Wellington Management Group LLP Raises Stock Holdings in Eversource Energy (NYSE:ES)

Wellington Management Group LLP boosted its holdings in Eversource Energy (NYSE:ES) by 38.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 16,470,356 shares of the utilities provider’s stock after purchasing an additional 4,585,232 shares during the period. Wellington Management Group LLP owned about 4.49% of Eversource Energy worth $945,893,000 as of its most recent SEC filing.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Eversource Energy by 3.2% in the 4th quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider’s stock worth $2,561,936,000 after buying an additional 1,387,072 shares during the last quarter. State Street Corp raised its position in Eversource Energy by 1.7% in the third quarter. State Street Corp now owns 25,539,895 shares of the utilities provider’s stock worth $1,737,990,000 after acquiring an additional 430,587 shares during the period. Charles Schwab Investment Management Inc. boosted its stake in Eversource Energy by 2.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 9,933,838 shares of the utilities provider’s stock valued at $570,500,000 after acquiring an additional 226,972 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Eversource Energy by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 9,040,171 shares of the utilities provider’s stock valued at $613,233,000 after acquiring an additional 268,588 shares during the period. Finally, Amundi increased its stake in shares of Eversource Energy by 32.2% during the 4th quarter. Amundi now owns 6,482,546 shares of the utilities provider’s stock worth $367,691,000 after purchasing an additional 1,579,818 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Price Performance

Shares of NYSE ES opened at $62.19 on Tuesday. 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 stock’s 50-day simple moving average is $60.36 and its two-hundred day simple moving average is $61.50. The firm has a market capitalization of $22.83 billion, a P/E ratio of 26.92, a P/E/G ratio of 2.35 and a beta of 0.60. Eversource Energy has a twelve month low of $54.75 and a twelve month high of $69.01.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, topping analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. As a group, equities analysts anticipate that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Stockholders of record on Tuesday, March 4th were issued a $0.7525 dividend. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.84%. The ex-dividend date was Tuesday, March 4th. Eversource Energy’s dividend payout ratio is presently 130.30%.

Insider Activity

In related news, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction on 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 owns 22,671 shares of the company’s stock, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jay S. Buth sold 980 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $62.99, for a total transaction of $61,730.20. Following the completion of the sale, the vice president now directly owns 24,374 shares of the company’s stock, valued at $1,535,318.26. This represents a 3.87 % 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.

Analyst Upgrades and Downgrades

Several research firms recently commented on ES. Barclays dropped their price objective on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a research note on Wednesday, January 22nd. Scotiabank cut their price target on Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research note on Thursday, February 13th. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. Finally, Jefferies Financial Group lowered their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research report on Tuesday, January 28th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $67.40.

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.