Bank of Montreal Can Increases Stock Position in Eversource Energy (NYSE:ES)

Bank of Montreal Can raised its holdings in Eversource Energy (NYSE:ES) by 5.2% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 625,162 shares of the utilities provider’s stock after purchasing an additional 30,903 shares during the period. Bank of Montreal Can’s holdings in Eversource Energy were worth $42,211,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Bensler LLC purchased a new stake in shares of Eversource Energy in the second quarter valued at about $316,000. M&G Plc lifted its holdings in shares of Eversource Energy by 16.8% in the second quarter. M&G Plc now owns 1,626,685 shares of the utilities provider’s stock valued at $92,721,000 after purchasing an additional 234,361 shares in the last quarter. Landscape Capital Management L.L.C. lifted its holdings in shares of Eversource Energy by 46.9% in the third quarter. Landscape Capital Management L.L.C. now owns 31,605 shares of the utilities provider’s stock valued at $2,151,000 after purchasing an additional 10,093 shares in the last quarter. Cetera Investment Advisers lifted its holdings in shares of Eversource Energy by 283.2% in the first quarter. Cetera Investment Advisers now owns 91,062 shares of the utilities provider’s stock valued at $5,443,000 after purchasing an additional 67,300 shares in the last quarter. Finally, Toronto Dominion Bank lifted its holdings in shares of Eversource Energy by 23.2% in the second quarter. Toronto Dominion Bank now owns 134,647 shares of the utilities provider’s stock valued at $7,636,000 after purchasing an additional 25,377 shares in the last quarter. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on ES shares. Bank of America upped their price objective on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. BMO Capital Markets reduced their price objective on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research note on Tuesday, October 15th. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Mizuho upped their price objective on shares of Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a research note on Wednesday, October 2nd. Finally, Scotiabank upped their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Eight equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, Eversource Energy presently has an average rating of “Hold” and an average price target of $70.46.

Eversource Energy Price Performance

Eversource Energy stock opened at $64.59 on Friday. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01. The firm has a fifty day moving average of $64.39 and a 200-day moving average of $62.98. The firm has a market capitalization of $23.67 billion, a P/E ratio of -41.14, a PEG ratio of 2.56 and a beta of 0.61. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.08 by $0.05. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The company had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. During the same quarter in the prior year, the business earned $0.97 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, analysts predict that Eversource Energy will post 4.56 EPS for the current year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Stockholders of record on Monday, September 23rd were given a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 4.43%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s payout ratio is currently -182.17%.

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.