Eversource Energy (NYSE:ES) had its price target upped by BMO Capital Markets from $57.00 to $61.00 in a research note published on Friday, May 5th. They currently have a market perform rating on the utilities provider’s stock.
A number of other equities research analysts have also weighed in on ES. Citigroup Inc upped their target price on shares of Eversource Energy from $54.00 to $58.00 and gave the stock a neutral rating in a report on Tuesday, April 25th. Credit Suisse Group AG started coverage on shares of Eversource Energy in a report on Wednesday, January 25th. They issued a neutral rating and a $57.00 target price on the stock. Zacks Investment Research downgraded shares of Eversource Energy from a hold rating to a sell rating in a research report on Tuesday, March 14th. Finally, Deutsche Bank AG upped their price objective on shares of Eversource Energy from $59.00 to $61.00 and gave the stock a buy rating in a research report on Tuesday, April 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and four have assigned a buy rating to the stock. Eversource Energy currently has an average rating of Hold and a consensus price target of $60.75.
Eversource Energy (NYSE:ES) traded down 0.22% during mid-day trading on Friday, hitting $60.11. The stock had a trading volume of 1,683,435 shares. The firm has a market cap of $19.05 billion, a P/E ratio of 19.97 and a beta of 0.32. The stock has a 50 day moving average of $59.59 and a 200-day moving average of $56.49. Eversource Energy has a 1-year low of $50.56 and a 1-year high of $60.78.
Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Thursday, May 4th. The utilities provider reported $0.82 earnings per share for the quarter, missing the consensus estimate of $0.83 by $0.01. Eversource Energy had a net margin of 11.85% and a return on equity of 8.61%. The company had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.12 billion. During the same quarter in the prior year, the company posted $0.77 EPS. Eversource Energy’s revenue for the quarter was up 2.4% on a year-over-year basis. Analysts predict that Eversource Energy will post $3.15 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 30th. Stockholders of record on Wednesday, May 31st will be issued a dividend of $0.475 per share. The ex-dividend date of this dividend is Friday, May 26th. This represents a $1.90 annualized dividend and a dividend yield of 3.16%. Eversource Energy’s payout ratio is 63.35%.
In related news, EVP Joseph R. Nolan, Jr. sold 6,282 shares of the business’s stock in a transaction that occurred on Friday, February 24th. The shares were sold at an average price of $58.28, for a total transaction of $366,114.96. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Werner J. Schweiger sold 39,360 shares of the business’s stock in a transaction that occurred on Wednesday, March 22nd. The shares were sold at an average price of $60.00, for a total transaction of $2,361,600.00. The disclosure for this sale can be found here. Insiders have sold 193,073 shares of company stock valued at $11,333,968 over the last three months. 0.89% of the stock is owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in the stock. Brookfield Asset Management Inc. acquired a new stake in shares of Eversource Energy during the first quarter valued at about $106,000. Advisory Services Network LLC purchased a new position in Eversource Energy during the first quarter worth $112,000. Northwestern Mutual Wealth Management Co. raised its position in Eversource Energy by 24.9% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 2,005 shares of the utilities provider’s stock worth $119,000 after buying an additional 400 shares during the last quarter. Patriot Financial Group Insurance Agency LLC purchased a new position in Eversource Energy during the fourth quarter worth $115,000. Finally, Van ECK Associates Corp raised its position in Eversource Energy by 24.6% in the fourth quarter. Van ECK Associates Corp now owns 2,318 shares of the utilities provider’s stock worth $128,000 after buying an additional 458 shares during the last quarter. Institutional investors own 70.28% of the company’s stock.
About Eversource Energy
Eversource Energy is a utility holding company engaged in the energy delivery business. The Company operates through three segments: electric distribution, electric transmission and natural gas distribution. The Company’s electric distribution segment consists of the distribution businesses, which are engaged in the distribution of electricity to retail customers in Connecticut, eastern Massachusetts, New Hampshire and western Massachusetts, and the regulated electric generation businesses.
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