Dimensional Fund Advisors LP Lowers Position in Eversource Energy (ES)
Dimensional Fund Advisors LP reduced its stake in shares of Eversource Energy (NYSE:ES) by 0.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 653,205 shares of the company’s stock after selling 5,265 shares during the period. Dimensional Fund Advisors LP owned about 0.21% of Eversource Energy worth $39,120,000 at the end of the most recent quarter.
Other hedge funds have also recently bought and sold shares of the company. Tortoise Investment Management LLC increased its stake in Eversource Energy by 71.2% in the second quarter. Tortoise Investment Management LLC now owns 2,695 shares of the company’s stock valued at $161,000 after buying an additional 1,121 shares during the last quarter. Ledyard National Bank increased its stake in Eversource Energy by 24.5% in the second quarter. Ledyard National Bank now owns 2,968 shares of the company’s stock valued at $178,000 after buying an additional 585 shares during the last quarter. Global X Management Co. LLC increased its stake in Eversource Energy by 164.5% in the second quarter. Global X Management Co. LLC now owns 3,179 shares of the company’s stock valued at $190,000 after buying an additional 1,977 shares during the last quarter. Boston Private Wealth LLC purchased a new stake in Eversource Energy during the second quarter valued at $204,000. Finally, CHICAGO TRUST Co NA purchased a new stake in Eversource Energy during the second quarter valued at $206,000. 69.34% of the stock is owned by institutional investors and hedge funds.
Shares of Eversource Energy (NYSE:ES) opened at 53.75 on Tuesday. The stock has a market cap of $17.05 billion, a price-to-earnings ratio of 19.76 and a beta of 0.29. Eversource Energy has a 1-year low of $48.18 and a 1-year high of $60.44. The company has a 50-day moving average price of $54.04 and a 200-day moving average price of $56.21.
Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.64 earnings per share for the quarter, missing the consensus estimate of $0.65 by $0.01. Eversource Energy had a net margin of 11.62% and a return on equity of 8.42%. The company had revenue of $1.77 billion for the quarter, compared to the consensus estimate of $1.81 billion. During the same quarter in the previous year, the business earned $0.65 earnings per share. Eversource Energy’s revenue was down 2.7% compared to the same quarter last year. On average, equities analysts expect that Eversource Energy will post $2.97 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were issued a dividend of $0.445 per share. The ex-dividend date was Thursday, September 15th. This represents a $1.78 annualized dividend and a dividend yield of 3.31%. Eversource Energy’s payout ratio is presently 65.44%.
Several research firms have recently weighed in on ES. Zacks Investment Research raised Eversource Energy from a “sell” rating to a “hold” rating in a report on Monday, July 18th. Barclays PLC reduced their target price on Eversource Energy from $65.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, October 4th. Janney Montgomery Scott raised Eversource Energy from a “neutral” rating to a “buy” rating and set a $67.00 target price for the company in a report on Monday, August 1st. Citigroup Inc. dropped their price target on Eversource Energy from $61.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 4th. Finally, Deutsche Bank AG restated a “hold” rating and issued a $58.00 price target (down previously from $59.00) on shares of Eversource Energy in a research report on Monday, June 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $59.67.
In other news, VP Gregory B. Butler sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 8th. The stock was sold at an average price of $54.77, for a total transaction of $547,700.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.89% of the company’s stock.
About Eversource Energy
Eversource Energy, formerly Northeast Utilities, is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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