Eversource Energy (NYSE:ES) Stock Holdings Boosted by Invenomic Capital Management LP

Invenomic Capital Management LP grew its stake in shares of Eversource Energy (NYSE:ES) by 43.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 706,633 shares of the utilities provider’s stock after purchasing an additional 213,293 shares during the quarter. Eversource Energy makes up about 2.2% of Invenomic Capital Management LP’s holdings, making the stock its 7th biggest position. Invenomic Capital Management LP’s holdings in Eversource Energy were worth $42,235,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Raymond James Financial Services Advisors Inc. raised its stake in Eversource Energy by 1.9% during the 4th quarter. Raymond James Financial Services Advisors Inc. now owns 157,797 shares of the utilities provider’s stock worth $9,739,000 after acquiring an additional 2,914 shares in the last quarter. Blue Trust Inc. grew its holdings in shares of Eversource Energy by 172.7% during the fourth quarter. Blue Trust Inc. now owns 758 shares of the utilities provider’s stock worth $44,000 after purchasing an additional 480 shares during the last quarter. Caprock Group LLC increased its position in shares of Eversource Energy by 11.1% during the fourth quarter. Caprock Group LLC now owns 19,554 shares of the utilities provider’s stock worth $1,207,000 after purchasing an additional 1,952 shares in the last quarter. Quent Capital LLC lifted its holdings in shares of Eversource Energy by 26.7% in the 4th quarter. Quent Capital LLC now owns 1,361 shares of the utilities provider’s stock valued at $84,000 after purchasing an additional 287 shares during the last quarter. Finally, JB Capital LLC boosted its position in shares of Eversource Energy by 4.2% in the 4th quarter. JB Capital LLC now owns 21,381 shares of the utilities provider’s stock valued at $1,320,000 after purchasing an additional 858 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analyst Ratings Changes

ES has been the topic of several research analyst reports. StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday. BMO Capital Markets upped their price target on shares of Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a research report on Friday, May 3rd. The Goldman Sachs Group began coverage on shares of Eversource Energy in a research note on Wednesday, April 10th. They set a “buy” rating and a $73.00 price target for the company. UBS Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $62.00 to $67.00 in a research note on Thursday, April 4th. Finally, Morgan Stanley decreased their target price on shares of Eversource Energy from $70.00 to $67.00 and set an “equal weight” rating for the company in a research note on Monday, June 24th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $66.43.

Eversource Energy Price Performance

Shares of Eversource Energy stock traded up $1.02 during trading on Tuesday, reaching $65.96. The company’s stock had a trading volume of 1,987,520 shares, compared to its average volume of 2,523,191. The business has a 50 day moving average price of $59.01 and a 200-day moving average price of $58.48. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $72.93. The company has a market capitalization of $23.24 billion, a P/E ratio of -55.90, a price-to-earnings-growth ratio of 2.46 and a beta of 0.60. The company has a quick ratio of 0.68, a current ratio of 0.77 and a debt-to-equity ratio of 1.71.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, topping the consensus estimate of $1.45 by $0.04. The company had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The business’s revenue was down 12.2% on a year-over-year basis. During the same period in the previous year, the firm earned $1.41 EPS. As a group, sell-side analysts anticipate that Eversource Energy will post 4.57 EPS for the current year.

Eversource Energy Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Thursday, May 16th were issued a $0.715 dividend. The ex-dividend date of this dividend was Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a yield of 4.34%. Eversource Energy’s dividend payout ratio (DPR) is presently -242.37%.

Insider Buying and Selling at Eversource Energy

In related news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the completion of the transaction, the vice president now directly owns 63,808 shares of the company’s stock, valued at $3,586,009.60. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, VP Gregory B. Butler sold 10,000 shares of the stock in a transaction dated Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total value of $562,000.00. Following the sale, the vice president now directly owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, EVP Penelope M. Conner sold 2,700 shares of Eversource Energy stock in a transaction dated Friday, May 31st. The stock was sold at an average price of $58.75, for a total transaction of $158,625.00. Following the transaction, the executive vice president now owns 10,272 shares of the company’s stock, valued at approximately $603,480. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

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.