Concurrent Investment Advisors LLC Takes $210,000 Position in Eversource Energy $ES

Concurrent Investment Advisors LLC purchased a new stake in shares of Eversource Energy (NYSE:ES) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 3,304 shares of the utilities provider’s stock, valued at approximately $210,000.

A number of other large investors also recently bought and sold shares of the stock. PDS Planning Inc lifted its position in Eversource Energy by 4.7% in the second quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock valued at $244,000 after buying an additional 173 shares during the last quarter. Thrive Wealth Management LLC lifted its position in Eversource Energy by 3.6% in the second quarter. Thrive Wealth Management LLC now owns 5,445 shares of the utilities provider’s stock valued at $346,000 after buying an additional 189 shares during the last quarter. Penobscot Investment Management Company Inc. lifted its position in Eversource Energy by 1.4% in the second quarter. Penobscot Investment Management Company Inc. now owns 14,418 shares of the utilities provider’s stock valued at $917,000 after buying an additional 195 shares during the last quarter. Capital Investment Advisors LLC lifted its position in Eversource Energy by 0.8% in the second quarter. Capital Investment Advisors LLC now owns 26,467 shares of the utilities provider’s stock valued at $1,684,000 after buying an additional 210 shares during the last quarter. Finally, Cromwell Holdings LLC lifted its position in Eversource Energy by 25.7% in the second quarter. Cromwell Holdings LLC now owns 1,042 shares of the utilities provider’s stock valued at $66,000 after buying an additional 213 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ES shares. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Eversource Energy in a research report on Monday, October 13th. TD Cowen started coverage on shares of Eversource Energy in a research report on Thursday, October 16th. They issued a “hold” rating and a $76.00 target price on the stock. Bank of America boosted their price target 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 price target 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. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of Eversource Energy in a research note on Wednesday, October 8th. Three investment analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have given a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $65.67.

Insider Buying and Selling at Eversource Energy

In related news, insider Loretta D. Keane purchased 3,780 shares of the company’s stock in a transaction on 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 purchase, the insider directly owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. This trade represents a 45.80% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

Eversource Energy Stock Up 0.5%

ES stock opened at $72.92 on Tuesday. The company’s 50 day moving average price is $67.42 and its 200 day moving average price is $64.38. 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 fifty-two week low of $52.28 and a fifty-two week high of $74.46. The firm has a market capitalization of $27.06 billion, a price-to-earnings ratio of 31.30, a PEG ratio of 2.82 and a beta of 0.67.

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 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 analyst estimates of $3.01 billion. During the same period in the prior year, the firm earned $0.95 earnings per share. The business’s quarterly 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. On average, equities research analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.1%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s dividend payout ratio is presently 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.