Stonebridge Financial Group LLC Has $1.59 Million Stock Position in Eversource Energy $ES

Stonebridge Financial Group LLC raised its holdings in Eversource Energy (NYSE:ES) by 2.2% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 24,961 shares of the utilities provider’s stock after buying an additional 536 shares during the quarter. Stonebridge Financial Group LLC’s holdings in Eversource Energy were worth $1,588,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Hilltop National Bank bought a new stake in shares of Eversource Energy in the 2nd quarter worth approximately $32,000. Rossby Financial LCC bought a new stake in shares of Eversource Energy in the 1st quarter worth approximately $34,000. Zions Bancorporation National Association UT bought a new stake in shares of Eversource Energy in the 1st quarter worth approximately $46,000. Golden State Wealth Management LLC lifted its position in shares of Eversource Energy by 233.9% in the 1st quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider’s stock worth $52,000 after acquiring an additional 580 shares during the period. Finally, Cromwell Holdings LLC lifted its position in shares of Eversource Energy by 44.2% in the 1st quarter. Cromwell Holdings LLC now owns 829 shares of the utilities provider’s stock worth $51,000 after acquiring an additional 254 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Insiders Place Their Bets

In other Eversource Energy news, insider Loretta D. Keane purchased 3,780 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was purchased at an average cost of $66.07 per share, with a total value of $249,744.60. Following the acquisition, 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 acquisition was disclosed in a filing with the SEC, which is available through this link. 0.41% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on ES. Bank of America raised their price objective on Eversource Energy from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Weiss Ratings restated a “hold (c)” rating on shares of Eversource Energy in a research report on Wednesday. Finally, Mizuho raised 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. Three equities research analysts have rated the stock with a Buy rating, four have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $64.38.

Eversource Energy Price Performance

Eversource Energy stock opened at $72.38 on Friday. The business has a 50 day simple moving average of $66.56 and a 200 day simple moving average of $63.80. Eversource Energy has a one year low of $52.28 and a one year high of $74.46. The company has a market capitalization of $26.86 billion, a PE ratio of 31.06, a price-to-earnings-growth ratio of 2.76 and a beta of 0.67. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63.

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, beating analysts’ consensus estimates 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 last year, the firm posted $0.95 EPS. The business’s 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. On average, sell-side analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

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

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.