Analysts Set Eversource Energy (NYSE:ES) Price Target at $68.93

Shares of Eversource Energy (NYSE:ES) have been given an average recommendation of “Hold” by the fourteen research firms that are presently covering the company, MarketBeat reports. Eight equities research analysts have rated the stock with a hold recommendation and six have given a buy recommendation to the company. The average twelve-month target price among brokerages that have covered the stock in the last year is $70.00.

A number of brokerages have recently issued reports on ES. Bank of America boosted their target price on Eversource Energy from $67.00 to $68.00 and gave the stock a “neutral” rating in a report on Thursday, August 29th. BMO Capital Markets boosted their price objective on shares of Eversource Energy from $70.00 to $74.00 and gave the stock a “market perform” rating in a research note on Thursday, October 3rd. Scotiabank raised their target price on Eversource Energy from $57.00 to $66.00 and gave the company a “sector perform” rating in a report on Tuesday, August 20th. StockNews.com cut Eversource Energy from a “hold” rating to a “sell” rating in a report on Saturday, July 27th. Finally, Barclays boosted their target price on shares of Eversource Energy from $65.00 to $69.00 and gave the stock an “equal weight” rating in a research report on Monday, July 22nd.

Eversource Energy Trading Down 2.0 %

Shares of ES stock opened at $64.10 on Tuesday. Eversource Energy has a 1-year low of $52.03 and a 1-year high of $69.01. The firm’s 50-day simple moving average is $66.63 and its 200-day simple moving average is $61.87. The firm has a market cap of $22.58 billion, a P/E ratio of -54.32, a PEG ratio of 2.54 and a beta of 0.61. The company has a debt-to-equity ratio of 1.74, a current ratio of 0.75 and a quick ratio of 0.66.

Eversource Energy (NYSE:ES) last issued its earnings results on Wednesday, July 31st. The utilities provider reported $0.95 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.95. Eversource Energy had a positive return on equity of 10.34% and a negative net margin of 0.81%. The firm had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.90 billion. During the same quarter last year, the firm earned $1.00 earnings per share. The firm’s revenue for the quarter was down 3.7% compared to the same quarter last year. As a group, equities analysts forecast that Eversource Energy will post 4.57 EPS for the current year.

Eversource Energy Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 23rd were issued a $0.715 dividend. This represents a $2.86 dividend on an annualized basis and a dividend yield of 4.46%. The ex-dividend date of this dividend was Monday, September 23rd. Eversource Energy’s payout ratio is -242.37%.

Insider Activity at Eversource Energy

In other Eversource Energy news, EVP Penelope M. Conner sold 815 shares of the firm’s stock in a transaction dated Tuesday, August 13th. The shares were sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the transaction, the executive vice president now directly owns 9,032 shares in the company, valued at $591,596. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, EVP Penelope M. Conner sold 815 shares of the stock in a transaction on Tuesday, August 13th. The stock was sold at an average price of $65.50, for a total value of $53,382.50. Following the completion of the sale, the executive vice president now owns 9,032 shares in the company, valued at $591,596. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Penelope M. Conner sold 500 shares of Eversource Energy stock in a transaction on Friday, August 9th. The shares were sold at an average price of $64.94, for a total value of $32,470.00. Following the transaction, the executive vice president now owns 9,847 shares in the company, valued at $639,464.18. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.41% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Eversource Energy

A number of large investors have recently made changes to their positions in ES. Massmutual Trust Co. FSB ADV raised its stake in shares of Eversource Energy by 14.7% during the 3rd quarter. Massmutual Trust Co. FSB ADV now owns 1,316 shares of the utilities provider’s stock worth $90,000 after purchasing an additional 169 shares in the last quarter. Salem Investment Counselors Inc. raised its position in Eversource Energy by 49.7% during the first quarter. Salem Investment Counselors Inc. now owns 545 shares of the utilities provider’s stock valued at $33,000 after acquiring an additional 181 shares in the last quarter. Addison Advisors LLC grew its position in Eversource Energy by 27.4% in the second quarter. Addison Advisors LLC now owns 860 shares of the utilities provider’s stock worth $49,000 after acquiring an additional 185 shares in the last quarter. Bar Harbor Wealth Management grew its position in Eversource Energy by 4.1% in the second quarter. Bar Harbor Wealth Management now owns 4,780 shares of the utilities provider’s stock worth $271,000 after acquiring an additional 190 shares in the last quarter. Finally, Avantax Advisory Services Inc. lifted its stake in shares of Eversource Energy by 2.5% in the 1st quarter. Avantax Advisory Services Inc. now owns 7,944 shares of the utilities provider’s stock valued at $475,000 after purchasing an additional 192 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

About Eversource Energy

Eversource Energy, a public utility holding company, engages in the energy delivery business. The company operates 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.