Analysts Set Eversource Energy (NYSE:ES) Price Target at $66.07

Shares of Eversource Energy (NYSE:ES) have earned a consensus rating of “Hold” from the fourteen ratings firms that are covering the company, MarketBeat reports. Eight analysts have rated the stock with a hold recommendation and six have issued a buy recommendation on the company. The average 12-month price objective among brokers that have issued a report on the stock in the last year is $65.86.

Several research analysts have issued reports on the stock. UBS Group upgraded shares of Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $62.00 to $67.00 in a research report on Thursday, April 4th. StockNews.com upgraded shares of Eversource Energy to a “sell” rating in a research report on Thursday, March 28th. The Goldman Sachs Group initiated coverage on shares of Eversource Energy in a research report on Wednesday, April 10th. They set a “buy” rating and a $73.00 price objective on the stock. Scotiabank lowered 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 report on Monday, April 22nd. Finally, Argus lowered their price objective on shares of Eversource Energy from $85.00 to $68.00 and set a “buy” rating on the stock in a research report on Monday, March 25th.

Eversource Energy Trading Down 1.6 %

Eversource Energy stock opened at $57.10 on Friday. The company has a debt-to-equity ratio of 1.71, a quick ratio of 0.68 and a current ratio of 0.77. The firm has a market cap of $20.11 billion, a price-to-earnings ratio of -48.39, a price-to-earnings-growth ratio of 2.33 and a beta of 0.60. Eversource Energy has a 1 year low of $52.03 and a 1 year high of $74.81. The firm’s 50 day moving average price is $59.48 and its two-hundred day moving average price is $58.78.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.45 by $0.04. The firm had revenue of $3.33 billion for the quarter, compared to analyst estimates of $3.69 billion. Eversource Energy had a negative net margin of 3.60% and a positive return on equity of 10.32%. The firm’s quarterly revenue was down 12.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.41 earnings per share. On average, research analysts predict that Eversource Energy will post 4.53 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Thursday, May 16th will be paid a $0.715 dividend. This represents a $2.86 annualized dividend and a dividend yield of 5.01%. The ex-dividend date of this dividend is Wednesday, May 15th. Eversource Energy’s payout ratio is presently -242.37%.

Insider Activity at Eversource Energy

In related news, VP Gregory B. Butler sold 10,000 shares of Eversource Energy stock in a transaction on Wednesday, May 29th. The shares were sold at an average price of $56.20, for a total value of $562,000.00. Following the completion of the sale, the vice president now owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Eversource Energy news, EVP Penelope M. Conner sold 2,700 shares of the business’s stock in a transaction on Friday, May 31st. The shares were sold at an average price of $58.75, for a total transaction of $158,625.00. Following the completion of the transaction, the executive vice president now owns 10,272 shares of the company’s stock, valued at approximately $603,480. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Gregory B. Butler sold 10,000 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was sold at an average price of $56.20, for a total transaction of $562,000.00. Following the transaction, the vice president now directly owns 63,808 shares of the company’s stock, valued at approximately $3,586,009.60. The disclosure for this sale can be found here. 0.29% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of ES. Heritage Wealth Advisors acquired a new position in Eversource Energy during the 4th quarter worth $25,000. Exchange Traded Concepts LLC acquired a new position in shares of Eversource Energy during the fourth quarter valued at about $26,000. Rise Advisors LLC acquired a new position in shares of Eversource Energy during the first quarter valued at about $27,000. Bfsg LLC acquired a new position in shares of Eversource Energy during the fourth quarter valued at about $31,000. Finally, Versant Capital Management Inc raised its position 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 valued at $31,000 after buying an additional 201 shares during the last quarter. Institutional investors and hedge funds 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.