Schechter Investment Advisors LLC Sells 1,100 Shares of Eversource Energy (NYSE:ES)

Posted by Defense World Staff on Jul 21st, 2023

Schechter Investment Advisors LLC trimmed its position in Eversource Energy (NYSE:ES – Free Report) by 27.7% during the first quarter, according to its most recent 13F filing with the SEC. The fund owned 2,867 shares of the utilities provider’s stock after selling 1,100 shares during the period. Schechter Investment Advisors LLC’s holdings in Eversource Energy were worth $224,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Moneta Group Investment Advisors LLC boosted its position in shares of Eversource Energy by 101,201.5% in the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,617,104 shares of the utilities provider’s stock worth $1,057,818,000 after purchasing an additional 12,604,649 shares during the last quarter. Wells Fargo & Company MN boosted its position in shares of Eversource Energy by 0.3% in the 4th quarter. Wells Fargo & Company MN now owns 7,542,540 shares of the utilities provider’s stock worth $632,367,000 after purchasing an additional 24,784 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Eversource Energy by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 7,423,829 shares of the utilities provider’s stock worth $621,332,000 after purchasing an additional 184,614 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Eversource Energy by 1.5% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 6,566,970 shares of the utilities provider’s stock worth $531,599,000 after purchasing an additional 97,353 shares during the last quarter. Finally, Legal & General Group Plc boosted its position in shares of Eversource Energy by 1.3% in the 4th quarter. Legal & General Group Plc now owns 5,632,170 shares of the utilities provider’s stock worth $472,202,000 after purchasing an additional 69,826 shares during the last quarter. 83.25% of the stock is currently owned by institutional investors.

Eversource Energy Stock Performance

ES opened at $73.51 on Friday. The business’s 50-day moving average price is $71.40 and its two-hundred day moving average price is $76.32. Eversource Energy has a 1 year low of $67.79 and a 1 year high of $94.41. The company has a market capitalization of $25.64 billion, a price-to-earnings ratio of 17.63, a P/E/G ratio of 2.61 and a beta of 0.47. The company has a debt-to-equity ratio of 1.31, a current ratio of 0.65 and a quick ratio of 0.58.

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

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, June 30th. Investors of record on Thursday, May 18th were given a $0.675 dividend. This represents a $2.70 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date was Wednesday, May 17th. Eversource Energy’s dividend payout ratio is currently 64.75%.

Analyst Ratings Changes

Several research firms have recently issued reports on ES. Guggenheim reduced their price target on Eversource Energy from $91.00 to $86.00 in a research report on Friday, July 7th. Scotiabank upgraded Eversource Energy from a “sector perform” rating to a “sector outperform” rating and set a $91.00 target price on the stock in a report on Thursday, June 15th. UBS Group reduced their target price on Eversource Energy from $81.00 to $75.00 in a report on Friday, May 26th. Citigroup reduced their target price on Eversource Energy from $86.00 to $80.00 in a report on Sunday, July 16th. Finally, JPMorgan Chase & Co. reduced their target price on Eversource Energy from $87.00 to $78.00 in a report on Wednesday, June 7th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the stock. According to data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and a consensus price target of $85.08.

Eversource Energy Profile

(Free Report)

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.