Geode Capital Management LLC Purchases 268,588 Shares of Eversource Energy (NYSE:ES)

Geode Capital Management LLC boosted its holdings in Eversource Energy (NYSE:ES) by 3.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,040,171 shares of the utilities provider’s stock after buying an additional 268,588 shares during the quarter. Geode Capital Management LLC owned approximately 2.47% of Eversource Energy worth $613,233,000 at the end of the most recent reporting period.

Several other hedge funds have also added to or reduced their stakes in the business. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Eversource Energy by 1.3% during the second quarter. Wealth Enhancement Advisory Services LLC now owns 53,820 shares of the utilities provider’s stock worth $3,052,000 after purchasing an additional 678 shares during the period. ORG Partners LLC bought a new position in Eversource Energy during the 2nd quarter worth $83,000. Blue Trust Inc. lifted its holdings in Eversource Energy by 41.0% during the 2nd quarter. Blue Trust Inc. now owns 998 shares of the utilities provider’s stock worth $60,000 after buying an additional 290 shares during the period. Brookstone Capital Management grew its position in shares of Eversource Energy by 9.7% in the 2nd quarter. Brookstone Capital Management now owns 26,825 shares of the utilities provider’s stock valued at $1,651,000 after buying an additional 2,379 shares during the last quarter. Finally, Raymond James & Associates increased its stake in shares of Eversource Energy by 2.1% in the second quarter. Raymond James & Associates now owns 170,963 shares of the utilities provider’s stock valued at $9,695,000 after buying an additional 3,475 shares during the period. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently commented on ES shares. Morgan Stanley lifted their price objective on Eversource Energy from $69.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday, August 23rd. BMO Capital Markets reduced their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. Bank of America lifted their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Jefferies Financial Group initiated coverage on shares of Eversource Energy in a research report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 price target on the stock. Finally, Scotiabank lowered Eversource Energy from a “sector perform” rating to a “sector underperform” rating and lowered their price objective for the stock from $66.00 to $56.00 in a research report on Thursday. Two analysts have rated the stock with a sell rating, six have given a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $68.38.

Eversource Energy Trading Down 0.3 %

Shares of Eversource Energy stock opened at $59.79 on Friday. The stock has a market capitalization of $21.91 billion, a PE ratio of -38.08, a price-to-earnings-growth ratio of 2.40 and a beta of 0.60. Eversource Energy has a 52 week low of $52.09 and a 52 week high of $69.01. The stock has a 50 day moving average price of $63.41 and a two-hundred day moving average price of $63.08. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86.

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

Eversource Energy Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th will be issued a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.78%. The ex-dividend date is Wednesday, December 18th. Eversource Energy’s dividend payout ratio is currently -182.17%.

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.