US Bancorp DE Decreases Stock Position in Eversource Energy $ES

US Bancorp DE cut its holdings in Eversource Energy (NYSE:ES) by 3.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 33,950 shares of the utilities provider’s stock after selling 1,106 shares during the quarter. US Bancorp DE’s holdings in Eversource Energy were worth $2,160,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Nuveen LLC acquired a new position in Eversource Energy in the first quarter valued at approximately $286,130,000. Wellington Management Group LLP lifted its holdings in 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 lifted 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 valued at $427,090,000 after acquiring an additional 401,866 shares during the period. Vanguard Group Inc. lifted its holdings 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 period. Finally, Northern Trust Corp lifted its holdings in Eversource Energy by 6.5% in the first quarter. Northern Trust Corp now owns 3,939,023 shares of the utilities provider’s stock valued at $244,653,000 after acquiring an additional 239,440 shares during the period. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have issued reports on ES. Janney Montgomery Scott reissued a “neutral” rating on shares of Eversource Energy in a report on Monday. Weiss Ratings restated a “hold (c)” rating on shares of Eversource Energy in a research report on Wednesday, October 8th. Bank of America boosted their price objective on Eversource Energy from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Finally, Mizuho boosted their price objective on Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, June 25th. Three research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $64.38.

Eversource Energy Stock Up 2.3%

Shares of ES opened at $72.21 on Thursday. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71. Eversource Energy has a one year low of $52.28 and a one year high of $74.46. The stock has a market capitalization of $26.80 billion, a price-to-earnings ratio of 30.99, a PEG ratio of 2.75 and a beta of 0.67. The stock has a 50 day moving average price of $67.01 and a 200 day moving average price of $64.11.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, topping the consensus estimate of $0.95 by $0.01. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $3.01 billion. During the same period in the previous year, the business earned $0.95 earnings per share. The firm’s revenue for the quarter 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 forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a dividend of $0.7525 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.01 dividend on an annualized basis and a yield of 4.2%. Eversource Energy’s payout ratio is 129.18%.

Insiders Place Their Bets

In related news, insider Loretta D. Keane acquired 3,780 shares of the stock in a transaction on Friday, August 22nd. The shares were bought 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. This 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.

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.