Eversource Energy (NYSE:ES) Receives $68.38 Average Target Price from Brokerages

Eversource Energy (NYSE:ES) has earned an average rating of “Hold” from the thirteen research firms that are covering the company, MarketBeat reports. Two equities research analysts have rated the stock with a sell recommendation, five have assigned a hold recommendation and six have issued a buy recommendation on the company. The average 1 year price target among brokers that have covered the stock in the last year is $68.38.

ES has been the subject of a number of recent analyst reports. Scotiabank downgraded shares of Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their price objective for the company from $66.00 to $56.00 in a research report on Thursday, December 12th. Jefferies Financial Group began coverage on Eversource Energy in a research note on Tuesday, December 3rd. They set an “underperform” rating and a $52.00 target price for the company. StockNews.com upgraded Eversource Energy from a “sell” rating to a “hold” rating in a research note on Saturday, December 21st. BMO Capital Markets dropped their price objective on Eversource Energy from $74.00 to $72.00 and set a “market perform” rating on the stock in a report on Tuesday, October 15th. Finally, Mizuho raised their target price on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd.

Hedge Funds Weigh In On Eversource Energy

Hedge funds have recently bought and sold shares of the stock. Brooklyn Investment Group purchased a new position in Eversource Energy in the 3rd quarter valued at about $31,000. Ashton Thomas Securities LLC purchased a new position in shares of Eversource Energy during the 3rd quarter worth $32,000. UMB Bank n.a. grew its position in shares of Eversource Energy by 62.9% in the third quarter. UMB Bank n.a. now owns 513 shares of the utilities provider’s stock valued at $35,000 after purchasing an additional 198 shares during the period. Larson Financial Group LLC lifted its position in Eversource Energy by 162.0% during the third quarter. Larson Financial Group LLC now owns 566 shares of the utilities provider’s stock worth $38,000 after buying an additional 350 shares during the period. Finally, MFA Wealth Advisors LLC acquired a new stake in Eversource Energy in the 3rd quarter worth about $48,000. Hedge funds and other institutional investors own 79.99% of the company’s stock.

Eversource Energy Stock Performance

NYSE:ES opened at $56.63 on Thursday. The company has a debt-to-equity ratio of 1.73, a current ratio of 0.86 and a quick ratio of 0.76. The stock’s 50 day simple moving average is $59.64 and its 200-day simple moving average is $62.94. Eversource Energy has a 12-month low of $52.09 and a 12-month high of $69.01.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.08 by $0.05. Eversource Energy had a negative net margin of 4.73% and a positive return on equity of 10.90%. The company had revenue of $3.06 billion for the quarter, compared to analysts’ expectations of $3.06 billion. During the same period in the previous year, the company posted $0.97 EPS. Eversource Energy’s revenue was up 9.7% compared to the same quarter last year. As a group, analysts expect that Eversource Energy will post 4.56 earnings per share for the current year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th were issued a dividend of $0.715 per share. The ex-dividend date of this dividend was Wednesday, December 18th. This represents a $2.86 annualized dividend and a yield of 5.05%. Eversource Energy’s dividend payout ratio (DPR) is currently -182.17%.

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.