Eversource Energy (NYSE:ES) Receives $65.50 Consensus PT from Brokerages

Shares of Eversource Energy (NYSE:ES) have been given a consensus recommendation of “Hold” by the thirteen research firms that are presently covering the firm, MarketBeat Ratings reports. Seven analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average 1-year price target among analysts that have covered the stock in the last year is $66.08.

ES has been the topic of a number of research analyst reports. Argus cut their price target on Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a report on Monday, March 25th. Mizuho upgraded Eversource Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $54.00 to $62.00 in a report on Thursday, February 15th. UBS Group upgraded Eversource Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $62.00 to $67.00 in a report on Thursday, April 4th. Guggenheim upgraded Eversource Energy from a “neutral” rating to a “buy” rating and increased their price target for the stock from $60.00 to $72.00 in a report on Monday, January 22nd. Finally, Citigroup upped their target price on Eversource Energy from $58.00 to $62.00 and gave the stock a “neutral” rating in a research report on Thursday, February 15th.

Eversource Energy Stock Performance

Shares of ES stock opened at $58.24 on Tuesday. The business’s 50 day simple moving average is $58.24 and its 200 day simple moving average is $57.77. Eversource Energy has a one year low of $52.03 and a one year high of $79.92. The stock has a market capitalization of $20.43 billion, a PE ratio of -46.22, a PEG ratio of 3.12 and a beta of 0.58. The company has a debt-to-equity ratio of 1.66, a current ratio of 0.67 and a quick ratio of 0.59.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, February 13th. The utilities provider reported $0.95 EPS for the quarter, missing the consensus estimate of $0.97 by ($0.02). Eversource Energy had a negative net margin of 3.71% and a positive return on equity of 9.92%. The company had revenue of $2.69 billion during the quarter, compared to the consensus estimate of $3 billion. During the same quarter in the previous year, the company earned $0.92 earnings per share. The business’s revenue was down 11.1% on a year-over-year basis. As a group, research analysts forecast that Eversource Energy will post 4.52 earnings per share for the current year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Tuesday, March 5th were given a $0.715 dividend. This is a positive change from Eversource Energy’s previous quarterly dividend of $0.68. This represents a $2.86 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date was Monday, March 4th. Eversource Energy’s dividend payout ratio is presently -226.98%.

Insider Activity at Eversource Energy

In related 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 value of $47,774.64. Following the completion of the sale, the insider now directly owns 10,485 shares of the company’s stock, valued at approximately $609,388.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction on Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction on Friday, March 1st. The shares were 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 disclosure for this sale can be found here. In the last three months, insiders sold 6,250 shares of company stock valued at $352,014. 0.29% of the stock is owned by insiders.

Institutional Investors Weigh In On Eversource Energy

Several large investors have recently made changes to their positions in ES. Moneta Group Investment Advisors LLC increased its position in shares of Eversource Energy by 101,201.5% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 12,617,104 shares of the utilities provider’s stock valued at $1,057,818,000 after purchasing an additional 12,604,649 shares during the last quarter. Norges Bank bought a new position in shares of Eversource Energy during the 4th quarter worth $274,262,000. Goldman Sachs Group Inc. grew its stake in shares of Eversource Energy by 45.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,178,606 shares of the utilities provider’s stock worth $257,904,000 after acquiring an additional 1,299,183 shares during the period. Balyasny Asset Management L.P. grew its stake in shares of Eversource Energy by 4,397.4% during the 1st quarter. Balyasny Asset Management L.P. now owns 1,072,762 shares of the utilities provider’s stock worth $83,954,000 after acquiring an additional 1,048,909 shares during the period. Finally, Morgan Stanley grew its stake in shares of Eversource Energy by 19.3% during the 3rd quarter. Morgan Stanley now owns 4,464,230 shares of the utilities provider’s stock worth $259,595,000 after acquiring an additional 723,318 shares during the period. 79.99% of the stock is owned by hedge funds and other institutional investors.

About Eversource Energy

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.