Eversource Energy (NYSE:ES) Price Target Cut to $77.00 by Analysts at BMO Capital Markets

Eversource Energy (NYSE:ES) had its price objective trimmed by BMO Capital Markets from $79.00 to $77.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a market perform rating on the utilities provider’s stock.

Several other research firms have also recently issued reports on ES. Janney Montgomery Scott reaffirmed a “neutral” rating on shares of Eversource Energy in a research report on Monday, October 13th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday, October 31st. Wells Fargo & Company started coverage on Eversource Energy in a report on Tuesday, October 28th. They issued an “overweight” rating and a $79.00 price objective on the stock. TD Cowen assumed coverage on Eversource Energy in a research note on Thursday, October 16th. They set a “hold” rating and a $76.00 target price for the company. Finally, Jefferies Financial Group increased their price target on shares of Eversource Energy from $54.00 to $60.00 and gave the company an “underperform” rating in a research note on Wednesday, October 22nd. Four research analysts have rated the stock with a Buy rating, six have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $72.70.

Eversource Energy Trading Up 2.1%

Shares of ES stock traded up $1.53 on Thursday, hitting $73.07. 2,701,725 shares of the stock traded hands, compared to its average volume of 2,479,794. Eversource Energy has a twelve month low of $52.28 and a twelve month high of $75.25. The stock has a market capitalization of $27.12 billion, a PE ratio of 15.35, a PEG ratio of 2.57 and a beta of 0.69. The firm’s 50-day moving average price is $69.63 and its two-hundred day moving average price is $65.87. 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 earnings results on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.07. Eversource Energy had a return on equity of 11.19% and a net margin of 10.22%.The company had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. During the same quarter last year, the firm earned $1.13 earnings per share. The firm’s quarterly revenue was up 5.2% compared to the same quarter last year. As a group, analysts anticipate that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Monday, September 22nd were given a $0.7525 dividend. The ex-dividend date was Monday, September 22nd. This represents a $3.01 dividend on an annualized basis and a dividend yield of 4.1%. Eversource Energy’s dividend payout ratio (DPR) is currently 82.47%.

Insider Activity

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of the firm’s stock in a transaction that occurred on Friday, August 22nd. The shares were acquired at an average cost of $66.07 per share, for a total transaction of $249,744.60. Following the transaction, the insider directly owned 12,033 shares of the company’s stock, valued at approximately $795,020.31. This represents a 45.80% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.41% of the stock is owned by company insiders.

Institutional Trading of Eversource Energy

Several large investors have recently modified their holdings of the business. Ballentine Partners LLC increased its stake in Eversource Energy by 4.9% in the first quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider’s stock valued at $369,000 after purchasing an additional 277 shares during the last quarter. Hilltop National Bank purchased a new stake in Eversource Energy in the 2nd quarter valued at about $32,000. Truist Financial Corp increased its stake in shares of Eversource Energy by 60.7% during the 2nd quarter. Truist Financial Corp now owns 34,696 shares of the utilities provider’s stock valued at $2,207,000 after acquiring an additional 13,112 shares during the last quarter. Public Employees Retirement System of Ohio increased its stake in shares of Eversource Energy by 1.0% during the 2nd quarter. Public Employees Retirement System of Ohio now owns 114,068 shares of the utilities provider’s stock valued at $7,257,000 after acquiring an additional 1,077 shares during the last quarter. Finally, Arvest Investments Inc. boosted its position in shares of Eversource Energy by 67.0% in the second quarter. Arvest Investments Inc. now owns 25,114 shares of the utilities provider’s stock worth $1,598,000 after acquiring an additional 10,079 shares during the last quarter. 79.99% of the stock is currently owned by institutional investors and hedge funds.

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.