Dimensional Fund Advisors LP Sells 5,463 Shares of Eversource Energy (NYSE:ES)

Dimensional Fund Advisors LP cut its position in shares of Eversource Energy (NYSE:ES – Get Rating) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,186,483 shares of the utilities provider’s stock after selling 5,463 shares during the period. Dimensional Fund Advisors LP owned approximately 0.34% of Eversource Energy worth $99,481,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Mascoma Wealth Management LLC bought a new position in Eversource Energy during the fourth quarter valued at approximately $25,000. Piershale Financial Group Inc. bought a new stake in shares of Eversource Energy in the 4th quarter valued at approximately $26,000. Point72 Hong Kong Ltd bought a new stake in shares of Eversource Energy in the 3rd quarter valued at approximately $35,000. CI Investments Inc. lifted its stake in shares of Eversource Energy by 983.3% in the 3rd quarter. CI Investments Inc. now owns 455 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 413 shares during the last quarter. Finally, Tortoise Investment Management LLC lifted its stake in shares of Eversource Energy by 25.9% in the 3rd quarter. Tortoise Investment Management LLC now owns 685 shares of the utilities provider’s stock valued at $53,000 after purchasing an additional 141 shares during the last quarter. 77.37% of the stock is owned by institutional investors.

Eversource Energy Stock Performance

Shares of ES opened at $73.17 on Monday. The stock has a 50-day moving average of $77.25 and a two-hundred day moving average of $79.60. Eversource Energy has a one year low of $70.54 and a one year high of $94.41. The company has a debt-to-equity ratio of 1.31, a quick ratio of 0.65 and a current ratio of 0.65. The stock has a market cap of $25.52 billion, a P/E ratio of 17.55, a P/E/G ratio of 2.65 and a beta of 0.46.

Eversource Energy (NYSE:ES – Get Rating) last released its quarterly earnings data on Wednesday, May 3rd. The utilities provider reported $1.41 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.07. The business had revenue of $3.80 billion during the quarter, compared to analyst estimates of $3.24 billion. Eversource Energy had a return on equity of 9.51% and a net margin of 11.52%. The company’s revenue was up 9.3% on a year-over-year basis. During the same quarter last year, the business posted $1.30 EPS. As a group, research analysts predict that Eversource Energy will post 4.36 EPS for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Shareholders of record on Thursday, May 18th will be paid a dividend of $0.675 per share. The ex-dividend date of this dividend is Wednesday, May 17th. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.69%. Eversource Energy’s payout ratio is currently 64.75%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the company. Argus reduced their price target on Eversource Energy from $95.00 to $85.00 in a report on Thursday, March 30th. Evercore ISI upgraded Eversource Energy from an “in-line” rating to an “outperform” rating and raised their price objective for the stock from $86.00 to $92.00 in a report on Tuesday, January 24th. Mizuho reduced their price objective on Eversource Energy from $87.00 to $79.00 and set a “neutral” rating on the stock in a report on Monday, April 3rd. Guggenheim reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Tuesday, March 21st. Finally, BMO Capital Markets increased their target price on Eversource Energy from $86.00 to $89.00 and gave the company a “market perform” rating in a research report on Friday, April 14th. Eight equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $87.58.

About Eversource Energy

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Eversource Energy engages in the generation, transmission, and distribution of natural gas and electricity. It operates through the following segments: Electric Distribution, Electric Transmission, Natural Gas Distribution and Water Distribution. The Electric Distribution segment distributes electricity to retail customers.