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Gregory B. Butler, Executive Vice President and General Counsel at Eversource Energy (NYSE:ES), has sold a portion of his holdings in the company. According to a recent SEC filing, Butler disposed of 12,000 common shares on February 28, 2025. The shares were sold at a weighted average price of $62.679, totaling approximately $752,148. The transaction comes as InvestingPro data shows Eversource trading near its Fair Value, with a market capitalization of $23 billion and an attractive dividend yield of 4.78%.
Following this transaction, Butler retains ownership of 61,268 shares directly. Additionally, he holds 8,310 shares indirectly through a 401(k) plan and 285 phantom shares linked to deferred compensation. These phantom shares are part of Eversource’s Deferred Compensation Plan and represent the right to receive common shares upon a distribution event. InvestingPro analysis reveals the company has maintained dividend payments for 27 consecutive years, with an 11.48% dividend growth in the last twelve months.
Eversource Energy, a major player in the electric services industry, continues to be a focus for investors monitoring executive stock transactions. For deeper insights into Eversource’s financial health and future prospects, including additional ProTips and comprehensive analysis, check out the detailed Pro Research Report available on InvestingPro.
In other recent news, Eversource Energy reported its fourth-quarter earnings for 2024, revealing earnings per share (EPS) of $1.01, which matched Scotiabank (TSX:BNS)’s forecast and exceeded the consensus estimate of $0.99. Despite this, Scotiabank downgraded Eversource Energy’s stock rating to ’Sector Underperform’ and reduced its price target from $66.00 to $56.00, citing concerns over below-average growth prospects and regulatory challenges in Connecticut. Conversely, Mizuho (NYSE:MFG) Securities expressed confidence in Eversource Energy by raising its price target to $68 and maintaining an Outperform rating, reflecting an optimistic outlook on the company’s regulatory conditions.
Additionally, Eversource Energy has been added to the S&P 500 Dividend Aristocrats index, recognized for its consistent dividend increases over 25 years, with a current dividend yield of 4.96%. The company also acquired a 26-acre site in Everett, Massachusetts, from Constellation Energy (NASDAQ:CEG) to develop a clean energy hub, aiming to enhance grid reliability and support renewable energy integration. This acquisition aligns with Eversource’s commitment to a clean energy future and is expected to aid in Massachusetts’ decarbonization goals.
Scotiabank, however, remains cautious about Eversource’s regulatory interactions in 2025, particularly in Connecticut, and has expressed concerns about the company’s weak balance sheet and recent credit downgrades. Despite these challenges, Eversource continues to focus on addressing key issues and exploring opportunities for growth and sustainability.
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