AMF Tjanstepension AB Boosts Holdings in Eversource Energy $ES

AMF Tjanstepension AB grew its holdings in Eversource Energy (NYSE:ES) by 71.3% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 244,990 shares of the utilities provider’s stock after purchasing an additional 101,969 shares during the quarter. AMF Tjanstepension AB’s holdings in Eversource Energy were worth $15,602,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Hilltop National Bank purchased a new position in shares of Eversource Energy in the second quarter valued at approximately $32,000. Rossby Financial LCC purchased a new position in shares of Eversource Energy in the first quarter valued at approximately $34,000. Zions Bancorporation National Association UT purchased a new position in shares of Eversource Energy in the first quarter valued at approximately $46,000. Cromwell Holdings LLC boosted its stake in shares of Eversource Energy by 44.2% in the first quarter. Cromwell Holdings LLC now owns 829 shares of the utilities provider’s stock valued at $51,000 after purchasing an additional 254 shares during the period. Finally, Golden State Wealth Management LLC boosted its stake in shares of Eversource Energy by 233.9% in the first quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider’s stock valued at $52,000 after purchasing an additional 580 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Up 1.0%

ES stock opened at $72.52 on Friday. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $73.48. The company’s 50 day moving average is $66.00 and its two-hundred day moving average is $63.48. The stock has a market cap of $26.91 billion, a P/E ratio of 31.12, a PEG ratio of 2.70 and a beta of 0.67.

Eversource Energy (NYSE:ES) last released its quarterly earnings data 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 company had revenue of $2.84 billion for the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter last year, the company 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. Research analysts expect 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 issued 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 dividend payout ratio (DPR) is presently 129.18%.

Insiders Place Their Bets

In related news, insider Loretta D. Keane acquired 3,780 shares of the business’s 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 acquisition, the insider owned 12,033 shares in the company, valued at $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.41% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on ES. Weiss Ratings reissued a “hold (c)” rating on shares of Eversource Energy in a research note on Saturday, September 27th. Bank of America raised their target price on shares of Eversource Energy from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Finally, Mizuho raised their target price on shares of Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a report on Wednesday, June 25th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $64.38.

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.