First Trust Direct Indexing L.P. Makes New $280,000 Investment in Eversource Energy (NYSE:ES)

First Trust Direct Indexing L.P. bought a new position in shares of Eversource Energy (NYSE:ES) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 4,535 shares of the utilities provider’s stock, valued at approximately $280,000.

A number of other institutional investors and hedge funds also recently modified their holdings of ES. Charles Schwab Investment Management Inc. grew its position in shares of Eversource Energy by 1.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 7,296,972 shares of the utilities provider’s stock worth $404,856,000 after acquiring an additional 134,492 shares during the last quarter. Legal & General Group Plc grew its position in shares of Eversource Energy by 2.5% during the third quarter. Legal & General Group Plc now owns 6,628,663 shares of the utilities provider’s stock worth $385,457,000 after acquiring an additional 163,053 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Eversource Energy by 8.2% during the fourth quarter. Nordea Investment Management AB now owns 6,299,800 shares of the utilities provider’s stock worth $388,509,000 after acquiring an additional 475,341 shares during the last quarter. Morgan Stanley grew its position in Eversource Energy by 19.3% in the 3rd quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock valued at $259,595,000 after buying an additional 723,318 shares in the last quarter. Finally, Northern Trust Corp grew its position in Eversource Energy by 2.7% in the 3rd quarter. Northern Trust Corp now owns 4,237,474 shares of the utilities provider’s stock valued at $246,409,000 after buying an additional 111,294 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Eversource Energy Trading Up 2.4 %

Shares of Eversource Energy stock opened at $61.17 on Wednesday. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $77.92. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. The company’s fifty day simple moving average is $59.25 and its 200-day simple moving average is $58.24. The company has a market cap of $21.45 billion, a price-to-earnings ratio of -51.84, a PEG ratio of 3.21 and a beta of 0.57.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.22%. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the company earned $1.41 earnings per share. The business’s revenue was down 12.2% compared to the same quarter last year. As a group, sell-side analysts expect that Eversource Energy will post 4.49 EPS for the current 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. The ex-dividend date of this dividend is Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.68%. Eversource Energy’s payout ratio is presently -242.37%.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on the stock. Argus decreased their target price on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a research report on Monday, March 25th. Barclays reduced their price objective on shares of 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. StockNews.com raised shares of Eversource Energy to a “sell” rating in a research note on Thursday, March 28th. Mizuho raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $54.00 to $62.00 in a research note on Thursday, February 15th. Finally, Scotiabank reduced their price target on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a research report on Monday, April 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, Eversource Energy presently has a consensus rating of “Hold” and a consensus target price of $66.23.

Insider Buying and Selling at Eversource Energy

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

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.