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

Charles Schwab Investment Management Inc. trimmed its holdings in Eversource Energy (NYSE:ES) by 0.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 9,706,866 shares of the utilities provider’s stock after selling 25,270 shares during the quarter. Charles Schwab Investment Management Inc. owned 2.65% of Eversource Energy worth $660,408,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently bought and sold shares of ES. O Shaughnessy Asset Management LLC raised its stake in Eversource Energy by 74.0% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 32,181 shares of the utilities provider’s stock valued at $1,923,000 after purchasing an additional 13,685 shares during the period. Lake Street Advisors Group LLC increased its stake in Eversource Energy by 15.5% in the 1st quarter. Lake Street Advisors Group LLC now owns 5,184 shares of the utilities provider’s stock valued at $310,000 after buying an additional 694 shares during the period. Canada Pension Plan Investment Board boosted its stake in shares of Eversource Energy by 6.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 646,334 shares of the utilities provider’s stock valued at $38,631,000 after buying an additional 37,219 shares during the period. Quadrature Capital Ltd acquired a new position in shares of Eversource Energy in the first quarter worth $700,000. Finally, Price T Rowe Associates Inc. MD boosted its position in Eversource Energy by 1.4% during the first quarter. Price T Rowe Associates Inc. MD now owns 466,254 shares of the utilities provider’s stock valued at $27,869,000 after purchasing an additional 6,556 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Stock Performance

ES stock opened at $62.69 on Friday. Eversource Energy has a 1-year low of $52.09 and a 1-year high of $69.01. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. The firm has a market cap of $22.97 billion, a PE ratio of -39.93, a P/E/G ratio of 2.47 and a beta of 0.61. The business’s 50-day moving average price is $64.77 and its two-hundred day moving average price is $62.88.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the prior year, the firm earned $0.97 earnings per share. Eversource Energy’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, research analysts forecast that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.56%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio is currently -182.17%.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the stock. Bank of America lifted their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Morgan Stanley lifted their target price on shares of Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday, August 23rd. Barclays raised their price target on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Wells Fargo & Company upped their price target on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a report on Friday, August 2nd. Finally, BMO Capital Markets reduced their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Eight equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $70.46.

Eversource Energy Company 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.