Zurcher Kantonalbank Zurich Cantonalbank Boosts Holdings in Eversource Energy (NYSE:ES)

Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in shares of Eversource Energy (NYSE:ES) by 39.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 395,064 shares of the utilities provider’s stock after purchasing an additional 111,206 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Eversource Energy were worth $26,884,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of ES. Lynx Investment Advisory purchased a new stake in Eversource Energy during the 2nd quarter worth approximately $25,000. Brooklyn Investment Group acquired a new stake in shares of Eversource Energy in the third quarter worth approximately $31,000. Ashton Thomas Securities LLC purchased a new stake in shares of Eversource Energy during the third quarter worth approximately $32,000. UMB Bank n.a. raised its stake in Eversource Energy by 62.9% in the 3rd quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 198 shares during the last quarter. Finally, Larson Financial Group LLC lifted its holdings in Eversource Energy by 162.0% in the 3rd quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock valued at $38,000 after purchasing an additional 350 shares in the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on the stock. BMO Capital Markets dropped their target price on shares of Eversource Energy from $74.00 to $72.00 and set a “market perform” rating for the company in a report on Tuesday, October 15th. Scotiabank upped their price objective on shares of Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a research note on Tuesday, August 20th. Bank of America raised their target price on shares of Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. Barclays upped their price target on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Mizuho lifted their price objective on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 2nd. Seven investment analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $70.58.

Eversource Energy Stock Performance

NYSE ES opened at $64.48 on Friday. The stock has a fifty day simple moving average of $64.33 and a 200-day simple moving average of $63.00. 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 stock has a market cap of $23.63 billion, a PE ratio of -41.07, a P/E/G ratio of 2.58 and a beta of 0.61. Eversource Energy has a twelve month low of $52.09 and a twelve 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 for the quarter, topping the consensus estimate of $1.08 by $0.05. The company 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 was up 9.7% compared to the same quarter last year. During the same quarter last year, the firm posted $0.97 earnings per share. Equities analysts anticipate that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were given a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s payout ratio is -182.17%.

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.