IFP Advisors Inc Raises Stock Holdings in Eversource Energy $ES

IFP Advisors Inc lifted its holdings in Eversource Energy (NYSE:ES) by 26.1% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 2,155 shares of the utilities provider’s stock after buying an additional 446 shares during the quarter. IFP Advisors Inc’s holdings in Eversource Energy were worth $139,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of ES. Hilltop National Bank purchased a new stake in shares of Eversource Energy in the second quarter worth approximately $32,000. Rossby Financial LCC purchased a new stake in shares of Eversource Energy in the first quarter worth approximately $34,000. Zions Bancorporation National Association UT purchased a new stake in shares of Eversource Energy in the first quarter worth approximately $46,000. Cromwell Holdings LLC raised its holdings 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 worth $51,000 after buying an additional 254 shares during the period. Finally, Golden State Wealth Management LLC raised its holdings 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 worth $52,000 after buying an additional 580 shares during the period. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Eversource Energy Stock Up 1.6%

Eversource Energy stock opened at $72.52 on Friday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. The stock has a market capitalization of $26.91 billion, a price-to-earnings ratio of 31.12, a PEG ratio of 2.83 and a beta of 0.67. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $74.46. The business has a fifty day moving average price of $67.27 and a 200-day moving average price of $64.26.

Eversource Energy (NYSE:ES) last posted 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. The firm had revenue of $2.84 billion during the quarter, compared to analysts’ expectations of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The business’s quarterly revenue was up 12.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.95 EPS. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several research firms have commented on ES. Weiss Ratings restated a “hold (c)” rating on shares of Eversource Energy in a report on Wednesday, October 8th. 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 report on Monday, July 21st. Mizuho raised their price objective on Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, June 25th. TD Cowen began coverage on Eversource Energy in a report on Thursday. They set a “hold” rating and a $76.00 price objective on the stock. Finally, Janney Montgomery Scott restated a “neutral” rating on shares of Eversource Energy in a report on Monday, October 13th. Three 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. Based on data from MarketBeat.com, Eversource Energy presently has a consensus rating of “Hold” and a consensus target price of $65.67.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, insider Loretta D. Keane acquired 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, with a total value of $249,744.60. Following the transaction, the insider directly owned 12,033 shares of the company’s stock, 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 hyperlink. 0.41% of the stock is owned by insiders.

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.