Eversource Energy (NYSE:ES) Receives $66.23 Average PT from Analysts

Eversource Energy (NYSE:ES) has been given a consensus rating of “Hold” by the thirteen brokerages that are presently covering the company, Marketbeat reports. Seven analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 12 month target price among analysts that have issued a report on the stock in the last year is $66.23.

ES has been the topic of a number of recent research reports. Guggenheim upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $60.00 to $72.00 in a research note on Monday, January 22nd. Citigroup raised their price target on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Argus dropped their price objective on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating for the company in a report on Monday, March 25th. BMO Capital Markets upped their price objective on Eversource Energy from $65.00 to $66.00 and gave the stock a “market perform” rating in a report on Friday, May 3rd. Finally, StockNews.com upgraded Eversource Energy to a “sell” rating in a report on Thursday, March 28th.

Insider Activity

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the sale, the insider now directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the sale, the insider now directly owns 10,485 shares in the company, valued at approximately $609,388.20. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The disclosure for this sale can be found here. Company insiders own 0.29% of the company’s stock.

Hedge Funds Weigh In On Eversource Energy

A number of hedge funds have recently modified their holdings of ES. Czech National Bank increased its position in Eversource Energy by 0.3% in the fourth quarter. Czech National Bank now owns 61,182 shares of the utilities provider’s stock worth $3,776,000 after purchasing an additional 168 shares during the last quarter. Salem Investment Counselors Inc. grew its holdings in shares of Eversource Energy by 49.7% in the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock worth $33,000 after purchasing an additional 181 shares during the last quarter. Avantax Advisory Services Inc. boosted its holdings in shares of Eversource Energy by 2.5% in the first quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock valued at $475,000 after purchasing an additional 192 shares during the period. Pinion Investment Advisors LLC lifted its stake in Eversource Energy by 4.1% in the third quarter. Pinion Investment Advisors LLC now owns 4,955 shares of the utilities provider’s stock worth $288,000 after acquiring an additional 197 shares during the period. Finally, Presima Securities ULC increased its position in Eversource Energy by 1.5% during the 4th quarter. Presima Securities ULC now owns 13,730 shares of the utilities provider’s stock valued at $847,000 after purchasing an additional 200 shares during the period. 79.99% of the stock is currently owned by institutional investors.

Eversource Energy Stock Down 0.2 %

ES opened at $61.04 on Friday. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59. The firm has a market capitalization of $21.41 billion, a P/E ratio of -51.73, a PEG ratio of 3.21 and a beta of 0.57. The company’s 50-day moving average is $59.25 and its 200 day moving average is $58.24. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $77.53.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, beating the consensus estimate of $1.45 by $0.04. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.22%. The company had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.69 billion. During the same quarter in the prior year, the business earned $1.41 earnings per share. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. Research analysts expect that Eversource Energy will post 4.49 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be paid a $0.715 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.86 annualized dividend and a dividend yield of 4.69%. Eversource Energy’s payout ratio is -242.37%.

Eversource Energy Company 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.