Quest Partners LLC Has $3.70 Million Stake in Eversource Energy (NYSE:ES)

Quest Partners LLC lifted its position in shares of Eversource Energy (NYSE:ES) by 483.5% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 54,308 shares of the utilities provider’s stock after buying an additional 45,000 shares during the quarter. Eversource Energy comprises about 0.3% of Quest Partners LLC’s holdings, making the stock its 20th largest position. Quest Partners LLC’s holdings in Eversource Energy were worth $3,696,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Swiss National Bank increased its holdings in Eversource Energy by 1.0% in the third quarter. Swiss National Bank now owns 1,045,533 shares of the utilities provider’s stock worth $71,149,000 after purchasing an additional 10,200 shares in the last quarter. Claro Advisors LLC grew its position in shares of Eversource Energy by 7.1% during the 3rd quarter. Claro Advisors LLC now owns 10,471 shares of the utilities provider’s stock worth $713,000 after buying an additional 693 shares during the period. Natixis Advisors LLC increased its stake in shares of Eversource Energy by 4.4% in the 3rd quarter. Natixis Advisors LLC now owns 133,174 shares of the utilities provider’s stock valued at $9,062,000 after acquiring an additional 5,553 shares in the last quarter. Northcape Wealth Management LLC lifted its position in shares of Eversource Energy by 1.3% during the 3rd quarter. Northcape Wealth Management LLC now owns 30,353 shares of the utilities provider’s stock valued at $2,066,000 after acquiring an additional 402 shares during the period. Finally, Empowered Funds LLC boosted its stake in Eversource Energy by 76.4% during the third quarter. Empowered Funds LLC now owns 9,389 shares of the utilities provider’s stock worth $639,000 after acquiring an additional 4,065 shares in the last quarter. Institutional investors own 79.99% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. BMO Capital Markets decreased their price target 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. Mizuho upped their price target on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 2nd. Bank of America raised their price objective on Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th. Scotiabank upped their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research report on Tuesday, August 20th. Finally, Morgan Stanley lifted their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. 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 stock has a consensus rating of “Hold” and an average target price of $70.46.

Eversource Energy Stock Performance

NYSE ES opened at $61.85 on Monday. The company has a fifty day moving average price of $65.24 and a 200-day moving average price of $62.87. The firm has a market cap of $22.66 billion, a price-to-earnings ratio of -39.39, a PEG ratio of 2.47 and a beta of 0.61. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. Eversource Energy has a 1 year low of $52.09 and a 1 year high of $69.01.

Eversource Energy (NYSE:ES) last issued 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. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The business had revenue of $3.06 billion during the quarter, compared to the consensus estimate of $3.06 billion. During the same period in the prior year, the firm posted $0.97 EPS. The firm’s quarterly revenue was up 9.7% compared to the same quarter last year. As a group, equities research analysts predict 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. Investors of record on Monday, September 23rd were issued a dividend of $0.715 per share. The ex-dividend date of this dividend 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 (DPR) is currently -182.17%.

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.