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

Bank of Montreal Can boosted its stake in shares of Eversource Energy (NYSE:ES - Free Report) by 4.5% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 653,295 shares of the utilities provider's stock after purchasing an additional 28,133 shares during the period. Bank of Montreal Can owned approximately 0.18% of Eversource Energy worth $37,519,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the stock. FMR LLC increased its holdings in Eversource Energy by 4.8% in the 4th quarter. FMR LLC now owns 7,352,593 shares of the utilities provider's stock worth $422,259,000 after buying an additional 333,529 shares during the period. Wedbush Securities Inc. boosted its position in Eversource Energy by 20.6% during the fourth quarter. Wedbush Securities Inc. now owns 6,524 shares of the utilities provider's stock worth $375,000 after purchasing an additional 1,115 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in Eversource Energy by 52.3% in the fourth quarter. Envestnet Asset Management Inc. now owns 377,186 shares of the utilities provider's stock valued at $21,662,000 after purchasing an additional 129,553 shares during the period. Aviva PLC raised its position in Eversource Energy by 16.3% during the fourth quarter. Aviva PLC now owns 704,623 shares of the utilities provider's stock worth $40,466,000 after acquiring an additional 98,722 shares during the period. Finally, Mizuho Bank Ltd. purchased a new position in Eversource Energy in the 4th quarter valued at about $26,000. Institutional investors and hedge funds own 79.99% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on ES shares. StockNews.com raised shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Monday. Scotiabank lowered their target price on Eversource Energy from $56.00 to $55.00 and set a "sector underperform" rating on the stock in a report on Thursday, February 13th. Guggenheim reaffirmed a "buy" rating on shares of Eversource Energy in a report on Monday, February 10th. JPMorgan Chase & Co. reiterated an "underweight" rating and set a $58.00 price objective (down previously from $69.00) on shares of Eversource Energy in a research report on Thursday, April 10th. Finally, Wells Fargo & Company cut their target price on Eversource Energy from $79.00 to $75.00 and set an "overweight" rating for the company in a research note on Thursday, February 13th. Three equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and three have issued a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average price target of $65.78.

Insider Buying and Selling

In related news, VP Jay S. Buth sold 980 shares of the firm's stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the sale, the vice president now owns 24,374 shares of the company's stock, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Frederica M. Williams sold 3,092 shares of Eversource Energy stock in a transaction that occurred on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the transaction, the insider now owns 22,671 shares of the company's stock, valued at $1,411,496.46. This represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is owned by insiders.

Eversource Energy Trading Up 1.8 %

NYSE ES traded up $1.05 on Wednesday, reaching $59.03. The stock had a trading volume of 521,885 shares, compared to its average volume of 2,882,283. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The stock has a fifty day moving average price of $60.39 and a two-hundred day moving average price of $60.72. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $69.01. The firm has a market capitalization of $21.67 billion, a price-to-earnings ratio of 25.55, a P/E/G ratio of 2.35 and a beta of 0.58.

Eversource Energy (NYSE:ES - Get Free Report) last posted its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. As a group, sell-side analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 4th were paid a dividend of $0.7525 per share. This is an increase from Eversource Energy's previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a yield of 5.10%. The ex-dividend date of this dividend was Tuesday, March 4th. Eversource Energy's dividend payout ratio is presently 130.30%.

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.