Ballentine Partners LLC Sells 332 Shares of Eversource Energy $ES

Ballentine Partners LLC reduced its holdings in shares of Eversource Energy (NYSE:ES) by 5.6% during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 5,602 shares of the utilities provider’s stock after selling 332 shares during the period. Ballentine Partners LLC’s holdings in Eversource Energy were worth $356,000 at the end of the most recent reporting period.

Several other institutional investors have also made changes to their positions in ES. Revisor Wealth Management LLC boosted its position in Eversource Energy by 106.8% in the second quarter. Revisor Wealth Management LLC now owns 8,205 shares of the utilities provider’s stock valued at $542,000 after buying an additional 4,238 shares in the last quarter. GAMMA Investing LLC boosted its position in Eversource Energy by 47.4% in the second quarter. GAMMA Investing LLC now owns 10,068 shares of the utilities provider’s stock valued at $641,000 after buying an additional 3,237 shares in the last quarter. U.S. Capital Wealth Advisors LLC raised its stake in shares of Eversource Energy by 5.5% in the second quarter. U.S. Capital Wealth Advisors LLC now owns 166,616 shares of the utilities provider’s stock worth $10,600,000 after acquiring an additional 8,722 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of Eversource Energy by 5.4% in the second quarter. Park Avenue Securities LLC now owns 15,560 shares of the utilities provider’s stock worth $990,000 after acquiring an additional 804 shares during the last quarter. Finally, CX Institutional raised its stake in shares of Eversource Energy by 10.5% in the second quarter. CX Institutional now owns 2,890 shares of the utilities provider’s stock worth $184,000 after acquiring an additional 275 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. Bank of America boosted their target price on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a “neutral” rating in a research note on Monday, July 21st. Mizuho boosted their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 25th. Three investment 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’s stock. According to MarketBeat.com, Eversource Energy currently has a consensus rating of “Hold” and an average target price of $64.38.

Insider Buying and Selling

In other news, insider Loretta D. Keane purchased 3,780 shares of the business’s stock in a transaction on Friday, August 22nd. The stock was purchased at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the purchase, the insider directly owned 12,033 shares in the company, valued at $795,020.31. The trade was a 45.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Eversource Energy Stock Up 1.9%

Shares of NYSE:ES opened at $69.80 on Monday. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.97. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71. The company has a market capitalization of $25.90 billion, a PE ratio of 29.96, a PEG ratio of 2.62 and a beta of 0.64. The company has a 50 day moving average price of $65.48 and a two-hundred day moving average price of $63.16.

Eversource Energy (NYSE:ES) last issued its quarterly earnings data 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 the consensus estimate of $3.01 billion. During the same quarter in the prior year, the firm earned $0.95 earnings per share. The firm’s 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. Analysts forecast that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd will be paid a $0.7525 dividend. The ex-dividend date is Monday, September 22nd. This represents a $3.01 dividend on an annualized basis and a yield of 4.3%. Eversource Energy’s dividend payout ratio (DPR) is currently 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.