Eversource Energy (NYSE:ES) Price Target Raised to $81.00

Eversource Energy (NYSE:ES) had its price objective upped by Mizuho from $72.00 to $81.00 in a report issued on Monday morning,Benzinga reports. Mizuho currently has an outperform rating on the utilities provider’s stock.

A number of other equities analysts also recently commented on ES. TD Cowen began coverage on Eversource Energy in a research note on Thursday, October 16th. They issued a “hold” rating and a $76.00 price target for the company. Bank of America upgraded Eversource Energy from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $73.00 to $85.00 in a research note on Tuesday, October 21st. Janney Montgomery Scott reiterated a “neutral” rating on shares of Eversource Energy in a research note on Monday, October 13th. Weiss Ratings reiterated a “hold (c)” rating on shares of Eversource Energy in a research note on Wednesday, October 8th. Finally, Jefferies Financial Group lifted their target price on Eversource Energy from $54.00 to $60.00 and gave the company an “underperform” rating in a research note on Wednesday, October 22nd. Four equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $70.56.

Eversource Energy Stock Down 1.5%

NYSE:ES opened at $73.74 on Monday. The company has a market capitalization of $27.37 billion, a price-to-earnings ratio of 31.65, a price-to-earnings-growth ratio of 2.69 and a beta of 0.67. Eversource Energy has a one year low of $52.28 and a one year high of $75.25. The stock has a 50-day simple moving average of $68.60 and a 200 day simple moving average of $65.28. The company has a debt-to-equity ratio of 1.67, a quick ratio of 0.63 and a current ratio of 0.71.

Eversource Energy (NYSE:ES) last posted its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.01. The business had revenue of $2.84 billion during the quarter, compared to the consensus estimate of $3.01 billion. Eversource Energy had a return on equity of 11.00% and a net margin of 6.60%.The company’s revenue for the quarter was up 12.0% compared to the same quarter last year. During the same period last year, the firm earned $0.95 earnings per share. Sell-side analysts predict that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were paid a $0.7525 dividend. This represents a $3.01 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s payout ratio is presently 129.18%.

Insider Buying and Selling

In related news, insider Loretta D. Keane bought 3,780 shares of the firm’s stock in a transaction on Friday, August 22nd. The stock was bought at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the completion of the purchase, the insider directly owned 12,033 shares in the company, valued at approximately $795,020.31. The trade was a 45.80% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.41% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Eversource Energy

Several hedge funds and other institutional investors have recently made changes to their positions in ES. Neo Ivy Capital Management acquired a new position in shares of Eversource Energy during the second quarter worth approximately $26,000. Root Financial Partners LLC acquired a new position in shares of Eversource Energy during the third quarter worth approximately $26,000. Harel Insurance Investments & Financial Services Ltd. acquired a new position in shares of Eversource Energy during the third quarter worth approximately $27,000. Trust Co. of Toledo NA OH acquired a new position in shares of Eversource Energy during the second quarter worth approximately $28,000. Finally, Elevation Point Wealth Partners LLC acquired a new position in shares of Eversource Energy during the second quarter worth approximately $31,000. 79.99% of the stock is currently 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.