Castle Rock Wealth Management LLC Makes New Investment in Eversource Energy $ES

Castle Rock Wealth Management LLC purchased a new position in Eversource Energy (NYSE:ES) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 30,858 shares of the utilities provider’s stock, valued at approximately $2,014,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. BlackRock Inc. bought a new stake in shares of Eversource Energy in the second quarter worth about $3,086,413,000. Victory Capital Management Inc. grew its holdings in Eversource Energy by 61.8% during the 4th quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider’s stock valued at $642,747,000 after buying an additional 3,645,555 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Eversource Energy by 1.3% during the 2nd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 6,620,413 shares of the utilities provider’s stock valued at $478,457,000 after buying an additional 88,163 shares in the last quarter. Deutsche Bank AG increased its stake in Eversource Energy by 78.1% in the 4th quarter. Deutsche Bank AG now owns 5,341,986 shares of the utilities provider’s stock worth $359,676,000 after acquiring an additional 2,341,912 shares during the last quarter. Finally, Legal & General Group Plc bought a new stake in Eversource Energy in the 2nd quarter worth approximately $359,215,000. Institutional investors own 79.99% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on ES. Mizuho upped their price objective on Eversource Energy from $70.00 to $74.00 and gave the stock a “neutral” rating in a report on Monday, August 3rd. 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. Wells Fargo & Company upped their price target on shares of Eversource Energy from $75.00 to $76.00 and gave the company an “overweight” rating in a research note on Thursday, July 2nd. Citigroup reiterated a “hold” rating and set a $81.00 price objective on shares of Eversource Energy in a research report on Monday, July 27th. Finally, Argus cut shares of Eversource Energy from a “buy” rating to a “hold” rating in a research note on Friday, June 12th. Four research analysts have rated the stock with a Buy rating, six have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $72.92.

Eversource Energy Trading Down 0.0%

Shares of NYSE ES traded down $0.03 during trading hours on Friday, hitting $65.66. 2,136,926 shares of the company traded hands, compared to its average volume of 2,495,472. The company’s 50 day moving average price is $69.14 and its 200 day moving average price is $69.92. Eversource Energy has a 12 month low of $62.72 and a 12 month high of $76.57. The stock has a market capitalization of $24.73 billion, a price-to-earnings ratio of 17.01, a price-to-earnings-growth ratio of 2.83 and a beta of 0.67. The company has a current ratio of 0.80, a quick ratio of 0.74 and a debt-to-equity ratio of 1.63.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, July 30th. The utilities provider reported $0.87 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.87. The company had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.99 billion. Eversource Energy had a return on equity of 11.33% and a net margin of 10.35%.Eversource Energy’s revenue was up 2.3% on a year-over-year basis. During the same period last year, the company earned $0.96 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. On average, equities research analysts anticipate that Eversource Energy will post 4.64 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were issued a $0.7875 dividend. This represents a $3.15 annualized dividend and a dividend yield of 4.8%. The ex-dividend date was Monday, September 21st. Eversource Energy’s dividend payout ratio (DPR) is 81.61%.

About Eversource Energy

Eversource Energy (NYSE: ES) is a diversified energy delivery company that operates regulated electric and natural gas utilities in the northeastern United States. Its businesses provide electricity and natural gas distribution, electric transmission, and related energy infrastructure services to residential, commercial, and industrial customers.

Eversource’s electric operations serve customers across Connecticut, Massachusetts, and New Hampshire, while its natural gas distribution businesses operate primarily in Connecticut and Massachusetts.