Eversource Energy (NYSE:ES) Receives $68.38 Average PT from Brokerages

Eversource Energy (NYSE:ES) has been given an average recommendation of “Hold” by the thirteen brokerages that are presently covering the firm, Marketbeat.com reports. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and six have assigned a buy rating to the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $68.38.

A number of brokerages have recently commented on ES. Morgan Stanley boosted their price target on Eversource Energy from $69.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, August 23rd. Barclays upped their price target on Eversource Energy from $69.00 to $72.00 and gave the stock an “equal weight” rating in a research report on Tuesday, October 15th. StockNews.com downgraded shares of Eversource Energy from a “hold” rating to a “sell” rating in a report on Friday, December 13th. Jefferies Financial Group started coverage on shares of Eversource Energy in a report on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 target price for the company. Finally, Bank of America lifted their price target on shares of Eversource Energy from $67.00 to $68.00 and gave the company a “neutral” rating in a research note on Thursday, August 29th.

Eversource Energy Price Performance

Shares of ES opened at $58.53 on Friday. The stock has a 50 day simple moving average of $62.95 and a 200 day simple moving average of $63.16. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. The firm has a market capitalization of $21.45 billion, a PE ratio of -37.28, a P/E/G ratio of 2.38 and a beta of 0.60.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share for the quarter, beating the consensus estimate of $1.08 by $0.05. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The company had revenue of $3.06 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same quarter in the prior year, the company earned $0.97 earnings per share. The business’s quarterly revenue was up 9.7% compared to the same quarter last year. Sell-side analysts predict that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th will be paid a $0.715 dividend. The ex-dividend date is Wednesday, December 18th. This represents a $2.86 annualized dividend and a yield of 4.89%. Eversource Energy’s dividend payout ratio is -182.17%.

Institutional Investors Weigh In On Eversource Energy

Several hedge funds have recently added to or reduced their stakes in the business. B. Riley Wealth Advisors Inc. lifted its position in Eversource Energy by 8.3% during the third quarter. B. Riley Wealth Advisors Inc. now owns 5,954 shares of the utilities provider’s stock worth $404,000 after acquiring an additional 458 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in Eversource Energy by 518.1% during the 3rd quarter. Retirement Systems of Alabama now owns 480,278 shares of the utilities provider’s stock worth $32,683,000 after purchasing an additional 402,574 shares during the last quarter. Tidal Investments LLC lifted its holdings in Eversource Energy by 5.2% during the 3rd quarter. Tidal Investments LLC now owns 13,849 shares of the utilities provider’s stock worth $942,000 after purchasing an additional 689 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in Eversource Energy in the 3rd quarter valued at $270,000. Finally, World Investment Advisors LLC acquired a new position in Eversource Energy in the 3rd quarter valued at $277,000. 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.