Key Points
- VP Gregory Butler sold 7,000 shares of Eversource Energy stock on June 4 for about $489,160, reducing his direct holdings by 11.08%.
- Eversource recently beat quarterly earnings and revenue estimates, reporting $1.73 EPS on $4.50 billion in revenue, while also raising its full-year outlook.
- The company declared a quarterly dividend of $0.7875 per share, equal to an annualized yield of about 4.5%.
Eversource Energy (NYSE:ES - Get Free Report) VP Gregory 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 sale, the vice president directly owned 56,179 shares of the company's stock, valued at $3,925,788.52. The trade was a 11.08% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.
Eversource Energy Price Performance
Eversource Energy stock opened at $70.56 on Friday. Eversource Energy has a 52-week low of $61.53 and a 52-week high of $76.41. The firm has a market capitalization of $26.54 billion, a price-to-earnings ratio of 15.08, a PEG ratio of 4.63 and a beta of 0.71. The company has a fifty day simple moving average of $68.81 and a 200-day simple moving average of $69.29. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.62.
Eversource Energy (NYSE:ES - Get Free Report) last released its 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 net margin of 12.55% and a return on equity of 11.59%. The business had revenue of $4.50 billion during the quarter, compared to analyst estimates of $4.21 billion. During the same quarter in the prior year, the firm earned $1.50 earnings per share. 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. On average, equities analysts anticipate that Eversource Energy will post 4.65 EPS for the current fiscal year.
Eversource Energy Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Monday, May 18th will be issued a dividend of $0.7875 per share. The ex-dividend date of this dividend is Monday, May 18th. This represents a $3.15 dividend on an annualized basis and a dividend yield of 4.5%. Eversource Energy's dividend payout ratio is presently 67.31%.
Analysts Set New Price Targets
A number of research firms have recently issued reports on ES. Scotiabank dropped their target price on shares of Eversource Energy from $66.00 to $63.00 and set a "sector underperform" rating for the company in a report on Tuesday, April 21st. Mizuho dropped their target price on shares of Eversource Energy from $75.00 to $70.00 and set a "neutral" rating for the company in a report on Thursday, March 26th. UBS Group dropped their price objective on shares of Eversource Energy from $80.00 to $74.00 and set a "neutral" rating for the company in a report on Friday, March 27th. Wells Fargo & Company upped their price objective on shares of Eversource Energy from $74.00 to $75.00 and gave the company an "overweight" rating in a report on Friday, May 8th. Finally, Bank of America reissued a "buy" rating and issued a $72.00 price objective on shares of Eversource Energy in a report on Wednesday, April 22nd. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, five have assigned a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $71.70.
View Our Latest Stock Analysis on ES
Institutional Investors Weigh In On Eversource Energy
Hedge funds have recently modified their holdings of the company. Alps Advisors Inc. boosted its stake in Eversource Energy by 5.4% during the third quarter. Alps Advisors Inc. now owns 386,853 shares of the utilities provider's stock worth $27,521,000 after buying an additional 19,795 shares during the period. Aventail Capital Group LP boosted its stake in Eversource Energy by 134.6% during the third quarter. Aventail Capital Group LP now owns 1,366,121 shares of the utilities provider's stock worth $97,186,000 after buying an additional 783,768 shares during the period. Russell Investments Group Ltd. boosted its stake in Eversource Energy by 87.2% during the third quarter. Russell Investments Group Ltd. now owns 1,060,902 shares of the utilities provider's stock worth $75,461,000 after buying an additional 494,158 shares during the period. Caprock Group LLC purchased a new position in Eversource Energy during the third quarter worth about $1,511,000. Finally, Legal & General Group Plc boosted its stake in Eversource Energy by 1.3% during the third quarter. Legal & General Group Plc now owns 5,088,500 shares of the utilities provider's stock worth $361,996,000 after buying an additional 63,466 shares during the period. Hedge funds and other institutional investors own 79.99% of the company's stock.
About Eversource Energy
(
Get Free Report)
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.
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