Eversource Energy (ES) Given Consensus Recommendation of “Hold” by Brokerages
Shares of Eversource Energy (NYSE:ES) have been given an average recommendation of “Hold” by the fifteen ratings firms that are currently covering the company, Marketbeat.com reports. Two analysts have rated the stock with a sell recommendation, five have given a hold recommendation and eight have assigned a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $68.50.
Several research firms recently issued reports on ES. Morgan Stanley increased their target price on Eversource Energy from $69.00 to $71.00 and gave the stock an “equal weight” rating in a research report on Tuesday, February 12th. Goldman Sachs Group raised Eversource Energy from a “neutral” rating to a “buy” rating in a report on Wednesday, January 30th. Guggenheim lowered Eversource Energy from a “buy” rating to a “neutral” rating in a report on Friday, February 22nd. Scotiabank reissued a “sell” rating and set a $63.00 price target on shares of Eversource Energy in a report on Thursday, February 21st. Finally, Zacks Investment Research lowered Eversource Energy from a “buy” rating to a “hold” rating in a report on Wednesday, January 16th.
ES stock traded up $0.27 during trading on Wednesday, reaching $70.95. The stock had a trading volume of 405,721 shares, compared to its average volume of 1,876,375. Eversource Energy has a 1-year low of $52.76 and a 1-year high of $72.26. The company has a debt-to-equity ratio of 1.07, a current ratio of 0.56 and a quick ratio of 0.50. The firm has a market capitalization of $22.43 billion, a P/E ratio of 21.63, a P/E/G ratio of 3.67 and a beta of 0.31.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 29th. Stockholders of record on Tuesday, March 5th were paid a dividend of $0.535 per share. The ex-dividend date of this dividend was Monday, March 4th. This is a boost from Eversource Energy’s previous quarterly dividend of $0.51. This represents a $2.14 annualized dividend and a dividend yield of 3.02%. Eversource Energy’s payout ratio is currently 65.24%.
In other news, insider Sanford Cloud, Jr. sold 1,042 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $68.87, for a total value of $71,762.54. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Christine M. Carmody sold 15,000 shares of the company’s stock in a transaction dated Friday, February 22nd. The shares were sold at an average price of $70.06, for a total transaction of $1,050,900.00. The disclosure for this sale can be found here. Insiders have sold a total of 111,201 shares of company stock valued at $7,727,360 over the last three months. Corporate insiders own 0.37% of the company’s stock.
Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its position in shares of Eversource Energy by 100,075.7% during the 3rd quarter. Bank of New York Mellon Corp now owns 15,640,429 shares of the utilities provider’s stock worth $960,950,000 after buying an additional 15,624,816 shares during the period. Norges Bank bought a new stake in shares of Eversource Energy in the 4th quarter valued at approximately $166,695,000. Commonwealth Bank of Australia lifted its stake in shares of Eversource Energy by 6,196.5% in the 4th quarter. Commonwealth Bank of Australia now owns 2,325,159 shares of the utilities provider’s stock valued at $151,213,000 after purchasing an additional 2,288,231 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its stake in shares of Eversource Energy by 6,323.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 2,217,214 shares of the utilities provider’s stock valued at $34,000 after purchasing an additional 2,182,698 shares during the last quarter. Finally, American Century Companies Inc. lifted its stake in shares of Eversource Energy by 35.7% in the 4th quarter. American Century Companies Inc. now owns 4,563,601 shares of the utilities provider’s stock valued at $296,817,000 after purchasing an additional 1,200,309 shares during the last quarter. Institutional investors and hedge funds own 73.99% of the company’s stock.
About Eversource Energy
Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates in four segments: Electric Distribution, Electric Transmission, Natural Gas Distribution, and Water Distribution. It is involved in the transmission and distribution of electricity; and distribution of natural gas.
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