Eversource Energy (NYSE:ES) Shares Bought by ProShare Advisors LLC

Posted by Defense World Staff on Sep 18th, 2023

ProShare Advisors LLC raised its position in shares of Eversource Energy (NYSE:ES – Free Report) by 87.7% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 85,537 shares of the utilities provider’s stock after purchasing an additional 39,968 shares during the quarter. ProShare Advisors LLC’s holdings in Eversource Energy were worth $6,694,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the company. Delta Asset Management LLC TN purchased a new stake in shares of Eversource Energy in the fourth quarter worth about $25,000. Lakewood Asset Management LLC acquired a new position in shares of Eversource Energy during the fourth quarter valued at approximately $25,000. Quarry LP raised its holdings in shares of Eversource Energy by 275.0% during the first quarter. Quarry LP now owns 315 shares of the utilities provider’s stock valued at $25,000 after acquiring an additional 231 shares during the last quarter. New Hampshire Trust acquired a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $27,000. Finally, Resurgent Financial Advisors LLC acquired a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $27,000. Hedge funds and other institutional investors own 80.83% of the company’s stock.

Eversource Energy Trading Down 0.4 %

NYSE:ES opened at $64.21 on Monday. The business’s 50-day moving average is $67.28 and its two-hundred day moving average is $71.97. The company has a debt-to-equity ratio of 1.40, a current ratio of 0.64 and a quick ratio of 0.57. Eversource Energy has a 12 month low of $60.37 and a 12 month high of $89.84. The firm has a market capitalization of $22.42 billion, a PE ratio of 19.05, a price-to-earnings-growth ratio of 2.59 and a beta of 0.48.

Eversource Energy (NYSE:ES – Get Free Report) last released its quarterly earnings data on Monday, July 31st. The utilities provider reported $1.00 EPS for the quarter, beating the consensus estimate of $0.91 by $0.09. Eversource Energy had a return on equity of 9.78% and a net margin of 9.28%. The company had revenue of $2.63 billion for the quarter, compared to analyst estimates of $2.94 billion. During the same period last year, the company posted $0.86 earnings per share. The firm’s revenue was up 2.2% compared to the same quarter last year. Research analysts predict that Eversource Energy will post 4.36 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Stockholders of record on Monday, September 25th will be paid a dividend of $0.675 per share. The ex-dividend date is Friday, September 22nd. This represents a $2.70 annualized dividend and a dividend yield of 4.20%. Eversource Energy’s dividend payout ratio is presently 80.12%.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on ES shares. BMO Capital Markets cut their target price on Eversource Energy from $77.00 to $75.00 and set a “market perform” rating for the company in a research note on Wednesday, August 2nd. Guggenheim cut their price target on Eversource Energy from $91.00 to $86.00 in a research note on Friday, July 7th. Barclays assumed coverage on Eversource Energy in a research note on Wednesday, August 23rd. They issued an “equal weight” rating and a $72.00 price target on the stock. StockNews.com started coverage on Eversource Energy in a research report on Thursday, August 17th. They set a “sell” rating on the stock. Finally, Mizuho dropped their price target on Eversource Energy from $79.00 to $73.00 in a research report on Friday, July 28th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $81.33.

Get Our Latest Stock Analysis on Eversource Energy

Insider Activity

In other news, VP Gregory B. Butler sold 15,000 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The stock was sold at an average price of $64.25, for a total transaction of $963,750.00. Following the completion of the sale, the vice president now directly owns 63,554 shares in the company, valued at $4,083,344.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.41% of the company’s stock.

About Eversource Energy

(Free Report)

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.