Genus Capital Management Inc. Buys Shares of 27,100 Eversource Energy (NYSE:ES)

Genus Capital Management Inc. acquired a new stake in Eversource Energy (NYSE:ES - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 27,100 shares of the utilities provider's stock, valued at approximately $1,683,000.

A number of other hedge funds and other institutional investors have also modified their holdings of ES. Wellington Management Group LLP raised its holdings in Eversource Energy by 38.6% during the fourth quarter. Wellington Management Group LLP now owns 16,470,356 shares of the utilities provider's stock worth $945,893,000 after purchasing an additional 4,585,232 shares in the last quarter. Norges Bank acquired a new stake in Eversource Energy during the 4th quarter worth $188,838,000. Vanguard Group Inc. lifted its position in 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 acquiring an additional 1,387,072 shares during the last quarter. Vest Financial LLC purchased a new stake in Eversource Energy in the first quarter valued at $60,273,000. Finally, Magellan Asset Management Ltd boosted its stake in 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 acquiring an additional 890,514 shares in the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of the business's stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the sale, the executive vice president directly owned 10,988 shares in the company, valued at approximately $703,232. The trade was a 19.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on ES. JPMorgan Chase & Co. reissued an "underweight" rating and issued a $58.00 target price (down from $69.00) on shares of Eversource Energy in a report on Thursday, April 10th. BMO Capital Markets lifted their price target on Eversource Energy from $71.00 to $72.00 and gave the stock a "market perform" rating in a research report on Monday, April 28th. Mizuho increased their price objective on Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a report on Wednesday, June 25th. Finally, Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research report on Friday, May 16th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, the company currently has a consensus rating of "Hold" and a consensus price target of $65.67.

Eversource Energy Stock Performance

Shares of NYSE:ES traded down $0.42 during trading on Friday, reaching $65.69. The company had a trading volume of 1,605,848 shares, compared to its average volume of 2,493,292. Eversource Energy has a fifty-two week low of $52.28 and a fifty-two week high of $69.01. The company has a debt-to-equity ratio of 1.71, a current ratio of 0.75 and a quick ratio of 0.66. The stock's fifty day moving average price is $63.82 and its 200 day moving average price is $60.72. The firm has a market capitalization of $24.13 billion, a price-to-earnings ratio of 28.31, a price-to-earnings-growth ratio of 2.45 and a beta of 0.62.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The utilities provider reported $1.50 earnings per share for the quarter, meeting analysts' consensus estimates of $1.50. The firm had revenue of $4.12 billion for the quarter, compared to analyst estimates of $3.65 billion. Eversource Energy had a net margin of 6.63% and a return on equity of 11.04%. Eversource Energy's quarterly revenue was up 23.6% on a year-over-year basis. During the same period last year, the firm posted $1.49 EPS. As a group, equities research analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Monday, June 30th. Investors of record on Thursday, May 15th were issued a dividend of $0.7525 per share. The ex-dividend date was Thursday, May 15th. This represents a $3.01 annualized dividend and a yield of 4.58%. Eversource Energy's dividend payout ratio is currently 129.74%.

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.