Invenomic Capital Management LP Acquires 223,050 Shares of Eversource Energy (NYSE:ES)

Invenomic Capital Management LP lifted its holdings in shares of Eversource Energy (NYSE:ES) by 35.6% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 849,698 shares of the utilities provider’s stock after buying an additional 223,050 shares during the period. Eversource Energy comprises about 2.3% of Invenomic Capital Management LP’s portfolio, making the stock its 3rd biggest holding. Invenomic Capital Management LP owned about 0.23% of Eversource Energy worth $48,798,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of ES. Vanguard Group Inc. boosted its holdings in shares of Eversource Energy by 3.2% during the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock valued at $2,561,936,000 after acquiring an additional 1,387,072 shares in the last quarter. Wellington Management Group LLP boosted its stake in shares of Eversource Energy by 38.6% during the fourth quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider’s stock valued at $945,893,000 after purchasing an additional 4,585,232 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of Eversource Energy by 2.3% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider’s stock worth $570,500,000 after purchasing an additional 226,972 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Eversource Energy by 5.7% in the fourth quarter. Geode Capital Management LLC now owns 9,557,213 shares of the utilities provider’s stock valued at $547,550,000 after buying an additional 517,042 shares during the period. Finally, FMR LLC raised its holdings in Eversource Energy by 4.8% in the 4th quarter. FMR LLC now owns 7,352,593 shares of the utilities provider’s stock valued at $422,259,000 after buying an additional 333,529 shares during the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Barclays dropped their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Wells Fargo & Company cut their target price on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a report on Thursday, February 13th. Jefferies Financial Group decreased their price target on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th. Scotiabank lowered their price objective on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research report on Thursday, February 13th. Finally, BMO Capital Markets upped their target price on Eversource Energy from $71.00 to $72.00 and gave the company a “market perform” rating in a report on Monday, April 28th. Three investment analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $65.78.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $62.97 on Friday. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $69.01. The stock’s 50 day moving average is $59.35 and its 200-day moving average is $59.93. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $23.13 billion, a price-to-earnings ratio of 27.26, a PEG ratio of 2.35 and a beta of 0.61.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, hitting the consensus estimate of $1.50. The firm had revenue of $4.12 billion for the quarter, compared to the consensus estimate of $3.65 billion. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. The business’s revenue was up 23.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.49 earnings per share. Sell-side analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.7525 per share. The ex-dividend date is Thursday, May 15th. This represents a $3.01 dividend on an annualized basis and a yield of 4.78%. Eversource Energy’s dividend payout ratio (DPR) is currently 129.74%.

Insiders Place Their Bets

In other news, VP Jay S. Buth sold 980 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the sale, the vice president now owns 24,374 shares in the company, valued at $1,535,318.26. This represents a 3.87 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of the firm’s stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $62.26, for a total transaction of $192,507.92. Following the transaction, the insider now directly owns 22,671 shares in the company, valued at $1,411,496.46. The trade was a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

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.