National Bank of Canada FI Raises Stake in Eversource Energy (NYSE:ES)

Key Points

• National Bank of Canada FI increased its holdings in Eversource Energy by 4.6% in the first quarter, now owning approximately 0.08% of the company valued at $17.46 million.
• A variety of other hedge funds have also adjusted their positions, with 79.99% of Eversource Energy's stock owned by institutional investors, indicating high institutional interest.
• Analysts have shown a mixed response, with three analysts rating the stock as a sell, while five assigned a hold rating, and three gave it a buy rating, reflecting cautious sentiment towards the stock’s performance.

National Bank of Canada FI grew its position in shares of Eversource Energy (NYSE:ES - Free Report) by 4.6% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 281,151 shares of the utilities provider's stock after purchasing an additional 12,330 shares during the quarter. National Bank of Canada FI owned about 0.08% of Eversource Energy worth $17,462,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vest Financial LLC bought a new stake in shares of Eversource Energy in the 1st quarter valued at $60,273,000. Hsbc Holdings PLC increased its stake in shares of Eversource Energy by 31.1% in the 4th quarter. Hsbc Holdings PLC now owns 2,719,720 shares of the utilities provider's stock valued at $155,981,000 after acquiring an additional 645,257 shares in the last quarter. Northern Trust Corp increased its stake in shares of Eversource Energy by 18.0% in the 4th quarter. Northern Trust Corp now owns 3,699,583 shares of the utilities provider's stock valued at $212,467,000 after acquiring an additional 564,409 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Eversource Energy by 11.3% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 5,517,269 shares of the utilities provider's stock valued at $316,857,000 after acquiring an additional 561,055 shares in the last quarter. Finally, GAMMA Investing LLC increased its stake in shares of Eversource Energy by 7,616.9% in the 1st quarter. GAMMA Investing LLC now owns 424,273 shares of the utilities provider's stock valued at $26,352,000 after acquiring an additional 418,775 shares in the last quarter. Institutional investors own 79.99% of the company's stock.

Eversource Energy Stock Down 1.1%

ES stock traded down $0.75 during midday trading on Thursday, reaching $65.55. 2,176,864 shares of the company's stock traded hands, compared to its average volume of 2,699,145. The company has a market cap of $24.33 billion, a price-to-earnings ratio of 28.13, a P/E/G ratio of 2.47 and a beta of 0.61. The firm's fifty day moving average price is $65.00 and its 200-day moving average price is $62.09. The company has a quick ratio of 0.63, a current ratio of 0.71 and a debt-to-equity ratio of 1.67. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01.

Eversource Energy (NYSE:ES - Get Free Report) last posted its quarterly earnings data on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.95 by $0.01. The firm had revenue of $2.84 billion for the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The business's revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.95 EPS. As a group, sell-side analysts forecast that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ES. Bank of America lifted their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the company a "neutral" rating in a research note on Monday, July 21st. Mizuho lifted their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the company an "outperform" rating in a research note on Wednesday, June 25th. Wall Street Zen upgraded shares of Eversource Energy from a "sell" rating to a "hold" rating in a research note on Friday, May 16th. Finally, BMO Capital Markets boosted their price target on shares of Eversource Energy from $71.00 to $72.00 and gave the company a "market perform" rating in a research note on Monday, April 28th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have given 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 $65.56.

Insider Transactions at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 2,600 shares of Eversource Energy stock in a transaction on Tuesday, May 20th. The shares were sold at an average price of $64.00, for a total transaction of $166,400.00. Following the transaction, the executive vice president directly owned 10,988 shares of the company's stock, valued at $703,232. The trade was a 19.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.41% of the stock is owned by corporate insiders.

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.