BlackRock Maintains 10.6% Stake in Eversource Energy
Ticker: ES · Form: SC 13G/A · Filed: Jan 24, 2024 · CIK: 72741
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, passive-investment, utility-sector
TL;DR
**BlackRock still owns 10.6% of Eversource, a big vote of confidence!**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 24, 2024, disclosing its ownership of 37,249,004 shares of Eversource Energy (ES) common stock as of December 31, 2023. This represents a 10.6% stake in the utility company. This filing indicates BlackRock's continued significant passive investment in Eversource, which is important for investors as large institutional holdings can provide a degree of stability and confidence in the stock.
Why It Matters
This filing confirms BlackRock's substantial, but passive, ownership in Eversource, signaling their ongoing confidence in the company without seeking to influence management.
Risk Assessment
Risk Level: low — This filing is a routine update from a large institutional investor and does not indicate any immediate risks or changes to the company's operations.
Analyst Insight
Investors should note BlackRock's continued significant, passive stake in Eversource Energy, which suggests institutional confidence in the company's long-term stability as a utility.
Key Numbers
- 37,249,004 — Shares Owned (BlackRock's total beneficial ownership of Eversource Energy common stock.)
- 10.6% — Ownership Percentage (BlackRock's stake in Eversource Energy, indicating a significant institutional holding.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- Eversource Energy (company) — the subject company whose shares are being reported
- 37,249,004 shares (dollar_amount) — the total number of shares of Eversource Energy common stock beneficially owned by BlackRock Inc.
- 10.6% (dollar_amount) — the percentage of Eversource Energy's class of securities beneficially owned by BlackRock Inc.
- December 31, 2023 (date) — the date of the event which required the filing of this statement
Forward-Looking Statements
- BlackRock will likely maintain its passive investment in Eversource Energy. (BlackRock Inc.) — high confidence, target: next 12 months
FAQ
Who filed this SC 13G/A amendment?
This SC 13G/A amendment was filed by BlackRock Inc., as indicated in the 'FILED BY' section of the filing.
What company's shares are being reported in this filing?
The shares of Eversource Energy (CIK: 0000072741) are being reported, as stated under 'SUBJECT COMPANY' and 'Name of Issuer'.
What was the date of the event that triggered this filing?
The date of the event which required the filing of this statement was December 31, 2023, as specified in the filing.
How many shares of Eversource Energy does BlackRock Inc. beneficially own according to this filing?
BlackRock Inc. beneficially owns 37,249,004 shares of Eversource Energy common stock, as detailed in the filing.
What percentage of Eversource Energy's common stock does BlackRock Inc. own?
BlackRock Inc. owns 10.6% of Eversource Energy's common stock, as reported in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 24, 2024 regarding EVERSOURCE ENERGY (ES).