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

Invenomic Capital Management LP reduced its position in shares of Eversource Energy (NYSE:ES) by 35.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 626,648 shares of the utilities provider’s stock after selling 347,339 shares during the period. Eversource Energy comprises about 2.3% of Invenomic Capital Management LP’s holdings, making the stock its 6th largest holding. Invenomic Capital Management LP owned about 0.17% of Eversource Energy worth $42,643,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also modified their holdings of ES. Los Angeles Capital Management LLC raised its holdings in shares of Eversource Energy by 201.4% in the second quarter. Los Angeles Capital Management LLC now owns 974,665 shares of the utilities provider’s stock worth $55,273,000 after acquiring an additional 651,263 shares during the last quarter. Millennium Management LLC grew its position in Eversource Energy by 75.8% in the second quarter. Millennium Management LLC now owns 1,307,397 shares of the utilities provider’s stock worth $74,142,000 after buying an additional 563,756 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of Eversource Energy by 26.9% in the 2nd quarter. Hsbc Holdings PLC now owns 1,765,481 shares of the utilities provider’s stock valued at $100,110,000 after acquiring an additional 374,458 shares in the last quarter. Bank of New York Mellon Corp raised its position in Eversource Energy by 12.7% in the 2nd quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock worth $177,823,000 after purchasing an additional 354,429 shares during the period. Finally, International Assets Investment Management LLC bought a new stake in Eversource Energy during the 3rd quarter valued at approximately $176,214,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ES shares. BMO Capital Markets lowered their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Barclays increased their price target on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a report on Tuesday, October 15th. Bank of America raised their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research report on Thursday, August 29th. Jefferies Financial Group began coverage on Eversource Energy in a research report on Tuesday. They set an “underperform” rating and a $52.00 price objective for the company. Finally, Scotiabank raised their price target on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and six have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $69.15.

Eversource Energy Price Performance

Eversource Energy stock opened at $63.60 on Tuesday. The stock has a market capitalization of $23.30 billion, a P/E ratio of -40.55, a P/E/G ratio of 2.58 and a beta of 0.60. Eversource Energy has a 12-month low of $52.09 and a 12-month high of $69.01. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. The firm’s 50-day moving average is $64.33 and its two-hundred day moving average is $63.03.

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

Eversource Energy Announces Dividend

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

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.