Northcape Wealth Management LLC Boosts Holdings in Eversource Energy (NYSE:ES)

Northcape Wealth Management LLC boosted its stake in Eversource Energy (NYSE:ES) by 1.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 30,353 shares of the utilities provider’s stock after acquiring an additional 402 shares during the period. Northcape Wealth Management LLC’s holdings in Eversource Energy were worth $2,066,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Public Sector Pension Investment Board grew its stake in shares of Eversource Energy by 0.6% during the 2nd quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock worth $191,979,000 after acquiring an additional 20,207 shares during the period. Bank of New York Mellon Corp boosted its position in Eversource Energy by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock worth $177,823,000 after purchasing an additional 354,429 shares during the period. ClearBridge Investments Ltd purchased a new position in shares of Eversource Energy in the first quarter worth about $156,093,000. Zimmer Partners LP raised its position in shares of Eversource Energy by 730.4% in the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock valued at $151,642,000 after purchasing an additional 2,231,585 shares during the period. Finally, Hsbc Holdings PLC lifted its stake in shares of Eversource Energy by 26.9% during the 2nd quarter. Hsbc Holdings PLC now owns 1,765,481 shares of the utilities provider’s stock valued at $100,110,000 after buying an additional 374,458 shares in the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Eversource Energy Stock Up 0.6 %

Shares of NYSE:ES opened at $61.85 on Friday. The firm has a market capitalization of $22.66 billion, a PE ratio of -39.39, a price-to-earnings-growth ratio of 2.43 and a beta of 0.61. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. 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 $65.24 and a 200 day moving average of $62.84.

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

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a dividend yield of 4.62%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio (DPR) is presently -182.17%.

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.