Eversource Energy (NYSE:ES) Receives $70.56 Consensus Target Price from Brokerages

Eversource Energy (NYSE:ES) has been given a consensus recommendation of “Hold” by the thirteen brokerages that are covering the firm, Marketbeat.com reports. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company. The average 12 month price objective among brokerages that have updated their coverage on the stock in the last year is $72.70.

Several analysts recently weighed in on the stock. Janney Montgomery Scott reiterated a “neutral” rating on shares of Eversource Energy in a report on Monday, October 13th. Bank of America raised shares of Eversource Energy from a “neutral” rating to a “buy” rating and raised their target price for the stock from $73.00 to $85.00 in a research report on Tuesday, October 21st. UBS Group cut shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 price target on the stock. in a research report on Thursday. Mizuho increased their price target on shares of Eversource Energy from $72.00 to $81.00 and gave the stock an “outperform” rating in a research note on Monday, October 27th. Finally, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Eversource Energy in a research report on Friday, October 31st.

Eversource Energy Stock Up 2.1%

Shares of NYSE:ES opened at $73.07 on Wednesday. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $75.25. The company has a market cap of $27.12 billion, a PE ratio of 20.02, a P/E/G ratio of 2.62 and a beta of 0.69. The company has a debt-to-equity ratio of 1.68, a current ratio of 0.71 and a quick ratio of 0.64. The stock’s 50-day moving average is $69.81 and its 200 day moving average is $66.10.

Eversource Energy (NYSE:ES) last released its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.07. The business had revenue of $3.22 billion during the quarter, compared to analysts’ expectations of $3.28 billion. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The business’s revenue was up 5.2% on a year-over-year basis. During the same quarter last year, the business posted $1.13 EPS. Sell-side 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. Investors of record on Monday, September 22nd were given a dividend of $0.7525 per share. The ex-dividend date was Monday, September 22nd. This represents a $3.01 annualized dividend and a dividend yield of 4.1%. Eversource Energy’s payout ratio is currently 82.47%.

Insiders Place Their Bets

In other news, insider Loretta D. Keane purchased 3,780 shares of Eversource Energy stock in a transaction that occurred on Friday, August 22nd. The shares were bought at an average cost of $66.07 per share, with a total value 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. This trade represents a 45.80% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by insiders.

Institutional Trading of Eversource Energy

A number of hedge funds have recently modified their holdings of ES. Ballentine Partners LLC raised its position in Eversource Energy by 4.9% in the first quarter. Ballentine Partners LLC now owns 5,934 shares of the utilities provider’s stock worth $369,000 after acquiring an additional 277 shares during the period. Hilltop National Bank bought a new position in Eversource Energy in the 2nd quarter worth $32,000. Truist Financial Corp lifted its position in Eversource Energy by 60.7% during the second quarter. Truist Financial Corp now owns 34,696 shares of the utilities provider’s stock valued at $2,207,000 after purchasing an additional 13,112 shares in the last quarter. Public Employees Retirement System of Ohio lifted its position in Eversource Energy by 1.0% during the second quarter. Public Employees Retirement System of Ohio now owns 114,068 shares of the utilities provider’s stock valued at $7,257,000 after purchasing an additional 1,077 shares in the last quarter. Finally, Arvest Investments Inc. grew its holdings in Eversource Energy by 67.0% during the second quarter. Arvest Investments Inc. now owns 25,114 shares of the utilities provider’s stock valued at $1,598,000 after purchasing an additional 10,079 shares during the period. Institutional investors 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.