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

Bank of Montreal Can cut its stake in Eversource Energy (NYSE:ESGet Rating) by 6.4% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 510,098 shares of the utilities provider’s stock after selling 35,146 shares during the period. Bank of Montreal Can’s holdings in Eversource Energy were worth $46,505,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. Parcion Private Wealth LLC lifted its holdings in Eversource Energy by 4.3% in the third quarter. Parcion Private Wealth LLC now owns 3,090 shares of the utilities provider’s stock worth $266,000 after buying an additional 126 shares during the period. FineMark National Bank & Trust lifted its holdings in Eversource Energy by 2.9% in the third quarter. FineMark National Bank & Trust now owns 4,626 shares of the utilities provider’s stock worth $378,000 after buying an additional 130 shares during the period. Whittier Trust Co. of Nevada Inc. lifted its holdings in Eversource Energy by 13.5% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,103 shares of the utilities provider’s stock worth $100,000 after buying an additional 131 shares during the period. Veritable L.P. lifted its holdings in Eversource Energy by 1.8% in the third quarter. Veritable L.P. now owns 7,293 shares of the utilities provider’s stock worth $596,000 after buying an additional 132 shares during the period. Finally, Jacobi Capital Management LLC lifted its holdings in Eversource Energy by 11.5% in the third quarter. Jacobi Capital Management LLC now owns 1,326 shares of the utilities provider’s stock worth $108,000 after buying an additional 137 shares during the period. Institutional investors and hedge funds own 80.74% of the company’s stock.

In other Eversource Energy news, insider Frederica M. Williams sold 1,859 shares of Eversource Energy stock in a transaction that occurred on Monday, May 9th. The shares were sold at an average price of $90.84, for a total value of $168,871.56. Following the completion of the sale, the insider now owns 20,286 shares of the company’s stock, valued at approximately $1,842,780.24. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP James W. Hunt III sold 4,444 shares of Eversource Energy stock in a transaction that occurred on Tuesday, April 5th. The stock was sold at an average price of $90.00, for a total transaction of $399,960.00. Following the completion of the sale, the executive vice president now directly owns 16,115 shares of the company’s stock, valued at approximately $1,450,350. The disclosure for this sale can be found here. In the last ninety days, insiders sold 10,374 shares of company stock valued at $902,881. 0.38% of the stock is currently owned by insiders.

Shares of ES opened at $90.37 on Friday. The company has a market capitalization of $31.17 billion, a P/E ratio of 24.03, a price-to-earnings-growth ratio of 3.50 and a beta of 0.42. The company has a quick ratio of 0.57, a current ratio of 0.62 and a debt-to-equity ratio of 1.21. The firm has a 50 day moving average of $89.04 and a 200 day moving average of $86.99. Eversource Energy has a twelve month low of $78.44 and a twelve month high of $94.63.

Eversource Energy (NYSE:ESGet Rating) last posted its earnings results on Wednesday, May 4th. The utilities provider reported $1.30 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.08. Eversource Energy had a net margin of 12.32% and a return on equity of 9.52%. The business had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the previous year, the firm posted $1.15 EPS. The firm’s revenue was up 22.9% on a year-over-year basis. On average, sell-side analysts expect that Eversource Energy will post 4.11 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 30th. Shareholders of record on Thursday, May 19th will be given a $0.6375 dividend. This represents a $2.55 dividend on an annualized basis and a yield of 2.82%. The ex-dividend date is Wednesday, May 18th. Eversource Energy’s dividend payout ratio (DPR) is presently 67.82%.

Several equities analysts have recently issued reports on ES shares. Seaport Res Ptn reiterated a “buy” rating on shares of Eversource Energy in a report on Monday, March 28th. Bank of America lowered shares of Eversource Energy from a “neutral” rating to an “underperform” rating and set a $80.00 target price for the company. in a report on Wednesday, February 23rd. Credit Suisse Group started coverage on shares of Eversource Energy in a report on Tuesday, April 26th. They set a “neutral” rating and a $92.00 target price for the company. StockNews.com started coverage on shares of Eversource Energy in a report on Thursday, March 31st. They set a “hold” rating for the company. Finally, Morgan Stanley lifted their target price on shares of Eversource Energy from $90.00 to $97.00 and gave the company an “equal weight” rating in a report on Wednesday, April 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, Eversource Energy currently has an average rating of “Hold” and an average price target of $90.75.

Eversource Energy Profile (Get Rating)

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.

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Institutional Ownership by Quarter for Eversource Energy (NYSE:ES)

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