Mackenzie Financial Corp Has $1.74 Million Position in Eversource Energy (NYSE:ES)

Mackenzie Financial Corp lowered its holdings in shares of Eversource Energy (NYSE:ES) by 36.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,180 shares of the utilities provider’s stock after selling 16,042 shares during the period. Mackenzie Financial Corp’s holdings in Eversource Energy were worth $1,739,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Waldron Private Wealth LLC bought a new position in shares of Eversource Energy during the fourth quarter valued at $247,000. S. R. Schill & Associates bought a new position in shares of Eversource Energy during the fourth quarter valued at $297,000. Louisiana State Employees Retirement System bought a new position in shares of Eversource Energy during the fourth quarter valued at $1,302,000. Crestwood Advisors Group LLC bought a new position in shares of Eversource Energy during the fourth quarter valued at $208,000. Finally, Simplicity Solutions LLC lifted its holdings in shares of Eversource Energy by 7.1% during the fourth quarter. Simplicity Solutions LLC now owns 6,651 shares of the utilities provider’s stock valued at $411,000 after acquiring an additional 443 shares during the period. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Price Performance

Shares of ES stock opened at $60.34 on Wednesday. The stock has a 50-day moving average price of $58.81 and a 200 day moving average price of $57.90. 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 has a market cap of $21.16 billion, a price-to-earnings ratio of -47.89, a PEG ratio of 3.17 and a beta of 0.58. Eversource Energy has a 12 month low of $52.03 and a 12 month high of $79.92.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.02). The firm had revenue of $2.69 billion during the quarter, compared to analyst estimates of $3 billion. Eversource Energy had a positive return on equity of 9.92% and a negative net margin of 3.71%. Eversource Energy’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.92 earnings per share. Research analysts expect that Eversource Energy will post 4.52 EPS for the current year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 5th were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.74%. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.68. The ex-dividend date of this dividend was Monday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is presently -226.98%.

Insider Transactions at Eversource Energy

In other news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $609,388.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Frederica M. Williams sold 2,714 shares of the business’s stock in a transaction that occurred on Monday, February 26th. The stock was 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 in the company, valued at approximately $1,245,369.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were 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 owns 10,485 shares of the company’s stock, valued at $609,388.20. The disclosure for this sale can be found here. Corporate insiders own 0.29% of the company’s stock.

Wall Street Analysts Forecast Growth

ES has been the subject of a number of analyst reports. Argus cut their price objective on Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a report on Monday, March 25th. BMO Capital Markets lifted their price objective on Eversource Energy from $63.00 to $64.00 and gave the company a “market perform” rating in a report on Thursday, February 15th. Citigroup lifted their price target on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. UBS Group raised Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price target for the company from $62.00 to $67.00 in a report on Thursday, April 4th. Finally, Scotiabank cut their price target on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a report on Monday. One analyst has rated the stock with a sell rating, seven have issued a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $65.85.

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.