Eversource Energy (ES) Given New $61.00 Price Target at Barclays PLC
Eversource Energy (NYSE:ES) had its price objective trimmed by Barclays PLC from $65.00 to $61.00 in a research report report published on Tuesday. The brokerage currently has an equal weight rating on the stock.
A number of other research analysts also recently issued reports on ES. Zacks Investment Research downgraded shares of Eversource Energy from a hold rating to a sell rating in a research report on Friday, July 8th. Deutsche Bank AG reiterated a hold rating and issued a $58.00 target price (down from $59.00) on shares of Eversource Energy in a research note on Monday, June 27th. Citigroup Inc. lifted their target price on shares of Eversource Energy from $53.00 to $61.00 and gave the stock a neutral rating in a research note on Wednesday, July 20th. Williams Capital reiterated a buy rating on shares of Eversource Energy in a research note on Friday, September 2nd. Finally, Janney Montgomery Scott upgraded shares of Eversource Energy from a neutral rating to a buy rating and set a $67.00 target price for the company in a research note on Monday, August 1st. One research analyst has rated the stock with a sell rating, five have issued a hold rating and three have issued a buy rating to the company. The stock presently has a consensus rating of Hold and a consensus target price of $59.71.
Shares of Eversource Energy (NYSE:ES) traded down 0.51% during mid-day trading on Tuesday, reaching $52.34. 740,047 shares of the company’s stock were exchanged. Eversource Energy has a one year low of $48.18 and a one year high of $60.44. The company has a market capitalization of $16.60 billion, a PE ratio of 19.24 and a beta of 0.29. The company’s 50-day moving average price is $54.72 and its 200-day moving average price is $56.53.
Eversource Energy (NYSE:ES) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.64 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.65 by $0.01. Eversource Energy had a return on equity of 8.42% and a net margin of 11.62%. The firm earned $1.77 billion during the quarter, compared to analysts’ expectations of $1.81 billion. During the same period in the previous year, the firm earned $0.65 EPS. The firm’s quarterly revenue was down 2.7% on a year-over-year basis. On average, equities analysts expect that Eversource Energy will post $2.97 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were issued a dividend of $0.445 per share. This represents a $1.78 annualized dividend and a dividend yield of 3.38%. The ex-dividend date was Thursday, September 15th. Eversource Energy’s dividend payout ratio (DPR) is 65.44%.
In other news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction that occurred on Thursday, September 8th. The shares were sold at an average price of $54.77, for a total transaction of $547,700.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.89% of the company’s stock.
A number of large investors have recently modified their holdings of the company. M&T Bank Corp raised its stake in shares of Eversource Energy by 33.7% in the first quarter. M&T Bank Corp now owns 36,438 shares of the company’s stock valued at $2,126,000 after buying an additional 9,184 shares during the last quarter. Advisor Partners LLC raised its stake in shares of Eversource Energy by 2.5% in the first quarter. Advisor Partners LLC now owns 5,932 shares of the company’s stock valued at $346,000 after buying an additional 145 shares during the last quarter. USS Investment Management Ltd raised its stake in shares of Eversource Energy by 88.3% in the first quarter. USS Investment Management Ltd now owns 113,105 shares of the company’s stock valued at $6,601,000 after buying an additional 53,039 shares during the last quarter. NN Investment Partners Holdings N.V. bought a new stake in shares of Eversource Energy during the first quarter valued at approximately $59,370,000. Finally, Sentry Investment Management LLC raised its stake in shares of Eversource Energy by 1.5% in the first quarter. Sentry Investment Management LLC now owns 24,060 shares of the company’s stock valued at $1,404,000 after buying an additional 359 shares during the last quarter. 69.38% of the stock is owned by institutional investors.
Eversource Energy Company Profile
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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