Morgan Stanley Boosts Eversource Energy (ES) Price Target to $67.00

Eversource Energy (NYSE:ES) had its price target hoisted by Morgan Stanley from $63.00 to $67.00 in a report published on Tuesday morning. They currently have a hold rating on the utilities provider’s stock.

Other equities analysts have also recently issued reports about the company. Zacks Investment Research raised Eversource Energy from a hold rating to a buy rating and set a $66.00 price target for the company in a report on Tuesday, July 17th. Janney Montgomery Scott raised Eversource Energy from a neutral rating to a buy rating in a report on Thursday, June 28th. ValuEngine raised Eversource Energy from a sell rating to a hold rating in a research report on Thursday, June 28th. Bank of America raised Eversource Energy from an underperform rating to a neutral rating and set a $59.00 price objective for the company in a research report on Friday, August 3rd. Finally, Credit Suisse Group raised Eversource Energy from an underperform rating to a neutral rating and lifted their price objective for the company from $58.00 to $62.00 in a research report on Monday, July 9th. Six research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. Eversource Energy has a consensus rating of Buy and a consensus target price of $62.70.

NYSE ES opened at $63.61 on Tuesday. Eversource Energy has a fifty-two week low of $52.76 and a fifty-two week high of $66.15. The firm has a market capitalization of $20.03 billion, a PE ratio of 20.45, a P/E/G ratio of 3.28 and a beta of 0.24. The company has a quick ratio of 0.60, a current ratio of 0.65 and a debt-to-equity ratio of 1.07.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Tuesday, July 31st. The utilities provider reported $0.76 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.75 by $0.01. Eversource Energy had a return on equity of 9.07% and a net margin of 12.59%. The company had revenue of $1.85 billion during the quarter, compared to analysts’ expectations of $1.81 billion. research analysts predict that Eversource Energy will post 3.25 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 28th. Stockholders of record on Friday, September 21st will be given a $0.505 dividend. This represents a $2.02 dividend on an annualized basis and a dividend yield of 3.18%. The ex-dividend date of this dividend is Thursday, September 20th. Eversource Energy’s dividend payout ratio is currently 64.95%.

In other news, EVP Leon J. Olivier sold 50,000 shares of Eversource Energy stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $62.03, for a total value of $3,101,500.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.53% of the stock is owned by insiders.

A number of hedge funds have recently bought and sold shares of ES. Qube Research & Technologies Ltd boosted its position in shares of Eversource Energy by 46.8% in the second quarter. Qube Research & Technologies Ltd now owns 2,534 shares of the utilities provider’s stock worth $149,000 after buying an additional 808 shares during the period. Girard Partners LTD. boosted its position in shares of Eversource Energy by 21.4% in the second quarter. Girard Partners LTD. now owns 5,017 shares of the utilities provider’s stock worth $294,000 after buying an additional 884 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of Eversource Energy by 3.8% in the second quarter. CIBC Private Wealth Group LLC now owns 24,914 shares of the utilities provider’s stock worth $1,460,000 after buying an additional 901 shares during the period. Victory Capital Management Inc. boosted its position in shares of Eversource Energy by 0.3% in the second quarter. Victory Capital Management Inc. now owns 276,170 shares of the utilities provider’s stock worth $16,186,000 after buying an additional 912 shares during the period. Finally, MANA Advisors LLC boosted its position in shares of Eversource Energy by 16.8% in the first quarter. MANA Advisors LLC now owns 6,400 shares of the utilities provider’s stock worth $377,000 after buying an additional 920 shares during the period. 74.78% of the stock is owned by hedge funds and other institutional investors.

About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in three segments: Electric Distribution, Electric Transmission, and Natural Gas Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.

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