Genus Capital Management Inc. Raises Position in Eversource Energy $ES

Genus Capital Management Inc. increased its holdings in Eversource Energy (NYSE:ES) by 71.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,400 shares of the utilities provider’s stock after purchasing an additional 19,300 shares during the quarter. Genus Capital Management Inc.’s holdings in Eversource Energy were worth $2,952,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in ES. Trust Co. of Toledo NA OH purchased a new position in Eversource Energy in the 2nd quarter worth $28,000. Hilltop National Bank purchased a new position in Eversource Energy in the 2nd quarter worth $32,000. Zions Bancorporation National Association UT purchased a new position in Eversource Energy in the 1st quarter worth $46,000. Cromwell Holdings LLC raised its position in Eversource Energy by 44.2% in the 1st quarter. Cromwell Holdings LLC now owns 829 shares of the utilities provider’s stock worth $51,000 after purchasing an additional 254 shares during the period. Finally, Bogart Wealth LLC raised its position in Eversource Energy by 100.9% in the 2nd quarter. Bogart Wealth LLC now owns 928 shares of the utilities provider’s stock worth $59,000 after purchasing an additional 466 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

ES has been the subject of several recent analyst reports. Jefferies Financial Group upped their price objective on shares of Eversource Energy from $54.00 to $60.00 and gave the company an “underperform” rating in a research note on Wednesday, October 22nd. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Eversource Energy in a research note on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research note on Friday, October 31st. Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their price objective for the company from $73.00 to $85.00 in a research note on Tuesday, October 21st. Finally, Wells Fargo & Company initiated coverage on shares of Eversource Energy in a research note on Tuesday, October 28th. They set an “overweight” rating and a $79.00 price objective for the company. Four research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $70.56.

Eversource Energy Price Performance

Shares of NYSE ES opened at $73.83 on Wednesday. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $75.25. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. The company’s 50-day moving average is $69.33 and its 200 day moving average is $65.78. The stock has a market capitalization of $27.40 billion, a P/E ratio of 31.69, a P/E/G ratio of 2.67 and a beta of 0.69.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.07. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The company had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter in the previous year, the company earned $1.13 earnings per share. Eversource Energy’s quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were given a dividend of $0.7525 per share. The ex-dividend date was Monday, September 22nd. This represents a $3.01 annualized dividend and a dividend yield of 4.1%. Eversource Energy’s payout ratio is currently 129.18%.

Insider Activity

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were acquired at an average price of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the acquisition, the insider owned 12,033 shares in the company, valued at $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.19% of the stock is owned by corporate insiders.

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.