Paramount stock rises after FCC approves Skydance merger
In a recent transaction, Cleveland Cotton M, a trustee at Eversource Energy (NYSE:ES), sold 7,749 common shares of the company. The shares were sold at a price of $63.50 each, amounting to a total transaction value of $492,061. The utility company, with a market capitalization of $23 billion, has maintained a strong dividend track record, raising payments for 26 consecutive years according to InvestingPro data. Following this sale, Cleveland Cotton M retains ownership of 75,838 shares, which includes deferred shares, restricted share units, and dividend equivalents. This transaction was reported on February 26, 2025, and filed with the SEC on February 28, 2025. Currently trading at $63.01, InvestingPro analysis indicates the stock is slightly overvalued, with a dividend yield of 4.82% and significant debt obligations. For deeper insights into Eversource Energy’s financial health and valuation metrics, investors can access the comprehensive Pro Research Report, available exclusively on InvestingPro.
In other recent news, Eversource Energy has been added to the S&P 500 Dividend Aristocrats index, recognizing its consistent dividend growth over at least 25 years. The company recently reported fourth-quarter earnings per share of $1.01, which matched Scotiabank (TSX:BNS)’s forecast and exceeded the consensus estimate of $0.99. Despite these figures, Scotiabank downgraded Eversource Energy to a Sector Underperform rating and reduced its price target to $55, citing concerns over regulatory challenges in Connecticut and a strained credit profile. Meanwhile, Mizuho (NYSE:MFG) Securities has shown confidence in Eversource by raising its price target to $68 and maintaining an Outperform rating, reflecting an optimistic view of the company’s regulatory stability.
Additionally, Eversource Energy has acquired a 26-acre site in Everett, Massachusetts, from Constellation Energy (NASDAQ:CEG), aiming to enhance the region’s clean energy capabilities. This strategic purchase is expected to serve as a key interconnection hub for renewable energy sources, supporting the company’s commitment to a clean energy future. The acquisition aligns with Eversource’s broader goals of integrating clean energy resources, including solar, wind, and battery storage, into the electrical system. The company is also expected to engage extensively with regulators in the coming year to seek approvals for rate cases and infrastructure spending, which may present further challenges.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.