Eversource Energy (NYSE:ES) Now Covered by Analysts at Barclays

Barclays assumed coverage on shares of Eversource Energy (NYSE:ES) in a report released on Friday morning, MarketBeat Ratings reports. The firm issued an equal weight rating and a $76.00 price objective on the utilities provider’s stock.

Several other equities research analysts have also commented on the stock. HSBC initiated coverage on shares of Eversource Energy in a report on Thursday, October 22nd. They issued a “hold” rating and a $70.00 price target for the company. BMO Capital Markets dropped their target price on shares of Eversource Energy from $73.00 to $72.00 and set a “market perform” rating on the stock in a research report on Wednesday, July 22nd. JPMorgan Chase & Co. dropped their target price on shares of Eversource Energy from $73.00 to $68.00 and set an “underweight” rating on the stock in a research report on Monday, October 19th. Weiss Ratings raised shares of Eversource Energy from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, August 31st. Finally, Citigroup started coverage on shares of Eversource Energy in a research report on Monday, July 27th. They set a “hold” rating and a $81.00 price target for the company. Four investment analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $73.17.

Eversource Energy Stock Performance

Shares of NYSE:ES traded down $2.06 during trading on Friday, hitting $69.86. 3,424,384 shares of the stock traded hands, compared to its average volume of 2,920,706. The company has a quick ratio of 0.74, a current ratio of 0.80 and a debt-to-equity ratio of 1.63. The company has a fifty day moving average price of $67.35 and a two-hundred day moving average price of $70.03. Eversource Energy has a 52-week low of $62.72 and a 52-week high of $76.57. The company has a market cap of $26.31 billion, a price-to-earnings ratio of 18.43, a P/E/G ratio of 3.03 and a beta of 0.66.

Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Wednesday, November 4th. The utilities provider reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.90 by $0.02. The firm had revenue of $2.98 billion for the quarter, compared to the consensus estimate of $3.20 billion. Eversource Energy had a net margin of 10.35% and a return on equity of 11.33%. The firm’s quarterly revenue was down 7.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.19 earnings per share. As a group, equities analysts predict that Eversource Energy will post 4.63 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, September 30th. Stockholders of record on Monday, September 21st were paid a $0.7875 dividend. This represents a $3.15 annualized dividend and a dividend yield of 4.5%. The ex-dividend date of this dividend was Monday, September 21st. Eversource Energy’s dividend payout ratio (DPR) is currently 81.61%.

Hedge Funds Weigh In On Eversource Energy

A number of institutional investors and hedge funds have recently bought and sold shares of ES. Man Group plc purchased a new position in shares of Eversource Energy during the 2nd quarter worth $57,166,000. Integrated Wealth Concepts LLC grew its holdings in shares of Eversource Energy by 55.4% in the second quarter. Integrated Wealth Concepts LLC now owns 55,071 shares of the utilities provider’s stock valued at $3,980,000 after purchasing an additional 19,628 shares during the period. West Family Investments Inc. purchased a new stake in shares of Eversource Energy in the second quarter valued at about $702,000. Quantitative Investment Management LLC purchased a new stake in shares of Eversource Energy in the second quarter valued at about $1,116,000. Finally, Signal Advisors Wealth LLC acquired a new stake in Eversource Energy during the third quarter worth about $1,219,000. 79.99% of the stock is currently owned by institutional investors and hedge funds.

Eversource Energy Company Profile

Eversource Energy is a public utility holding company that delivers electricity and natural gas to customers in New England. Its businesses include electric transmission and distribution, natural gas distribution, and related energy services.

The company serves customers in Connecticut, Massachusetts, and New Hampshire through local utility subsidiaries. Its operations include maintaining and upgrading the networks used to deliver energy to homes and businesses.

Eversource traces its history to Northeast Utilities, which adopted the Eversource Energy name in 2015 after combining with NSTAR.