Axxcess Wealth Management LLC Invests $275,000 in Eversource Energy (NYSE:ES)

Axxcess Wealth Management LLC bought a new stake in Eversource Energy (NYSE:ESFree Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 4,462 shares of the utilities provider’s stock, valued at approximately $275,000.

Several other large investors also recently bought and sold shares of ES. Charles Schwab Investment Management Inc. lifted its stake in Eversource Energy by 1.9% in 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 purchasing an additional 134,492 shares during the last quarter. Legal & General Group Plc boosted its holdings in Eversource Energy by 2.5% during the 3rd quarter. Legal & General Group Plc now owns 6,628,663 shares of the utilities provider’s stock valued at $385,457,000 after acquiring an additional 163,053 shares during the period. Nordea Investment Management AB boosted its holdings in Eversource Energy by 8.2% during the 4th quarter. Nordea Investment Management AB now owns 6,299,800 shares of the utilities provider’s stock valued at $388,509,000 after acquiring an additional 475,341 shares during the period. 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 acquiring an additional 723,318 shares during the last quarter. Finally, Northern Trust Corp increased its stake in Eversource Energy by 2.7% in the third quarter. Northern Trust Corp now owns 4,237,474 shares of the utilities provider’s stock worth $246,409,000 after purchasing an additional 111,294 shares during the period. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

ES opened at $61.76 on Friday. The company has a market cap of $21.76 billion, a P/E ratio of -52.34, a price-to-earnings-growth ratio of 3.21 and a beta of 0.57. The company has a quick ratio of 0.59, a current ratio of 0.67 and a debt-to-equity ratio of 1.66. The firm’s 50-day moving average price is $59.30 and its 200-day moving average price is $58.25. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $77.53.

Eversource Energy (NYSE:ESGet Free Report) last released its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate 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 company 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 firm earned $1.41 EPS. Eversource Energy’s revenue was down 12.2% compared to the same quarter last year. As a group, equities analysts anticipate that Eversource Energy will post 4.49 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.63%. The ex-dividend date is Wednesday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is -242.37%.

Insider Buying and Selling

In related news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction on Monday, February 26th. The shares were sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the transaction, the insider now owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction that occurred on Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the transaction, the insider now directly owns 21,621 shares in the company, valued at $1,245,369.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Linda Dorcena Forry sold 822 shares of Eversource Energy stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The disclosure for this sale can be found here. 0.41% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Guggenheim raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $60.00 to $72.00 in a research note on Monday, January 22nd. Citigroup lifted their price target on shares of Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a research note on Thursday, February 15th. Wells Fargo & Company increased their price objective on Eversource Energy from $69.00 to $72.00 and gave the stock an “overweight” rating in a research note on Friday, May 3rd. BMO Capital Markets raised their price objective on Eversource Energy from $65.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Finally, StockNews.com upgraded Eversource Energy to a “sell” rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Eversource Energy has a consensus rating of “Hold” and a consensus target price of $66.23.

Check Out Our Latest Stock Analysis on ES

About Eversource Energy

(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.

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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