Millennium Management LLC Increases Stock Position in Eversource Energy (NYSE:ES)

Millennium Management LLC raised its holdings in Eversource Energy (NYSE:ES - Free Report) by 14.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 760,187 shares of the utilities provider's stock after purchasing an additional 93,247 shares during the period. Millennium Management LLC owned 0.21% of Eversource Energy worth $43,658,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ES. Wellington Management Group LLP lifted its holdings in shares of Eversource Energy by 38.6% in the fourth quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock valued at $945,893,000 after purchasing an additional 4,585,232 shares in the last quarter. Norges Bank acquired a new position in shares of Eversource Energy in the fourth quarter valued at approximately $188,838,000. Amundi raised its position in shares of Eversource Energy by 32.2% in the fourth quarter. Amundi now owns 6,482,546 shares of the utilities provider's stock valued at $367,691,000 after buying an additional 1,579,818 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Eversource Energy by 3.2% in the fourth quarter. Vanguard Group Inc. now owns 44,609,716 shares of the utilities provider's stock valued at $2,561,936,000 after buying an additional 1,387,072 shares during the last quarter. Finally, Magellan Asset Management Ltd raised its position in shares of Eversource Energy by 15.9% in the fourth quarter. Magellan Asset Management Ltd now owns 6,474,477 shares of the utilities provider's stock valued at $371,829,000 after buying an additional 890,514 shares during the last quarter. Hedge funds and other institutional investors own 79.99% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ES. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $58.00 price objective (down previously from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Scotiabank dropped their price target on shares of Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating for the company in a research report on Thursday, February 13th. Guggenheim reaffirmed a "buy" rating on shares of Eversource Energy in a research report on Monday, February 10th. Wells Fargo & Company dropped their price target on shares of Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a research report on Thursday, February 13th. Finally, Wall Street Zen raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Three analysts have rated the stock with a sell rating, five have assigned a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $65.78.

Eversource Energy Trading Up 0.6%

ES traded up $0.39 during trading on Friday, hitting $63.45. 1,587,252 shares of the company's stock were exchanged, compared to its average volume of 2,429,382. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $69.01. The stock has a 50 day moving average price of $59.88 and a 200 day moving average price of $59.84. The firm has a market cap of $23.31 billion, a P/E ratio of 27.47, a price-to-earnings-growth ratio of 2.35 and a beta of 0.61.

Eversource Energy (NYSE:ES - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 earnings per share (EPS) for the quarter, hitting the consensus estimate of $1.50. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. The company had revenue of $4.12 billion during the quarter, compared to the consensus estimate of $3.65 billion. During the same period in the previous year, the firm earned $1.49 earnings per share. Eversource Energy's revenue for the quarter was up 23.6% on a year-over-year basis. As a group, analysts expect that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 30th. Shareholders of record on Thursday, May 15th will be paid a dividend of $0.7525 per share. The ex-dividend date of this dividend is Thursday, May 15th. This represents a $3.01 annualized dividend and a yield of 4.74%. Eversource Energy's dividend payout ratio is currently 129.74%.

Insiders Place Their Bets

In other news, EVP Penelope M. Conner sold 2,600 shares of the company's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total value of $166,400.00. Following the completion of the transaction, the executive vice president now directly owns 10,988 shares in the company, valued at approximately $703,232. This represents a 19.13% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.41% of the stock is owned by 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.