Public Employees Retirement System of Ohio Increases Stake in Eversource Energy $ES

Public Employees Retirement System of Ohio grew its stake in shares of Eversource Energy (NYSE:ES) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 114,068 shares of the utilities provider’s stock after acquiring an additional 1,077 shares during the period. Public Employees Retirement System of Ohio’s holdings in Eversource Energy were worth $7,257,000 at the end of the most recent reporting period.

Other large investors have also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Eversource Energy by 0.8% in the first quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider’s stock valued at $2,792,559,000 after acquiring an additional 351,780 shares during the last quarter. Wellington Management Group LLP increased its position in shares of Eversource Energy by 4.5% during the first quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider’s stock valued at $1,068,901,000 after buying an additional 739,448 shares during the period. Magellan Asset Management Ltd raised its holdings in Eversource Energy by 6.2% in the first quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider’s stock worth $427,090,000 after purchasing an additional 401,866 shares in the last quarter. Invesco Ltd. boosted its position in shares of Eversource Energy by 0.5% in the 1st quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider’s stock worth $374,920,000 after purchasing an additional 32,304 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Eversource Energy by 3.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,702,415 shares of the utilities provider’s stock valued at $354,177,000 after purchasing an additional 185,146 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Up 1.9%

Shares of ES stock opened at $69.80 on Monday. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.97. The stock has a market capitalization of $25.90 billion, a price-to-earnings ratio of 29.96, a price-to-earnings-growth ratio of 2.62 and a beta of 0.64. The stock’s 50-day moving average price is $65.48 and its 200-day moving average price is $63.16. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67.

Eversource Energy (NYSE:ES) last posted 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 net margin of 6.60% and a return on equity of 11.00%. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the firm posted $0.95 EPS. The business’s quarterly revenue was up 12.0% on a year-over-year basis. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Equities research analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced 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 presently 129.18%.

Insider Activity at Eversource Energy

In related news, insider Loretta D. Keane purchased 3,780 shares of the firm’s stock in a transaction dated Friday, August 22nd. The stock was purchased at an average price of $66.07 per share, with a total value of $249,744.60. Following the completion of the purchase, the insider owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. The trade was a 45.80% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ES shares. Mizuho boosted their target price on Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 25th. Bank of America raised their price objective 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 analysts have rated the stock with a Buy rating, three have assigned a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $64.38.

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.