Wellington Management Group LLP Buys 4,585,232 Shares of Eversource Energy (NYSE:ES)

Wellington Management Group LLP grew its position in shares of Eversource Energy (NYSE:ES) by 38.6% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,470,356 shares of the utilities provider’s stock after acquiring an additional 4,585,232 shares during the period. Wellington Management Group LLP’s holdings in Eversource Energy were worth $945,893,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC lifted its holdings in shares of Eversource Energy by 10.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 1,855 shares of the utilities provider’s stock valued at $107,000 after purchasing an additional 176 shares during the last quarter. UMB Bank n.a. grew its stake in shares of Eversource Energy by 38.4% in the fourth quarter. UMB Bank n.a. now owns 710 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 197 shares during the last quarter. Summit Trail Advisors LLC increased its holdings in shares of Eversource Energy by 4.6% during the fourth quarter. Summit Trail Advisors LLC now owns 4,893 shares of the utilities provider’s stock valued at $281,000 after acquiring an additional 216 shares in the last quarter. Keybank National Association OH raised its position in shares of Eversource Energy by 2.6% in the 4th quarter. Keybank National Association OH now owns 9,090 shares of the utilities provider’s stock worth $522,000 after purchasing an additional 233 shares during the last quarter. Finally, Whittier Trust Co. boosted its stake in Eversource Energy by 3.3% in the 4th quarter. Whittier Trust Co. now owns 7,732 shares of the utilities provider’s stock worth $444,000 after purchasing an additional 245 shares in the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Price Performance

NYSE ES opened at $62.19 on Tuesday. The company has a 50-day moving average price of $60.36 and a 200-day moving average price of $61.50. Eversource Energy has a 52 week low of $54.75 and a 52 week high of $69.01. 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 firm has a market capitalization of $22.83 billion, a P/E ratio of 26.92, a PEG ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating 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%. Equities research analysts anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 4th were paid a dividend of $0.7525 per share. The ex-dividend date of this dividend was Tuesday, March 4th. This is an increase 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%. Eversource Energy’s payout ratio is 130.30%.

Insider Buying and Selling

In other news, insider Frederica M. Williams sold 3,092 shares of the company’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total value of $192,507.92. Following the completion of the transaction, the insider now owns 22,671 shares of the company’s stock, valued at $1,411,496.46. This represents a 12.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the sale, the vice president now directly owns 24,374 shares in the company, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on ES. Guggenheim restated a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday. Jefferies Financial Group cut their target price on Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a research note on Tuesday, January 28th. Scotiabank decreased 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. Finally, Wells Fargo & Company dropped their price objective on Eversource Energy from $79.00 to $75.00 and set an “overweight” rating on the stock in a research report on Thursday, February 13th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $67.40.

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.