Eversource Energy (NYSE:ES) Receives $67.40 Average Price Target from Brokerages

Shares of Eversource Energy (NYSE:ES) have been assigned an average rating of “Hold” from the eleven brokerages that are presently covering the firm, MarketBeat Ratings reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $67.40.

ES has been the topic of several analyst reports. Guggenheim reiterated a “buy” rating on shares of Eversource Energy in a research report on Monday, February 10th. StockNews.com cut Eversource Energy from a “hold” rating to a “sell” rating in a research report on Friday, March 21st. Wells Fargo & Company reduced their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Barclays lowered their price target on shares of Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating on the stock in a report on Wednesday, January 22nd. Finally, Scotiabank reduced their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating for the company in a research note on Thursday, February 13th.

Insiders Place Their Bets

In other Eversource Energy news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the transaction, the vice president now directly owns 24,374 shares of the company’s stock, valued at $1,535,318.26. This trade represents a 3.87 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Frederica M. Williams sold 3,092 shares of the business’s stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the completion of the sale, the insider now owns 22,671 shares in the company, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Mizuho Bank Ltd. purchased a new position in shares of Eversource Energy during the 4th quarter worth about $26,000. Kestra Investment Management LLC bought a new position in shares of Eversource Energy during the fourth quarter valued at approximately $29,000. Assetmark Inc. grew its stake in shares of Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after buying an additional 254 shares during the last quarter. Brooklyn Investment Group purchased a new stake in shares of Eversource Energy in the third quarter worth approximately $31,000. Finally, Pinney & Scofield Inc. purchased a new position in Eversource Energy during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Trading Up 0.6 %

Eversource Energy stock opened at $60.31 on Tuesday. The business has a 50-day simple moving average of $60.21 and a two-hundred day simple moving average of $61.67. Eversource Energy has a 52-week low of $54.75 and a 52-week high of $69.01. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The company has a market cap of $22.14 billion, a P/E ratio of 26.11, a P/E/G ratio of 2.35 and a beta of 0.60.

Eversource Energy (NYSE:ES) last announced its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS for the quarter, beating analysts’ consensus estimates of $1.00 by $0.01. Eversource Energy had a net margin of 6.82% and a return on equity of 10.99%. Analysts predict that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 31st. Shareholders of record on Tuesday, March 4th will be issued a $0.7525 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 dividend on an annualized basis and a yield of 4.99%. The ex-dividend date of this dividend is Tuesday, March 4th. Eversource Energy’s payout ratio is currently 130.30%.

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.