Janney Montgomery Scott LLC Sells 3,190 Shares of Eversource Energy $ES

Janney Montgomery Scott LLC trimmed its stake in shares of Eversource Energy (NYSE:ES) by 1.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 225,363 shares of the utilities provider’s stock after selling 3,190 shares during the quarter. Janney Montgomery Scott LLC owned about 0.06% of Eversource Energy worth $14,338,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ES. Vanguard Group Inc. boosted its position in shares of 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 period. Wellington Management Group LLP boosted its position in shares of Eversource Energy by 4.5% in 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 acquiring an additional 739,448 shares during the period. Magellan Asset Management Ltd boosted its position in shares of 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 valued at $427,090,000 after acquiring an additional 401,866 shares during the period. Invesco Ltd. boosted its position in shares of Eversource Energy by 0.5% in the first quarter. Invesco Ltd. now owns 6,036,393 shares of the utilities provider’s stock valued at $374,920,000 after acquiring an additional 32,304 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in shares of Eversource Energy by 3.4% in the first 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 acquiring an additional 185,146 shares during the period. 79.99% of the stock is owned by institutional investors.

Insider Buying and Selling at Eversource Energy

In other news, insider Loretta D. Keane purchased 3,780 shares of Eversource Energy 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 completion of the acquisition, 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

ES has been the subject of a number of recent research reports. Mizuho boosted their target price 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. Bank of America boosted their price target on Eversource Energy from $62.00 to $67.00 and gave the company a “neutral” rating in a research note on Monday, July 21st. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eversource Energy in a research note on Saturday, September 27th. Three research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and an average target price of $64.38.

Eversource Energy Stock Performance

NYSE:ES opened at $72.52 on Friday. The stock has a market cap of $26.91 billion, a P/E ratio of 31.12, a price-to-earnings-growth ratio of 2.70 and a beta of 0.67. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. The stock’s 50-day moving average is $66.00 and its 200-day moving average is $63.48. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $73.48.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.95 by $0.01. The company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The business’s quarterly revenue was up 12.0% compared to the same quarter last year. During the same period in the previous year, the business posted $0.95 earnings per share. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Equities research analysts anticipate 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 was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a dividend of $0.7525 per share. This represents a $3.01 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s payout ratio is 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.