Eversource Energy (NYSE:ES) Given Average Recommendation of “Hold” by Analysts

Eversource Energy (NYSE:ES) has been assigned an average rating of “Hold” from the twelve ratings firms that are presently covering the stock, MarketBeat.com reports. Three analysts have rated the stock with a sell recommendation, six have given a hold recommendation and three have issued a buy recommendation on the company. The average 12 month target price among brokers that have covered the stock in the last year is $71.50.

A number of analysts recently commented on the company. Scotiabank dropped their price target on Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating for the company in a research note on Thursday, November 20th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Eversource Energy in a report on Friday, October 31st. Wells Fargo & Company cut shares of Eversource Energy from an “overweight” rating to an “equal weight” rating and cut their price target for the company from $79.00 to $63.00 in a report on Wednesday, November 19th. Jefferies Financial Group reiterated an “underperform” rating on shares of Eversource Energy in a research note on Monday, November 24th. Finally, Bank of America raised Eversource Energy from a “neutral” rating to a “buy” rating and upped their price target for the company from $73.00 to $85.00 in a report on Tuesday, October 21st.

Eversource Energy Stock Performance

NYSE:ES opened at $69.54 on Monday. The business has a 50 day moving average of $67.79 and a 200 day moving average of $68.10. The company has a market capitalization of $26.09 billion, a price-to-earnings ratio of 19.05, a PEG ratio of 2.36 and a beta of 0.76. Eversource Energy has a 1-year low of $52.28 and a 1-year high of $75.25. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. Eversource Energy had a net margin of 10.22% and a return on equity of 11.06%. The firm had revenue of $3.22 billion during the quarter, compared to analyst estimates of $3.28 billion. During the same period in the previous year, the business posted $1.13 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. On average, sell-side analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th were given a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.3%. The ex-dividend date was Wednesday, December 17th. Eversource Energy’s payout ratio is presently 82.47%.

Insider Activity

In related news, EVP James W. Hunt III sold 4,129 shares of Eversource Energy stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $72.77, for a total transaction of $300,467.33. Following the sale, the executive vice president owned 32,415 shares of the company’s stock, valued at approximately $2,358,839.55. This trade represents a 11.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

Several institutional investors and hedge funds have recently modified their holdings of ES. Lodestone Wealth Management LLC purchased a new position in Eversource Energy during the fourth quarter valued at $25,000. Neo Ivy Capital Management bought a new stake in shares of Eversource Energy in the second quarter worth about $26,000. Root Financial Partners LLC bought a new position in Eversource Energy during the third quarter valued at $26,000. Harel Insurance Investments & Financial Services Ltd. purchased a new position in Eversource Energy in the third quarter worth about $27,000. Finally, Trust Co. of Toledo NA OH bought a new stake in Eversource Energy during the second quarter worth approximately $28,000. Institutional investors own 79.99% of the company’s stock.

About Eversource Energy

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.