Eversource Energy (NYSE:ES) Receives $71.27 Consensus PT from Analysts

Eversource Energy (NYSE:ES) has been assigned a consensus rating of “Hold” from the thirteen brokerages that are covering the company, MarketBeat Ratings reports. Three investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $71.2727.

Several equities research analysts have weighed in on the company. Jefferies Financial Group reiterated an “underperform” rating on shares of Eversource Energy in a report on Monday, November 24th. Wells Fargo & Company cut shares of Eversource Energy from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $79.00 to $63.00 in a report on Wednesday, November 19th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday, October 31st. Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their price target for the stock from $73.00 to $85.00 in a report on Tuesday, October 21st. Finally, Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Monday, November 24th.

Eversource Energy Stock Performance

Shares of NYSE:ES opened at $67.21 on Thursday. The stock has a market capitalization of $25.22 billion, a P/E ratio of 18.41, a PEG ratio of 2.39 and a beta of 0.76. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $75.25. The company has a quick ratio of 0.64, a current ratio of 0.71 and a debt-to-equity ratio of 1.68. The firm has a fifty day simple moving average of $69.64 and a two-hundred day simple moving average of $67.45.

Eversource Energy (NYSE:ES) last released its earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.07. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The firm had revenue of $3.22 billion for the quarter, compared to the consensus estimate of $3.28 billion. During the same quarter in the previous year, the company posted $1.13 EPS. The company’s revenue for the quarter was up 5.2% compared to the same quarter last year. On average, analysts expect that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 17th will be given a $0.7525 dividend. The ex-dividend date is Wednesday, December 17th. This represents a $3.01 annualized dividend and a dividend yield of 4.5%. Eversource Energy’s dividend payout ratio (DPR) is 82.47%.

Insider Activity at Eversource Energy

In related news, EVP James W. Hunt III sold 4,129 shares of the company’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $72.77, for a total transaction of $300,467.33. Following the completion of the sale, the executive vice president owned 32,415 shares of the company’s stock, valued at approximately $2,358,839.55. This represents a 11.30% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Root Financial Partners LLC acquired a new position in shares of Eversource Energy in the third quarter worth $26,000. Harel Insurance Investments & Financial Services Ltd. acquired a new stake in Eversource Energy in the third quarter valued at $27,000. Neo Ivy Capital Management purchased a new position in Eversource Energy in the second quarter valued at approximately $26,000. Trust Co. of Toledo NA OH acquired a new stake in Eversource Energy during the second quarter worth approximately $28,000. Finally, Johnson Financial Group Inc. grew its position in shares of Eversource Energy by 73.5% in the 3rd quarter. Johnson Financial Group Inc. now owns 465 shares of the utilities provider’s stock valued at $33,000 after buying an additional 197 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Company Profile

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.