversource Energy by 1,079.0% in the 4th quarter. Two Sigma Advisers LP now owns 95,500 shares of the utilities provider’s stock worth $5,485,000 after acquiring an additional 87,400 shares in the last quarter. Woodline Partners LP acquired a new position in shares of Eversource Energy in the 4th quarter worth approximately $1,264,000. Pinney & Scofield Inc. acquired a new position in shares of Eversource Energy in the 4th quarter worth approximately $33,000. Finally, Toronto Dominion Bank boosted its holdings in shares of Eversource Energy by 3.2% in the 4th quarter. Toronto Dominion Bank now owns 197,922 shares of the utilities provider’s stock worth $11,367,000 after acquiring an additional 6,114 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

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.