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

Invenomic Capital Management LP lowered its stake in Eversource Energy (NYSE:ES) by 35.7% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 626,648 shares of the utilities provider’s stock after selling 347,339 shares during the quarter. Eversource Energy makes up 2.3% of Invenomic Capital Management LP’s portfolio, making the stock its 6th biggest position. Invenomic Capital Management LP’s holdings in Eversource Energy were worth $42,643,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bensler LLC purchased a new position in shares of Eversource Energy during the second quarter valued at $316,000. M&G Plc lifted its position in Eversource Energy by 16.8% in the second quarter. M&G Plc now owns 1,626,685 shares of the utilities provider’s stock valued at $92,721,000 after buying an additional 234,361 shares during the last quarter. Landscape Capital Management L.L.C. increased its position in shares of Eversource Energy by 46.9% during the third quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock worth $2,151,000 after purchasing an additional 10,093 shares in the last quarter. Cetera Investment Advisers grew its position in Eversource Energy by 283.2% in the 1st quarter. Cetera Investment Advisers now owns 91,062 shares of the utilities provider’s stock valued at $5,443,000 after buying an additional 67,300 shares during the last quarter. Finally, Toronto Dominion Bank increased its stake in Eversource Energy by 23.2% in the 2nd quarter. Toronto Dominion Bank now owns 134,647 shares of the utilities provider’s stock valued at $7,636,000 after purchasing an additional 25,377 shares in the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ES shares. Jefferies Financial Group started coverage on shares of Eversource Energy in a research note on Tuesday. They set an “underperform” rating and a $52.00 price objective on the stock. Mizuho lifted their price target on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Tuesday, November 12th. Scotiabank upped their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Morgan Stanley upped their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and six have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $69.15.

Eversource Energy Trading Down 0.1 %

ES opened at $63.60 on Tuesday. The company has a market cap of $23.30 billion, a P/E ratio of -40.55, a PEG ratio of 2.58 and a beta of 0.60. Eversource Energy has a 1-year low of $52.09 and a 1-year high of $69.01. The company’s 50 day moving average is $64.33 and its 200-day moving average is $63.03. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. The firm had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same quarter last year, the company posted $0.97 EPS. The company’s revenue for the quarter was up 9.7% on a year-over-year basis. Equities research analysts predict that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were issued a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.50%. Eversource Energy’s payout ratio is -182.17%.

About Eversource Energy

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.