Cerro Pacific Wealth Advisors LLC Sells 363 Shares of Eversource Energy $ES

Cerro Pacific Wealth Advisors LLC reduced its position in shares of Eversource Energy (NYSE:ES) by 9.6% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,436 shares of the utilities provider’s stock after selling 363 shares during the period. Cerro Pacific Wealth Advisors LLC’s holdings in Eversource Energy were worth $219,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Ballentine Partners LLC raised its stake in Eversource Energy by 4.9% during the 1st quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider’s stock valued at $369,000 after purchasing an additional 277 shares during the last quarter. Hilltop National Bank bought a new position in shares of Eversource Energy during the 2nd quarter worth about $32,000. Farther Finance Advisors LLC increased its holdings in shares of Eversource Energy by 105.6% during the 1st quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider’s stock worth $287,000 after purchasing an additional 2,374 shares during the period. Golden State Wealth Management LLC increased its holdings in shares of Eversource Energy by 233.9% during the 1st quarter. Golden State Wealth Management LLC now owns 828 shares of the utilities provider’s stock worth $52,000 after purchasing an additional 580 shares during the period. Finally, Cambridge Investment Research Advisors Inc. increased its holdings in shares of Eversource Energy by 14.9% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 66,402 shares of the utilities provider’s stock worth $4,124,000 after purchasing an additional 8,616 shares during the period. 79.99% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Mizuho boosted their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a report on Wednesday, June 25th. Bank of America boosted their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the stock a “neutral” rating in a report on Monday, July 21st. Finally, Weiss Ratings restated a “hold (c)” rating on shares of Eversource Energy in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, four have given a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and a consensus target price of $64.38.

Eversource Energy Trading Down 0.1%

Shares of ES stock opened at $72.31 on Monday. Eversource Energy has a 52-week low of $52.28 and a 52-week high of $74.46. The stock has a market cap of $26.84 billion, a price-to-earnings ratio of 31.03, a P/E/G ratio of 2.72 and a beta of 0.67. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71. The firm has a fifty day moving average of $66.69 and a 200-day moving average of $63.94.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to analysts’ expectations of $3.01 billion. During the same quarter in the prior year, the company posted $0.95 EPS. The business’s revenue was up 12.0% on a year-over-year basis. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. On average, equities research analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a dividend of $0.7525 per share. The ex-dividend date 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 129.18%.

Insider Activity

In other news, insider Loretta D. Keane bought 3,780 shares of the company’s stock in a transaction that occurred on Friday, August 22nd. The stock was acquired at an average price of $66.07 per share, for a total transaction 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 position. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.41% of the stock is owned by company insiders.

Eversource Energy Profile

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.