First Trust Direct Indexing L.P. Acquires 1,345 Shares of Eversource Energy (NYSE:ES)

First Trust Direct Indexing L.P. raised its holdings in shares of Eversource Energy (NYSE:ES) by 15.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 10,051 shares of the utilities provider’s stock after purchasing an additional 1,345 shares during the period. First Trust Direct Indexing L.P.’s holdings in Eversource Energy were worth $684,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. ClearBridge Investments Ltd bought a new position in shares of Eversource Energy in the 1st quarter worth approximately $156,093,000. Zimmer Partners LP raised its position in shares of Eversource Energy by 730.4% in the 1st quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after acquiring an additional 2,231,585 shares in the last quarter. Mitsubishi UFJ Trust & Banking Corp raised its position in shares of Eversource Energy by 65.0% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock worth $227,929,000 after acquiring an additional 1,524,341 shares in the last quarter. M&G Plc bought a new position in shares of Eversource Energy in the 1st quarter worth approximately $83,539,000. Finally, BROOKFIELD Corp ON bought a new position in shares of Eversource Energy in the 1st quarter worth approximately $65,389,000. Institutional investors own 79.99% of the company’s stock.

Insider Transactions at Eversource Energy

In other news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $64.94, for a total value of $32,470.00. Following the transaction, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at approximately $591,596. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on ES shares. Bank of America upped their price target on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Mizuho upped their price target on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. BMO Capital Markets cut their price target on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Morgan Stanley upped their price target on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. Finally, Barclays upped their price target on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research note on Tuesday, October 15th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to MarketBeat, Eversource Energy has an average rating of “Hold” and a consensus target price of $70.07.

Eversource Energy Stock Performance

Shares of ES opened at $63.67 on Friday. The business’s fifty day simple moving average is $66.42 and its two-hundred day simple moving average is $62.76. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01. The company has a market cap of $22.76 billion, a price-to-earnings ratio of -235.81, a P/E/G ratio of 2.57 and a beta of 0.61.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.95. The firm had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company’s revenue for the quarter was down 3.7% on a year-over-year basis. During the same period last year, the business posted $1.00 EPS. Research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were paid a $0.715 dividend. The ex-dividend date of this dividend was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.49%. Eversource Energy’s dividend payout ratio (DPR) is currently -1,059.26%.

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.