Brokerages Set Eversource Energy (NYSE:ES) PT at $68.93

Shares of Eversource Energy (NYSE:ES) have earned a consensus recommendation of “Hold” from the fourteen brokerages that are presently covering the firm, Marketbeat.com reports. Eight investment analysts have rated the stock with a hold rating and six have issued a buy rating on the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $70.00.

ES has been the topic of a number of recent research reports. Bank of America upped their target price on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a research note on Thursday, August 29th. BMO Capital Markets upped their target price on Eversource Energy from $70.00 to $74.00 and gave the stock a “market perform” rating in a research note on Thursday. Mizuho upped their target price on Eversource Energy from $62.00 to $73.00 and gave the stock an “outperform” rating in a research note on Wednesday. Scotiabank upped their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a research note on Tuesday, August 20th. Finally, Wells Fargo & Company upped their target price on Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research note on Friday, August 2nd.

Eversource Energy Stock Down 1.2 %

Eversource Energy stock opened at $65.89 on Tuesday. The company has a debt-to-equity ratio of 1.74, a quick ratio of 0.66 and a current ratio of 0.75. The business’s 50-day simple moving average is $66.62 and its two-hundred day simple moving average is $61.78. The company has a market cap of $23.21 billion, a PE ratio of -55.84, a PEG ratio of 2.54 and a beta of 0.61. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $69.01.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting the consensus estimate of $0.95. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.90 billion. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The company’s quarterly revenue was down 3.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.00 EPS. Equities analysts anticipate that Eversource Energy will post 4.57 EPS for the current year.

Eversource Energy Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were given a dividend of $0.715 per share. The ex-dividend date was Monday, September 23rd. This represents a $2.86 dividend on an annualized basis and a yield of 4.34%. Eversource Energy’s dividend payout ratio is currently -242.37%.

Insider Buying and Selling at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $64.94, for a total transaction of $32,470.00. Following the completion of the transaction, the executive vice president now owns 9,847 shares of the company’s stock, valued at $639,464.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total transaction of $53,382.50. Following the completion of the transaction, the executive vice president now owns 9,032 shares of the company’s stock, valued at $591,596. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Penelope M. Conner sold 500 shares of the stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the transaction, the executive vice president now directly owns 9,847 shares of the company’s stock, valued at approximately $639,464.18. The disclosure for this sale can be found here. Insiders own 0.41% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Trust & Banking Corp increased its holdings in shares of Eversource Energy by 65.0% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 3,868,360 shares of the utilities provider’s stock valued at $227,929,000 after purchasing an additional 1,524,341 shares during the last quarter. Public Sector Pension Investment Board increased its holdings in shares of Eversource Energy by 0.6% in the second quarter. Public Sector Pension Investment Board now owns 3,385,281 shares of the utilities provider’s stock valued at $191,979,000 after purchasing an additional 20,207 shares during the last quarter. Bank of New York Mellon Corp increased its stake in Eversource Energy by 12.7% during the second quarter. Bank of New York Mellon Corp now owns 3,135,652 shares of the utilities provider’s stock worth $177,823,000 after acquiring an additional 354,429 shares during the last quarter. Magellan Asset Management Ltd increased its stake in Eversource Energy by 5.4% during the fourth quarter. Magellan Asset Management Ltd now owns 3,067,091 shares of the utilities provider’s stock worth $189,301,000 after acquiring an additional 156,534 shares during the last quarter. Finally, ClearBridge Investments Ltd acquired a new stake in Eversource Energy during the first quarter worth $156,093,000. Institutional investors and hedge funds own 79.99% of the company’s stock.

About Eversource Energy

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.