Analysts Set Eversource Energy (NYSE:ES) PT at $70.07

Eversource Energy (NYSE:ES) has been given a consensus rating of “Hold” by the fourteen research firms that are currently covering the firm, MarketBeat.com reports. Eight analysts have rated the stock with a hold rating and six have given a buy rating to the company. The average 1 year price objective among analysts that have issued ratings on the stock in the last year is $70.07.

ES has been the topic of several analyst reports. Scotiabank raised their target price on Eversource Energy from $57.00 to $66.00 and gave the stock a “sector perform” rating in a report on Tuesday, August 20th. Morgan Stanley raised their price target on shares of Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, August 23rd. Wells Fargo & Company upped their price objective on shares of Eversource Energy from $72.00 to $79.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Barclays raised their target price on Eversource Energy from $69.00 to $72.00 and gave the company an “equal weight” rating in a research report on Tuesday, October 15th. Finally, Bank of America upped their price target on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th.

Eversource Energy Trading Up 1.0 %

Shares of NYSE:ES opened at $66.49 on Friday. The company has a market capitalization of $23.76 billion, a PE ratio of -246.26, a P/E/G ratio of 2.56 and a beta of 0.61. The company has a current ratio of 0.75, a quick ratio of 0.66 and a debt-to-equity ratio of 1.74. The business’s fifty day simple moving average is $66.56 and its 200-day simple moving average is $62.60. Eversource Energy has a 12-month low of $52.03 and a 12-month high of $69.01.

Eversource Energy (NYSE:ES) last issued its quarterly earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, hitting the consensus estimate of $0.95. The business had revenue of $2.53 billion during 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% on a year-over-year basis. During the same quarter last year, the company earned $1.00 earnings per share. As a group, equities research analysts predict that Eversource Energy will post 4.57 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, September 30th. Shareholders of record on Monday, September 23rd were paid a dividend of $0.715 per share. This represents a $2.86 dividend on an annualized basis and a yield of 4.30%. The ex-dividend date was Monday, September 23rd. Eversource Energy’s dividend payout ratio is currently -1,059.26%.

Insiders Place Their Bets

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the company’s stock in a transaction that occurred on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the transaction, the executive vice president now owns 9,032 shares in the company, valued at $591,596. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, EVP Penelope M. Conner sold 815 shares of the business’s stock in a transaction dated Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the sale, the executive vice president now directly owns 9,032 shares of the company’s stock, valued at $591,596. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Penelope M. Conner sold 500 shares of the firm’s stock in a transaction dated 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 in the company, valued at approximately $639,464.18. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.29% of the stock is currently owned by insiders.

Institutional Trading of Eversource Energy

A number of institutional investors have recently made changes to their positions in ES. Lynx Investment Advisory acquired a new position in shares of Eversource Energy in the 2nd quarter valued at $25,000. UMB Bank n.a. lifted its stake in Eversource Energy by 62.9% during the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after buying an additional 198 shares in the last quarter. Manchester Capital Management LLC boosted its holdings in shares of Eversource Energy by 83.6% in the first quarter. Manchester Capital Management LLC now owns 606 shares of the utilities provider’s stock worth $36,000 after buying an additional 276 shares during the period. Salomon & Ludwin LLC increased its position in shares of Eversource Energy by 4,187.5% in the first quarter. Salomon & Ludwin LLC now owns 686 shares of the utilities provider’s stock worth $41,000 after acquiring an additional 670 shares in the last quarter. Finally, Pathway Financial Advisers LLC acquired a new stake in shares of Eversource Energy during the first quarter valued at approximately $43,000. 79.99% of the stock is owned by institutional investors and hedge funds.

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.