Charles Schwab Investment Management Inc. Acquires 353,171 Shares of Eversource Energy (NYSE:ES)

Charles Schwab Investment Management Inc. increased its position in shares of Eversource Energy (NYSE:ES) by 4.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 7,650,143 shares of the utilities provider’s stock after acquiring an additional 353,171 shares during the period. Charles Schwab Investment Management Inc. owned approximately 2.19% of Eversource Energy worth $448,567,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in ES. Exchange Traded Concepts LLC bought a new stake in Eversource Energy during the 4th quarter valued at $26,000. Bfsg LLC bought a new stake in Eversource Energy in the fourth quarter worth $31,000. Hexagon Capital Partners LLC grew its stake in shares of Eversource Energy by 84.0% in the fourth quarter. Hexagon Capital Partners LLC now owns 596 shares of the utilities provider’s stock worth $37,000 after acquiring an additional 272 shares during the last quarter. MV Capital Management Inc. increased its holdings in shares of Eversource Energy by 40.4% during the third quarter. MV Capital Management Inc. now owns 716 shares of the utilities provider’s stock valued at $42,000 after acquiring an additional 206 shares in the last quarter. Finally, CVA Family Office LLC purchased a new position in shares of Eversource Energy in the 4th quarter worth about $43,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Insider Buying and Selling at Eversource Energy

In related news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now directly owns 10,485 shares in the company, valued at $609,388.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction dated Friday, March 1st. The shares were sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Frederica M. Williams sold 2,714 shares of the stock in a transaction dated Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the transaction, the insider now directly owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently commented on ES. Wells Fargo & Company increased their price objective on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a research report on Friday. Mizuho raised Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $54.00 to $62.00 in a report on Thursday, February 15th. The Goldman Sachs Group started coverage on Eversource Energy in a report on Wednesday, April 10th. They issued a “buy” rating and a $73.00 price objective for the company. Barclays decreased their target price on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, January 22nd. Finally, Argus reduced their price target on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research note on Monday, March 25th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $66.23.

Eversource Energy Price Performance

ES stock traded up $1.46 during trading on Tuesday, reaching $61.17. The company’s stock had a trading volume of 2,054,324 shares, compared to its average volume of 2,877,016. The company’s fifty day moving average is $59.25 and its 200-day moving average is $58.24. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $77.92. The company has a market capitalization of $21.45 billion, a P/E ratio of -51.84, a price-to-earnings-growth ratio of 3.21 and a beta of 0.57. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 1.66.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $3.33 billion for the quarter, compared to analysts’ expectations of $3.69 billion. Eversource Energy had a positive return on equity of 10.22% and a negative net margin of 3.60%. The firm’s revenue was down 12.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.41 EPS. On average, research analysts expect that Eversource Energy will post 4.49 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be issued a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.68%. The ex-dividend date of this dividend is Wednesday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is presently -242.37%.

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.