Eversource Energy (ES) Given New $54.00 Price Target at Citigroup Inc.
Eversource Energy (NYSE:ES) had its target price cut by Citigroup Inc. from $61.00 to $54.00 in a research report sent to investors on Tuesday morning. They currently have a neutral rating on the stock.
A number of other equities analysts have also issued reports on ES. Zacks Investment Research lowered shares of Eversource Energy from a hold rating to a sell rating in a research report on Wednesday, June 15th. Deutsche Bank AG restated a hold rating and set a $58.00 target price (down from $59.00) on shares of Eversource Energy in a research report on Monday, June 27th. Barclays PLC raised their target price on shares of Eversource Energy from $62.00 to $65.00 and gave the stock an equal weight rating in a research report on Thursday, July 7th. Janney Montgomery Scott upgraded shares of Eversource Energy from a neutral rating to a buy rating and set a $67.00 target price on the stock in a research report on Monday, August 1st. Finally, Williams Capital restated a buy rating on shares of Eversource Energy in a research report on Friday, September 2nd. One analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the company. Eversource Energy currently has an average rating of Hold and a consensus price target of $59.71.
Eversource Energy (NYSE:ES) opened at 52.61 on Tuesday. The company has a 50 day moving average of $54.72 and a 200 day moving average of $56.53. The firm has a market capitalization of $16.69 billion, a PE ratio of 19.34 and a beta of 0.29. Eversource Energy has a 1-year low of $48.18 and a 1-year high of $60.44.
Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.64 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.65 by $0.01. The company earned $1.77 billion during the quarter, compared to analysts’ expectations of $1.81 billion. Eversource Energy had a net margin of 11.62% and a return on equity of 8.42%. The business’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.65 earnings per share. Analysts forecast that Eversource Energy will post $2.97 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 30th. Investors of record on Monday, September 19th were given a dividend of $0.445 per share. This represents a $1.78 dividend on an annualized basis and a yield of 3.38%. The ex-dividend date of this dividend was Thursday, September 15th. Eversource Energy’s dividend payout ratio is presently 65.44%.
In related news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $54.77, for a total transaction of $547,700.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.89% of the company’s stock.
A number of hedge funds have recently bought and sold shares of the company. Mycio Wealth Partners LLC boosted its stake in Eversource Energy by 100.0% in the second quarter. Mycio Wealth Partners LLC now owns 1,770 shares of the company’s stock worth $106,000 after buying an additional 885 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in Eversource Energy by 167.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 1,901 shares of the company’s stock valued at $113,000 after buying an additional 1,189 shares during the period. WFG Advisors LP boosted its stake in Eversource Energy by 7.8% in the second quarter. WFG Advisors LP now owns 1,994 shares of the company’s stock valued at $119,000 after buying an additional 145 shares during the period. Bellwether Investment Group LLC acquired a new stake in Eversource Energy during the second quarter valued at approximately $132,000. Finally, SevenBridge Financial Group LLC acquired a new stake in Eversource Energy during the second quarter valued at approximately $138,000. Hedge funds and other institutional investors own 69.38% of the company’s stock.
About Eversource Energy
Eversource Energy, formerly Northeast Utilities, is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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