Quest Partners LLC Grows Stake in Eversource Energy (NYSE:ES)

Quest Partners LLC lifted its stake in shares of Eversource Energy (NYSE:ES) by 483.5% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 54,308 shares of the utilities provider’s stock after purchasing an additional 45,000 shares during the period. Eversource Energy accounts for 0.3% of Quest Partners LLC’s investment portfolio, making the stock its 20th biggest holding. Quest Partners LLC’s holdings in Eversource Energy were worth $3,696,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Zimmer Partners LP increased its position in Eversource Energy by 730.4% in the first quarter. Zimmer Partners LP now owns 2,537,095 shares of the utilities provider’s stock worth $151,642,000 after buying an additional 2,231,585 shares during the last quarter. BROOKFIELD Corp ON purchased a new stake in Eversource Energy in the 1st quarter worth about $65,389,000. Los Angeles Capital Management LLC raised its stake in Eversource Energy by 201.4% in the 2nd quarter. Los Angeles Capital Management LLC now owns 974,665 shares of the utilities provider’s stock valued at $55,273,000 after acquiring an additional 651,263 shares during the period. Millennium Management LLC lifted its holdings in Eversource Energy by 75.8% during the second quarter. Millennium Management LLC now owns 1,307,397 shares of the utilities provider’s stock valued at $74,142,000 after purchasing an additional 563,756 shares during the last quarter. Finally, Swedbank AB bought a new position in Eversource Energy during the first quarter worth about $31,928,000. Institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Up 0.6 %

Shares of NYSE ES opened at $61.85 on Monday. The company has a current ratio of 0.86, a quick ratio of 0.76 and a debt-to-equity ratio of 1.73. The business has a 50-day moving average of $65.24 and a 200-day moving average of $62.87. The firm has a market capitalization of $22.66 billion, a price-to-earnings ratio of -39.39, a PEG ratio of 2.47 and a beta of 0.61. Eversource Energy has a 12 month low of $52.09 and a 12 month high of $69.01.

Eversource Energy (NYSE:ES) last announced its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. The business had revenue of $3.06 billion during the quarter, compared to analyst estimates of $3.06 billion. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. Eversource Energy’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.97 earnings per share. Sell-side analysts expect that Eversource Energy will post 4.56 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were paid a $0.715 dividend. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a yield of 4.62%. Eversource Energy’s dividend payout ratio is presently -182.17%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. BMO Capital Markets lowered their price target on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a research report on Tuesday, October 15th. Barclays increased their target price on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research report on Tuesday, November 12th. Morgan Stanley boosted their price objective on 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, 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. Eight equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $70.46.

Eversource Energy Company 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.