Bank of Montreal Can Grows Stock Holdings in Eversource Energy (NYSE:ES)

Bank of Montreal Can lifted its position in shares of Eversource Energy (NYSE:ES) by 5.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 625,162 shares of the utilities provider’s stock after purchasing an additional 30,903 shares during the period. Bank of Montreal Can owned about 0.17% of Eversource Energy worth $42,211,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. Public Sector Pension Investment Board lifted its position in Eversource Energy by 0.6% in the second quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock valued at $191,979,000 after acquiring an additional 20,207 shares during the last quarter. Bank of New York Mellon Corp lifted its position in Eversource Energy by 12.7% in the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock valued at $177,823,000 after acquiring an additional 354,429 shares during the last quarter. Hsbc Holdings PLC lifted its position in Eversource Energy by 26.9% in the second quarter. Hsbc Holdings PLC now owns 1,765,481 shares of the utilities provider’s stock valued at $100,110,000 after acquiring an additional 374,458 shares during the last quarter. M&G Plc lifted its position in 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 acquiring an additional 234,361 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its position in Eversource Energy by 10.1% in the second quarter. Dimensional Fund Advisors LP now owns 1,323,319 shares of the utilities provider’s stock valued at $75,051,000 after acquiring an additional 121,663 shares during the last quarter. 79.99% of the stock is owned by hedge funds and other institutional investors.

Eversource Energy Trading Up 1.6 %

Shares of Eversource Energy stock opened at $64.59 on Friday. The company has a quick ratio of 0.76, a current ratio of 0.86 and a debt-to-equity ratio of 1.73. The company’s 50-day simple moving average is $64.39 and its 200-day simple moving average is $62.98. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01. The firm has a market cap of $23.67 billion, a price-to-earnings ratio of -41.14, a price-to-earnings-growth ratio of 2.56 and a beta of 0.61.

Eversource Energy (NYSE:ES) last issued its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share 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 for the quarter, compared to analyst estimates of $3.06 billion. During the same period in the prior year, the business posted $0.97 earnings per share. The firm’s revenue for the quarter was up 9.7% compared to the same quarter last year. As a group, equities research analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the stock. BMO Capital Markets reduced their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a research report on Tuesday, October 15th. Bank of America lifted 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. Wells Fargo & Company lifted their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the company an “overweight” rating in a research note on Friday, August 2nd. Morgan Stanley lifted their price objective on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research note on Friday, August 23rd. Finally, Scotiabank lifted 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 investment analysts have rated the stock with a hold rating and six have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $70.46.

About Eversource Energy

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.