McKinley Carter Wealth Services Inc. Increases Position in Eversource Energy $ES

McKinley Carter Wealth Services Inc. lifted its position in Eversource Energy (NYSE:ES) by 874.6% in the second quarter, HoldingsChannel.com reports. The firm owned 32,297 shares of the utilities provider’s stock after purchasing an additional 28,983 shares during the quarter. McKinley Carter Wealth Services Inc.’s holdings in Eversource Energy were worth $2,055,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Nuveen LLC purchased a new position in Eversource Energy during the first quarter valued at $286,130,000. Wellington Management Group LLP grew its stake in Eversource Energy by 4.5% during the first quarter. Wellington Management Group LLP now owns 17,209,804 shares of the utilities provider’s stock valued at $1,068,901,000 after acquiring an additional 739,448 shares in the last quarter. Magellan Asset Management Ltd grew its stake in Eversource Energy by 6.2% during the first quarter. Magellan Asset Management Ltd now owns 6,876,343 shares of the utilities provider’s stock valued at $427,090,000 after acquiring an additional 401,866 shares in the last quarter. Vanguard Group Inc. grew its stake in Eversource Energy by 0.8% during the first quarter. Vanguard Group Inc. now owns 44,961,496 shares of the utilities provider’s stock valued at $2,792,559,000 after acquiring an additional 351,780 shares in the last quarter. Finally, Sound Income Strategies LLC grew its stake in Eversource Energy by 3,061.6% during the first quarter. Sound Income Strategies LLC now owns 266,242 shares of the utilities provider’s stock valued at $16,536,000 after acquiring an additional 257,821 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Loretta D. Keane bought 3,780 shares of the stock in a transaction dated Friday, August 22nd. The stock was purchased at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the acquisition, the insider owned 12,033 shares of the company’s stock, valued at $795,020.31. The trade was a 45.80% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Eversource Energy in a research note on Wednesday. Mizuho increased their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, June 25th. Finally, Bank of America increased their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Three 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 data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $64.38.

Eversource Energy Price Performance

Eversource Energy stock opened at $72.38 on Friday. The firm has a 50-day moving average price of $66.56 and a 200-day moving average price of $63.80. The firm 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 current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $74.46.

Eversource Energy (NYSE:ES) last released its earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. The firm had revenue of $2.84 billion during the quarter, compared to analyst estimates of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The business’s revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the business earned $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. As a group, equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.2%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s dividend payout ratio (DPR) is 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.