Credit Suisse Group Raises Eversource Energy (ES) Price Target to $63.00
Eversource Energy (NYSE:ES) had its price objective upped by Credit Suisse Group from $60.00 to $63.00 in a research report report published on Monday morning. They currently have a neutral rating on the utilities provider’s stock.
Other equities analysts also recently issued research reports about the stock. Morgan Stanley increased their price target on shares of Eversource Energy from $64.00 to $66.00 and gave the company an equal weight rating in a report on Thursday, August 10th. BidaskClub downgraded shares of Eversource Energy from a hold rating to a sell rating in a report on Wednesday, July 12th. Deutsche Bank AG downgraded shares of Eversource Energy from a buy rating to a hold rating and increased their price target for the company from $61.00 to $61.50 in a report on Monday, July 31st. Finally, Janney Montgomery Scott set a $71.00 price target on shares of Eversource Energy and gave the company a buy rating in a report on Monday, July 31st. Seven research analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of Hold and a consensus price target of $63.19.
Shares of Eversource Energy (ES) opened at 60.79 on Monday. Eversource Energy has a 1-year low of $50.56 and a 1-year high of $64.19. The stock has a market cap of $19.26 billion, a PE ratio of 19.67 and a beta of 0.28. The stock’s 50 day moving average is $62.25 and its 200-day moving average is $61.05.
Eversource Energy (NYSE:ES) last announced its quarterly earnings results on Thursday, July 27th. The utilities provider reported $0.72 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.68 by $0.04. The business had revenue of $1.76 billion during the quarter, compared to the consensus estimate of $1.91 billion. Eversource Energy had a net margin of 12.81% and a return on equity of 9.15%. The business’s revenue was down .2% compared to the same quarter last year. During the same quarter last year, the firm posted $0.64 EPS. On average, analysts predict that Eversource Energy will post $3.15 EPS for the current fiscal year.
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The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Tuesday, September 19th were issued a dividend of $0.475 per share. The ex-dividend date was Monday, September 18th. This represents a $1.90 annualized dividend and a yield of 3.13%. Eversource Energy’s dividend payout ratio (DPR) is currently 61.49%.
A number of large investors have recently bought and sold shares of the business. Pensionfund Sabic purchased a new position in Eversource Energy during the 3rd quarter valued at about $1,771,000. Pensionfund DSM Netherlands purchased a new position in Eversource Energy during the 3rd quarter valued at about $3,203,000. Intl Fcstone Inc. purchased a new position in Eversource Energy during the 2nd quarter valued at about $821,000. Griffin Asset Management Inc. purchased a new position in Eversource Energy during the 2nd quarter valued at about $3,983,000. Finally, Achmea Investment Management B.V. purchased a new position in Eversource Energy during the 2nd quarter valued at about $598,000. Hedge funds and other institutional investors own 71.88% 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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