Geode Capital Management LLC Has $587.45 Million Stock Position in Eversource Energy $ES

Geode Capital Management LLC increased its position in Eversource Energy (NYSE:ES) by 2.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,273,415 shares of the utilities provider’s stock after buying an additional 211,962 shares during the period. Geode Capital Management LLC’s holdings in Eversource Energy were worth $587,449,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Trust Co. of Toledo NA OH acquired a new stake in Eversource Energy in the second quarter valued at approximately $28,000. Hilltop National Bank bought a new position in shares of Eversource Energy in the 2nd quarter worth $32,000. True Wealth Design LLC grew its position in Eversource Energy by 540.0% in the 2nd quarter. True Wealth Design LLC now owns 608 shares of the utilities provider’s stock valued at $39,000 after purchasing an additional 513 shares during the period. Zions Bancorporation National Association UT bought a new position in shares of Eversource Energy in the first quarter valued at $46,000. Finally, Bogart Wealth LLC increased its position in shares of Eversource Energy by 100.9% during the second quarter. Bogart Wealth LLC now owns 928 shares of the utilities provider’s stock worth $59,000 after acquiring an additional 466 shares in the last quarter. 79.99% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Eversource Energy

In related news, insider Loretta D. Keane bought 3,780 shares of Eversource Energy stock in a transaction on Friday, August 22nd. The stock was acquired at an average price of $66.07 per share, with a total value of $249,744.60. Following the acquisition, the insider directly owned 12,033 shares of the company’s stock, valued at $795,020.31. This 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 is available through this hyperlink. Also, EVP James W. Hunt III sold 4,129 shares of the stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $72.77, for a total transaction of $300,467.33. Following the completion of the sale, the executive vice president directly owned 32,415 shares in the company, valued at approximately $2,358,839.55. The trade was a 11.30% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Corporate insiders own 0.41% of the company’s stock.

Eversource Energy Stock Performance

Shares of ES opened at $73.31 on Friday. The stock’s fifty day moving average price is $70.78 and its two-hundred day moving average price is $66.51. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $75.25. The firm has a market cap of $27.51 billion, a PE ratio of 20.09, a PEG ratio of 2.64 and a beta of 0.69. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 EPS for the quarter, beating the consensus estimate of $1.12 by $0.07. The business had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.28 billion. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The company’s revenue was up 5.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.13 earnings per share. On average, equities research analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders 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 dividend payout ratio is currently 82.47%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ES shares. TD Cowen began coverage on Eversource Energy in a research note on Thursday, October 16th. They set a “hold” rating and a $76.00 price target for the company. Wells Fargo & Company initiated coverage on Eversource Energy in a research note on Tuesday, October 28th. They set an “overweight” rating and a $79.00 price objective on the stock. Janney Montgomery Scott reiterated a “neutral” rating on shares of Eversource Energy in a research note on Monday, October 13th. Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their price target for the company from $73.00 to $85.00 in a research report on Tuesday, October 21st. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday, October 31st. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $72.70.

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.