Eversource Energy (NYSE:ES) Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. boosted its stake in Eversource Energy (NYSE:ES) by 4.8% during the fourth quarter, Holdings Channel.com reports. The fund owned 7,650,143 shares of the utilities provider’s stock after purchasing an additional 353,171 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in Eversource Energy were worth $448,567,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in ES. Apollon Wealth Management LLC lifted its holdings in Eversource Energy by 151.2% in the 4th quarter. Apollon Wealth Management LLC now owns 9,680 shares of the utilities provider’s stock valued at $597,000 after purchasing an additional 5,827 shares in the last quarter. Maryland State Retirement & Pension System raised its holdings in Eversource Energy by 1.3% in the 4th quarter. Maryland State Retirement & Pension System now owns 320,316 shares of the utilities provider’s stock valued at $19,770,000 after acquiring an additional 4,036 shares during the last quarter. Connecticut Wealth Management LLC lifted its stake in Eversource Energy by 19.5% in the 4th quarter. Connecticut Wealth Management LLC now owns 6,506 shares of the utilities provider’s stock worth $402,000 after purchasing an additional 1,062 shares in the last quarter. AJOVista LLC acquired a new position in shares of Eversource Energy during the 4th quarter worth approximately $216,000. Finally, Axxcess Wealth Management LLC purchased a new stake in shares of Eversource Energy in the fourth quarter valued at approximately $275,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Up 2.4 %

Shares of NYSE ES traded up $1.46 during midday trading on Tuesday, hitting $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 has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. The firm has a market capitalization of $21.45 billion, a price-to-earnings ratio of -51.84, a price-to-earnings-growth ratio of 3.21 and a beta of 0.57. The business’s fifty day simple moving average is $59.25 and its two-hundred day simple moving average is $58.24. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $77.92.

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

Eversource Energy Dividend Announcement

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

Insiders Place Their Bets

In related news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction that occurred on Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the sale, the insider now owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, insider Linda Dorcena Forry sold 822 shares of the 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 transaction, the insider now owns 10,485 shares in the company, valued at approximately $609,388.20. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the sale, the insider now directly owns 21,621 shares in the company, valued at approximately $1,245,369.60. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ES shares. Argus reduced their price objective on Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, March 25th. UBS Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $67.00 in a research report on Thursday, April 4th. StockNews.com upgraded Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. Wells Fargo & Company upped their price target on Eversource Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday. Finally, Mizuho upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $54.00 to $62.00 in a report on Thursday, February 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $66.23.

About Eversource Energy

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.