Eversource Energy (NYSE:ES) PT Raised to $66.00

Eversource Energy (NYSE:ES) had its price objective raised by BMO Capital Markets from $65.00 to $66.00 in a research note published on Friday morning, Benzinga reports. The firm currently has a market perform rating on the utilities provider’s stock.

ES has been the subject of several other research reports. Barclays lowered their price objective 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. Scotiabank dropped their price objective on shares of Eversource Energy from $61.00 to $57.00 and set a sector perform rating on the stock in a research note on Monday, April 22nd. UBS Group raised Eversource Energy from a neutral rating to a buy rating and boosted their price target for the stock from $62.00 to $67.00 in a research report on Thursday, April 4th. The Goldman Sachs Group started coverage on Eversource Energy in a research note on Wednesday, April 10th. They issued a buy rating and a $73.00 price target on the stock. Finally, Mizuho raised Eversource Energy from a neutral rating to a buy rating and boosted their target price for the stock from $54.00 to $62.00 in a report on Thursday, February 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of Hold and a consensus target price of $66.23.

Eversource Energy Stock Performance

Shares of NYSE ES opened at $60.01 on Friday. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $77.97. The company’s 50-day moving average is $59.17 and its 200 day moving average is $58.14. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66.

Eversource Energy (NYSE:ES) last posted its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.45 by $0.04. The firm had revenue of $3.33 billion for the quarter, compared to the consensus estimate of $3.69 billion. Eversource Energy had a positive return on equity of 10.22% and a negative net margin of 3.60%. The business’s revenue for the quarter was down 12.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.41 EPS. On average, analysts anticipate that Eversource Energy will post 4.49 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be paid a dividend of $0.715 per share. This represents a $2.86 annualized dividend and a yield of 4.77%. The ex-dividend date of this dividend is Wednesday, May 15th. Eversource Energy’s dividend payout ratio (DPR) is presently -242.37%.

Insider Transactions at Eversource Energy

In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the firm’s stock in a transaction dated 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 owns 10,485 shares of the company’s stock, valued at $609,388.20. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction that occurred 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 sale, the insider now owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Linda Dorcena Forry sold 822 shares of the company’s stock in a transaction that occurred on Friday, March 1st. The stock was sold at an average price of $58.12, for a total value of $47,774.64. Following the transaction, the insider now directly owns 10,485 shares of the company’s stock, valued at $609,388.20. The disclosure for this sale can be found here. Insiders own 0.29% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

Hedge funds have recently modified their holdings of the company. Heritage Wealth Advisors purchased a new stake in Eversource Energy during the fourth quarter worth about $25,000. Exchange Traded Concepts LLC acquired a new stake in Eversource Energy in the 4th quarter valued at about $26,000. Rise Advisors LLC purchased a new position in shares of Eversource Energy in the 1st quarter valued at about $27,000. Bfsg LLC acquired a new position in shares of Eversource Energy during the fourth quarter worth about $31,000. Finally, Versant Capital Management Inc increased its stake in shares of Eversource Energy by 62.6% during the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after buying an additional 201 shares during the period. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Company Profile

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.