Eversource Energy (NYSE:ES) Hits New 1-Year High – Here’s What Happened

Eversource Energy (NYSE:ES) hit a new 52-week high during trading on Tuesday . The stock traded as high as $76.57 and last traded at $76.1970, with a volume of 529016 shares traded. The stock had previously closed at $74.69.

Analysts Set New Price Targets

A number of research firms have recently issued reports on ES. Citigroup restated a “neutral” rating and set a $81.00 price objective on shares of Eversource Energy in a research report on Monday. Bank of America reaffirmed a “buy” rating and set a $72.00 price objective on shares of Eversource Energy in a report on Wednesday, April 22nd. Wells Fargo & Company increased their target price on Eversource Energy from $75.00 to $76.00 and gave the stock an “overweight” rating in a report on Thursday, July 2nd. BMO Capital Markets reduced their price target on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. Finally, Scotiabank cut their price target on Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating for the company in a report on Tuesday, April 21st. Four investment analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have issued a Sell rating to the stock. According to data from MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and a consensus price target of $72.58.

Eversource Energy Price Performance

The stock has a market capitalization of $28.45 billion, a price-to-earnings ratio of 16.16, a P/E/G ratio of 4.95 and a beta of 0.70. The company has a fifty day simple moving average of $71.47 and a 200 day simple moving average of $70.59. The company has a debt-to-equity ratio of 1.62, a quick ratio of 0.59 and a current ratio of 0.65.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.59 by $0.14. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The firm had revenue of $4.50 billion for the quarter, compared to analysts’ expectations of $4.21 billion. During the same period in the prior year, the business earned $1.50 EPS. The company’s revenue for the quarter was up 9.4% compared to the same quarter last year. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. Equities research analysts forecast that Eversource Energy will post 4.66 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th were paid a $0.7875 dividend. The ex-dividend date of this dividend was Monday, May 18th. This represents a $3.15 annualized dividend and a dividend yield of 4.2%. Eversource Energy’s dividend payout ratio is 67.31%.

Insider Activity

In related news, VP Gregory B. Butler sold 7,000 shares of the company’s stock in a transaction on Thursday, June 4th. The stock was sold at an average price of $69.88, for a total transaction of $489,160.00. Following the completion of the sale, the vice president owned 56,179 shares in the company, valued at approximately $3,925,788.52. This represents a 11.08% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.18% of the stock is currently owned by insiders.

Institutional Trading of Eversource Energy

Several institutional investors and hedge funds have recently made changes to their positions in ES. Elevation Wealth Partners LLC boosted its holdings in Eversource Energy by 220.2% during the second quarter. Elevation Wealth Partners LLC now owns 349 shares of the utilities provider’s stock worth $25,000 after purchasing an additional 240 shares during the last quarter. Lodestone Wealth Management LLC purchased a new position in shares of Eversource Energy in the 4th quarter worth approximately $25,000. Activest Wealth Management grew its holdings in shares of Eversource Energy by 2,337.5% in the fourth quarter. Activest Wealth Management now owns 390 shares of the utilities provider’s stock valued at $26,000 after acquiring an additional 374 shares in the last quarter. TFC Financial Management Inc. lifted its holdings in Eversource Energy by 2,857.1% during the fourth quarter. TFC Financial Management Inc. now owns 414 shares of the utilities provider’s stock worth $28,000 after acquiring an additional 400 shares during the period. Finally, Garton & Associates Financial Advisors LLC purchased a new position in Eversource Energy in the fourth quarter worth $28,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

About Eversource Energy

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.