Sterling Investment Counsel LLC Cuts Stake in Eversource Energy $ES

Sterling Investment Counsel LLC cut its stake in Eversource Energy (NYSE:ES) by 5.9% during the 2nd quarter, HoldingsChannel reports. The firm owned 3,860 shares of the utilities provider’s stock after selling 240 shares during the quarter. Sterling Investment Counsel LLC’s holdings in Eversource Energy were worth $246,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in the stock. Synergy Asset Management LLC purchased a new position in Eversource Energy in the second quarter valued at about $2,631,000. Cromwell Holdings LLC increased its position in shares of Eversource Energy by 25.7% during the second quarter. Cromwell Holdings LLC now owns 1,042 shares of the utilities provider’s stock worth $66,000 after acquiring an additional 213 shares during the last quarter. Hilltop National Bank purchased a new stake in shares of Eversource Energy during the second quarter worth about $32,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of Eversource Energy by 5.3% during the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 63,498 shares of the utilities provider’s stock worth $4,040,000 after acquiring an additional 3,204 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its position in shares of Eversource Energy by 42.0% during the second quarter. Robeco Institutional Asset Management B.V. now owns 392,094 shares of the utilities provider’s stock worth $24,945,000 after acquiring an additional 116,000 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Stock Up 0.3%

NYSE:ES opened at $71.78 on Friday. 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 stock has a 50-day simple moving average of $65.89 and a 200 day simple moving average of $63.40. Eversource Energy has a one year low of $52.28 and a one year high of $71.99. The company has a market capitalization of $26.64 billion, a price-to-earnings ratio of 30.81, a price-to-earnings-growth ratio of 2.69 and a beta of 0.67.

Eversource Energy (NYSE:ES) last issued its earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.95 by $0.01. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The company had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same period in the previous year, the firm posted $0.95 earnings per share. Eversource Energy’s quarterly revenue was up 12.0% compared to the same quarter last year. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Sell-side analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

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

Insider Buying and Selling

In related news, insider Loretta D. Keane bought 3,780 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the purchase, the insider directly owned 12,033 shares in the company, valued at approximately $795,020.31. The trade was a 45.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Mizuho lifted their target price on Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a research report on Wednesday, June 25th. Bank of America lifted their target price on Eversource Energy from $62.00 to $67.00 and gave the stock a “neutral” rating in a research report on Monday, July 21st. Three investment analysts have rated the stock with a Buy rating, three have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $64.38.

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.