Eversource Energy (NYSE:ES) Receives Consensus Recommendation of “Hold” from Brokerages

Eversource Energy (NYSE:ES) has earned an average rating of “Hold” from the fifteen ratings firms that are currently covering the firm, MarketBeat.com reports. Two analysts have rated the stock with a sell rating, six have given a hold rating and seven have assigned a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $81.83.

ES has been the subject of a number of analyst reports. KeyCorp upped their price objective on shares of Eversource Energy from $88.00 to $95.00 and gave the company an “overweight” rating in a research report on Monday, October 21st. JPMorgan Chase & Co. began coverage on shares of Eversource Energy in a research report on Wednesday, December 11th. They set a “neutral” rating and a $86.00 price target on the stock. Morgan Stanley increased their price target on shares of Eversource Energy from $80.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 17th. ValuEngine cut shares of Eversource Energy from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Finally, UBS Group cut shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $91.00 price target on the stock. in a research report on Tuesday, October 29th.

Several hedge funds have recently modified their holdings of ES. Vanguard Group Inc. lifted its holdings in Eversource Energy by 3.4% in the second quarter. Vanguard Group Inc. now owns 40,172,997 shares of the utilities provider’s stock worth $3,043,505,000 after acquiring an additional 1,338,950 shares during the last quarter. State Street Corp lifted its holdings in Eversource Energy by 1.5% in the third quarter. State Street Corp now owns 17,314,154 shares of the utilities provider’s stock worth $1,479,841,000 after acquiring an additional 248,075 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in Eversource Energy by 108.1% in the second quarter. Price T Rowe Associates Inc. MD now owns 14,429,007 shares of the utilities provider’s stock worth $1,093,142,000 after acquiring an additional 7,496,179 shares during the last quarter. Zimmer Partners LP lifted its holdings in Eversource Energy by 586.4% in the second quarter. Zimmer Partners LP now owns 4,290,210 shares of the utilities provider’s stock worth $325,026,000 after acquiring an additional 3,665,210 shares during the last quarter. Finally, Pictet Asset Management Ltd. lifted its holdings in Eversource Energy by 12.5% in the third quarter. Pictet Asset Management Ltd. now owns 3,214,903 shares of the utilities provider’s stock worth $274,778,000 after acquiring an additional 356,359 shares during the last quarter. 81.58% of the stock is currently owned by institutional investors and hedge funds.

NYSE:ES traded up $1.01 on Friday, reaching $84.41. The stock had a trading volume of 1,095,830 shares, compared to its average volume of 1,716,856. The company has a current ratio of 0.59, a quick ratio of 0.54 and a debt-to-equity ratio of 1.11. The company has a 50-day moving average of $82.82 and a 200 day moving average of $81.18. The stock has a market cap of $27.23 billion, a P/E ratio of 25.73, a price-to-earnings-growth ratio of 4.04 and a beta of 0.17. Eversource Energy has a 12-month low of $64.64 and a 12-month high of $86.55.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, November 5th. The utilities provider reported $0.98 earnings per share for the quarter, beating analysts’ consensus estimates of $0.96 by $0.02. The company had revenue of $2.18 billion during the quarter, compared to analysts’ expectations of $2.26 billion. Eversource Energy had a net margin of 10.46% and a return on equity of 9.28%. The firm’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 EPS. On average, equities analysts predict that Eversource Energy will post 3.45 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Tuesday, December 31st. Stockholders of record on Friday, December 20th were given a dividend of $0.535 per share. The ex-dividend date of this dividend was Thursday, December 19th. This represents a $2.14 annualized dividend and a dividend yield of 2.54%. Eversource Energy’s payout ratio is 65.24%.

About Eversource Energy

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

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Analyst Recommendations for Eversource Energy (NYSE:ES)

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