Eversource Energy (NYSE:ES) Given Average Rating of “Hold” by Brokerages

Shares of Eversource Energy (NYSE:ES) have been assigned a consensus rating of “Hold” from the thirteen analysts that are covering the stock, Marketbeat Ratings reports. Seven equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $66.23.

ES has been the subject of a number of research reports. Guggenheim raised Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the company from $60.00 to $72.00 in a research report on Monday, January 22nd. StockNews.com raised shares of Eversource Energy to a “sell” rating in a report on Thursday, March 28th. Scotiabank reduced their target price on shares of Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating for the company in a research note on Monday, April 22nd. Barclays cut their target price on Eversource Energy from $66.00 to $61.00 and set an “equal weight” rating for the company in a research report on Monday, January 22nd. Finally, Argus cut their target price on Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, March 25th.

Eversource Energy Trading Down 0.2 %

NYSE:ES opened at $61.04 on Friday. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. The stock’s 50 day simple moving average is $59.25 and its 200-day simple moving average is $58.24. The firm has a market cap of $21.41 billion, a P/E ratio of -51.73, a PEG ratio of 3.21 and a beta of 0.57. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $77.53.

Eversource Energy (NYSE:ES) last announced its 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 firm had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same quarter in the previous year, the company posted $1.41 EPS. The firm’s revenue for the quarter was down 12.2% on a year-over-year basis. Equities analysts anticipate that Eversource Energy will post 4.49 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Thursday, May 16th will be paid a dividend of $0.715 per share. 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 dividend payout ratio (DPR) is -242.37%.

Insider Activity

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

Hedge Funds Weigh In On Eversource Energy

Institutional investors and hedge funds have recently bought and sold shares of the stock. State Board of Administration of Florida Retirement System lifted its stake in Eversource Energy by 7.7% during the first quarter. State Board of Administration of Florida Retirement System now owns 433,484 shares of the utilities provider’s stock worth $25,909,000 after purchasing an additional 30,996 shares during the period. Avantax Advisory Services Inc. raised its position in shares of Eversource Energy by 2.5% during the first quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock worth $475,000 after acquiring an additional 192 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its holdings in Eversource Energy by 6.6% during the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 699,073 shares of the utilities provider’s stock worth $41,784,000 after purchasing an additional 43,430 shares during the last quarter. Russell Investments Group Ltd. raised its position in shares of Eversource Energy by 54.9% during the 1st quarter. Russell Investments Group Ltd. now owns 883,016 shares of the utilities provider’s stock valued at $52,763,000 after acquiring an additional 312,826 shares during the last quarter. Finally, QRG Capital Management Inc. increased its stake in shares of Eversource Energy by 2.9% in the 1st quarter. QRG Capital Management Inc. now owns 12,139 shares of the utilities provider’s stock valued at $726,000 after acquiring an additional 343 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

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.