BMO Capital Markets Cuts Eversource Energy (NYSE:ES) Price Target to $73.00

Eversource Energy (NYSE:ES) had its price objective lowered by BMO Capital Markets from $75.00 to $73.00 in a report released on Monday morning,Benzinga reports. The brokerage currently has a market perform rating on the utilities provider’s stock.

Several other equities research analysts also recently weighed in on the company. Mizuho decreased their price objective on Eversource Energy from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Thursday, March 26th. Wells Fargo & Company lifted their price objective on shares of Eversource Energy from $74.00 to $75.00 and gave the company an “overweight” rating in a research report on Friday, May 8th. Scotiabank lowered their price objective on shares of Eversource Energy from $66.00 to $63.00 and set a “sector underperform” rating on the stock in a research report on Tuesday, April 21st. UBS Group lowered their price objective on shares of Eversource Energy from $80.00 to $74.00 and set a “neutral” rating on the stock in a research report on Friday, March 27th. Finally, Seaport Research Partners lowered shares of Eversource Energy from a “buy” rating to a “neutral” rating in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, Eversource Energy presently has an average rating of “Hold” and an average target price of $71.70.

Eversource Energy Price Performance

ES stock opened at $68.25 on Monday. The company has a market capitalization of $25.67 billion, a P/E ratio of 14.58, a PEG ratio of 4.55 and a beta of 0.74. Eversource Energy has a twelve month low of $60.62 and a twelve month high of $76.41. The business has a 50 day simple moving average of $69.82 and a 200-day simple moving average of $69.81. The company has a current ratio of 0.65, a quick ratio of 0.59 and a debt-to-equity ratio of 1.62.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Wednesday, May 6th. The utilities provider reported $1.73 earnings per share for the quarter, beating the consensus estimate of $1.59 by $0.14. The business had revenue of $4.50 billion during the quarter, compared to the consensus estimate of $4.21 billion. Eversource Energy had a return on equity of 11.59% and a net margin of 12.55%.The company’s revenue was up 9.4% compared to the same quarter last year. During the same period in the prior year, the company earned $1.50 earnings per share. Eversource Energy has set its FY 2026 guidance at 4.570-4.720 EPS. As a group, equities analysts anticipate that Eversource Energy will post 4.65 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, June 30th. Shareholders of record on Monday, May 18th will be issued a $0.7875 dividend. The ex-dividend date of this dividend is Monday, May 18th. This represents a $3.15 dividend on an annualized basis and a yield of 4.6%. Eversource Energy’s dividend payout ratio (DPR) is 67.31%.

Insider Buying and Selling at Eversource Energy

In other news, insider John Y. Kim sold 6,000 shares of the firm’s stock in a transaction on Thursday, February 19th. The stock was sold at an average price of $73.57, for a total value of $441,420.00. Following the completion of the transaction, the insider owned 12,339 shares in the company, valued at $907,780.23. This trade represents a 32.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Cotton M. Cleveland sold 2,581 shares of the firm’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $74.87, for a total value of $193,239.47. Following the completion of the transaction, the insider owned 79,364 shares of the company’s stock, valued at approximately $5,941,982.68. This represents a 3.15% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 16,381 shares of company stock valued at $1,211,079. 0.18% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Healthcare of Ontario Pension Plan Trust Fund increased its position in shares of Eversource Energy by 1.0% in the fourth quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 14,831 shares of the utilities provider’s stock valued at $999,000 after buying an additional 140 shares in the last quarter. Tokio Marine Asset Management Co. Ltd. increased its position in shares of Eversource Energy by 1.1% in the fourth quarter. Tokio Marine Asset Management Co. Ltd. now owns 13,287 shares of the utilities provider’s stock valued at $895,000 after buying an additional 142 shares in the last quarter. Mystic Asset Management Inc. increased its position in shares of Eversource Energy by 0.9% in the third quarter. Mystic Asset Management Inc. now owns 16,549 shares of the utilities provider’s stock valued at $1,177,000 after buying an additional 150 shares in the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in Eversource Energy by 1.4% during the 4th quarter. Northwestern Mutual Investment Management Company LLC now owns 11,988 shares of the utilities provider’s stock worth $807,000 after purchasing an additional 160 shares in the last quarter. Finally, Bay Colony Advisory Group Inc d b a Bay Colony Advisors increased its position in Eversource Energy by 3.3% during the 3rd quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,054 shares of the utilities provider’s stock worth $360,000 after purchasing an additional 162 shares in the last quarter. Hedge funds and other 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.