Brokerages Set Eversource Energy (NYSE:ES) Target Price at $60.60
Shares of Eversource Energy (NYSE:ES) have been assigned an average rating of “Hold” from the nine analysts that are covering the company. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and three have given a buy rating to the company. The average 1 year price target among brokerages that have issued ratings on the stock in the last year is $59.80.
A number of research firms recently issued reports on ES. Barclays PLC decreased their target price on shares of Eversource Energy from $65.00 to $61.00 and set an “equal weight” rating for the company in a research report on Tuesday. Citigroup Inc. decreased their target price on shares of Eversource Energy from $61.00 to $54.00 and set a “neutral” rating for the company in a research report on Tuesday. Zacks Investment Research downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Thursday, September 15th. Williams Capital restated a “buy” rating on shares of Eversource Energy in a research report 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 report on Monday, August 1st.
Shares of Eversource Energy (NYSE:ES) opened at 52.72 on Tuesday. The firm’s 50-day moving average is $54.55 and its 200-day moving average is $56.48. Eversource Energy has a 52 week low of $48.18 and a 52 week high of $60.44. The stock has a market capitalization of $16.72 billion, a price-to-earnings ratio of 19.38 and a beta of 0.29.
Eversource Energy (NYSE:ES) last posted its earnings results 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. The business had revenue of $1.77 billion for the quarter, compared to analyst estimates of $1.81 billion. Eversource Energy had a net margin of 11.62% and a return on equity of 8.42%. The company’s revenue for the quarter was down 2.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.65 earnings per share. Analysts forecast that Eversource Energy will post $2.97 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 30th. Stockholders of record on Monday, September 19th were paid a dividend of $0.445 per share. The ex-dividend date of this dividend was Thursday, September 15th. This represents a $1.78 dividend on an annualized basis and a dividend yield of 3.38%. Eversource Energy’s dividend payout ratio is currently 65.44%.
In other news, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.89% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in ES. Advisor Partners LLC boosted its stake in Eversource Energy by 2.5% in the first quarter. Advisor Partners LLC now owns 5,932 shares of the company’s stock worth $346,000 after buying an additional 145 shares in the last quarter. USS Investment Management Ltd boosted its stake in Eversource Energy by 88.3% in the first quarter. USS Investment Management Ltd now owns 113,105 shares of the company’s stock worth $6,601,000 after buying an additional 53,039 shares in the last quarter. NN Investment Partners Holdings N.V. bought a new stake in Eversource Energy during the first quarter worth approximately $59,370,000. Sentry Investment Management LLC boosted its stake in Eversource Energy by 1.5% in the first quarter. Sentry Investment Management LLC now owns 24,060 shares of the company’s stock worth $1,404,000 after buying an additional 359 shares in the last quarter. Finally, BlackRock Japan Co. Ltd boosted its stake in Eversource Energy by 0.8% in the first quarter. BlackRock Japan Co. Ltd now owns 397,750 shares of the company’s stock worth $23,205,000 after buying an additional 3,175 shares in the last quarter. 69.38% of the stock is owned by institutional investors and hedge funds.
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.
Receive News & Stock Ratings for Eversource Energy Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Eversource Energy and related stocks with our FREE daily email newsletter.