Eversource Energy (NYSE:ES) Receives $70.55 Average Target Price from Analysts

Eversource Energy (NYSE:ES) has received a consensus rating of “Hold” from the thirteen ratings firms that are presently covering the company, MarketBeat.com reports. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $70.5455.

ES has been the subject of several recent analyst reports. Jefferies Financial Group reissued an “underperform” rating on shares of Eversource Energy in a report on Monday, November 24th. UBS Group cut shares of Eversource Energy from a “buy” rating to a “neutral” rating and set a $78.00 target price for the company. in a research note on Thursday, November 6th. Scotiabank cut their price target on shares of Eversource Energy from $64.00 to $63.00 and set a “sector underperform” rating on the stock in a research note on Thursday, November 20th. Janney Montgomery Scott upgraded Eversource Energy from a “neutral” rating to a “buy” rating and set a $79.00 price objective for the company in a research note on Monday, November 24th. Finally, BMO Capital Markets reduced their target price on shares of Eversource Energy from $79.00 to $77.00 and set a “market perform” rating for the company in a report on Thursday, November 6th.

Eversource Energy Price Performance

NYSE ES opened at $66.29 on Friday. The firm’s fifty day simple moving average is $71.28 and its two-hundred day simple moving average is $67.10. The firm has a market capitalization of $24.87 billion, a P/E ratio of 18.16, a P/E/G ratio of 2.91 and a beta of 0.76. The company has a current ratio of 0.71, a quick ratio of 0.64 and a debt-to-equity ratio of 1.68. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $75.25.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Tuesday, November 4th. The utilities provider reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $1.12 by $0.07. Eversource Energy had a return on equity of 11.06% and a net margin of 10.22%.The firm 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 EPS. The business’s quarterly revenue was up 5.2% on a year-over-year basis. Analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Monday, September 22nd were paid a $0.7525 dividend. This represents a $3.01 annualized dividend and a dividend yield of 4.5%. The ex-dividend date was Monday, September 22nd. Eversource Energy’s payout ratio is currently 82.47%.

Insider Buying and Selling at Eversource Energy

In other news, EVP James W. Hunt III sold 4,129 shares of the stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $72.77, for a total transaction of $300,467.33. Following the sale, the executive vice president directly owned 32,415 shares of the company’s stock, valued at $2,358,839.55. This represents a 11.30% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Eversource Energy

Institutional investors and hedge funds have recently made changes to their positions in the business. United Asset Strategies Inc. lifted its position in shares of Eversource Energy by 1.0% during the 3rd quarter. United Asset Strategies Inc. now owns 13,288 shares of the utilities provider’s stock valued at $945,000 after buying an additional 138 shares in the last quarter. Mystic Asset Management Inc. lifted its holdings in Eversource Energy by 0.9% during the third quarter. Mystic Asset Management Inc. now owns 16,549 shares of the utilities provider’s stock valued at $1,177,000 after purchasing an additional 150 shares in the last quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors grew its position in shares of Eversource Energy by 3.3% in the third quarter. Bay Colony Advisory Group Inc d b a Bay Colony Advisors now owns 5,054 shares of the utilities provider’s stock valued at $360,000 after purchasing an additional 162 shares during the period. Parallel Advisors LLC increased its stake in shares of Eversource Energy by 4.9% during the third quarter. Parallel Advisors LLC now owns 3,636 shares of the utilities provider’s stock worth $259,000 after purchasing an additional 169 shares in the last quarter. Finally, PDS Planning Inc raised its position in shares of Eversource Energy by 4.7% during the 2nd quarter. PDS Planning Inc now owns 3,840 shares of the utilities provider’s stock worth $244,000 after purchasing an additional 173 shares during the last quarter. 79.99% of the stock is currently owned by hedge funds and other institutional investors.

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.