Eversource Energy $ES Shares Sold by Bank of Montreal Can

Bank of Montreal Can cut its holdings in Eversource Energy (NYSE:ES) by 13.8% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 510,810 shares of the utilities provider’s stock after selling 81,966 shares during the period. Bank of Montreal Can’s holdings in Eversource Energy were worth $32,498,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. M&T Bank Corp lifted its holdings in shares of Eversource Energy by 10.4% in the first quarter. M&T Bank Corp now owns 30,741 shares of the utilities provider’s stock valued at $1,910,000 after purchasing an additional 2,896 shares in the last quarter. Greenleaf Trust raised its position in shares of Eversource Energy by 35.3% during the 1st quarter. Greenleaf Trust now owns 11,045 shares of the utilities provider’s stock worth $686,000 after purchasing an additional 2,880 shares during the last quarter. LBP AM SA purchased a new stake in Eversource Energy in the 1st quarter valued at approximately $2,187,000. Alan B Lancz & Associates Inc. purchased a new stake in Eversource Energy in the 1st quarter valued at approximately $250,000. Finally, Genus Capital Management Inc. acquired a new stake in Eversource Energy during the 1st quarter valued at $1,683,000. 79.99% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ES has been the subject of a number of analyst reports. Bank of America raised Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $73.00 to $85.00 in a report on Tuesday, October 21st. Janney Montgomery Scott reissued a “neutral” rating on shares of Eversource Energy in a research note on Monday, October 13th. BMO Capital Markets decreased their price target on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating on the stock in a research note on Thursday. Jefferies Financial Group lifted their price target on shares of Eversource Energy from $54.00 to $60.00 and gave the stock an “underperform” rating in a report on Wednesday, October 22nd. Finally, Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a research note on Friday, October 31st. Four equities research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $72.70.

Eversource Energy Stock Down 1.9%

ES opened at $71.54 on Friday. Eversource Energy has a 12 month low of $52.28 and a 12 month high of $75.25. The business has a 50-day moving average of $69.63 and a two-hundred day moving average of $65.87. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. The stock has a market capitalization of $26.55 billion, a price-to-earnings ratio of 19.60, a price-to-earnings-growth ratio of 2.62 and a beta of 0.69.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.07. Eversource Energy had a net margin of 10.22% and a return on equity of 11.19%. The business had revenue of $3.22 billion for the quarter, compared to analysts’ expectations of $3.28 billion. During the same period last year, the company earned $1.13 earnings per share. The company’s quarterly revenue was up 5.2% on a year-over-year basis. On average, research analysts expect that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were paid a dividend of $0.7525 per share. The ex-dividend date of this dividend was Monday, September 22nd. This represents a $3.01 annualized dividend and a dividend yield of 4.2%. Eversource Energy’s payout ratio is currently 82.47%.

Insider Activity at Eversource Energy

In other news, insider Loretta D. Keane bought 3,780 shares of the business’s stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average cost of $66.07 per share, with a total value of $249,744.60. Following the transaction, the insider owned 12,033 shares of the company’s stock, valued at $795,020.31. This represents a 45.80% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. 0.41% of the stock is currently owned by insiders.

Eversource Energy 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.