Invenomic Capital Management LP Boosts Stock Holdings in Eversource Energy (NYSE:ES)

Invenomic Capital Management LP grew its holdings in shares of Eversource Energy (NYSE:ES) by 43.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 706,633 shares of the utilities provider’s stock after buying an additional 213,293 shares during the quarter. Eversource Energy accounts for approximately 2.2% of Invenomic Capital Management LP’s holdings, making the stock its 7th biggest holding. Invenomic Capital Management LP owned approximately 0.20% of Eversource Energy worth $42,235,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Raymond James Financial Services Advisors Inc. boosted its stake in Eversource Energy by 1.9% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 157,797 shares of the utilities provider’s stock worth $9,739,000 after buying an additional 2,914 shares during the period. Blue Trust Inc. grew its holdings in Eversource Energy by 172.7% during the 4th quarter. Blue Trust Inc. now owns 758 shares of the utilities provider’s stock valued at $44,000 after purchasing an additional 480 shares during the last quarter. Caprock Group LLC raised its position in Eversource Energy by 11.1% in the 4th 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 during the period. Quent Capital LLC lifted its stake in Eversource Energy by 26.7% in the fourth quarter. Quent Capital LLC now owns 1,361 shares of the utilities provider’s stock worth $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% during the fourth quarter. JB Capital LLC now owns 21,381 shares of the utilities provider’s stock valued at $1,320,000 after buying an additional 858 shares during the period. Institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on ES shares. Barclays lifted their target price on Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd. Bank of America upgraded shares of Eversource Energy from an “underperform” rating to a “neutral” rating and set a $61.00 target price on the stock in a research note on Tuesday, June 25th. Wells Fargo & Company lifted their price target on shares of Eversource Energy from $69.00 to $72.00 and gave the company an “overweight” rating in a research note on Friday, May 3rd. UBS Group raised Eversource Energy from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $62.00 to $67.00 in a research note on Thursday, April 4th. Finally, StockNews.com lowered Eversource Energy from a “hold” rating to a “sell” rating in a research report on Saturday. One analyst has rated the stock with a sell rating, eight have issued a hold rating and six have assigned a buy rating to the stock. According to data from MarketBeat.com, Eversource Energy has an average rating of “Hold” and a consensus target price of $66.43.

Insider Activity at Eversource Energy

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

Eversource Energy Stock Performance

NYSE:ES traded up $1.02 during trading hours on Tuesday, hitting $65.96. 1,987,520 shares of the company were exchanged, compared to its average volume of 2,523,191. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.77 and a quick ratio of 0.68. Eversource Energy has a 52-week low of $52.03 and a 52-week high of $72.93. The stock has a market capitalization of $23.24 billion, a price-to-earnings ratio of -55.90, a PEG ratio of 2.46 and a beta of 0.60. The company’s 50 day moving average price is $59.01 and its 200-day moving average price is $58.48.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 EPS for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The company had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.69 billion. Eversource Energy had a positive return on equity of 10.32% and a negative net margin of 3.60%. The firm’s revenue was down 12.2% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.41 EPS. As a group, research analysts forecast that Eversource Energy will post 4.57 earnings per share for the current year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, June 28th. Investors of record on Thursday, May 16th were given a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 4.34%. The ex-dividend date was Wednesday, May 15th. Eversource Energy’s dividend payout ratio is currently -242.37%.

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.