Barclays Has Lowered Expectations for Eversource Energy (NYSE:ES) Stock Price

Eversource Energy (NYSE:ES) had its price objective cut by Barclays from $72.00 to $69.00 in a research note published on Wednesday,Benzinga reports. They currently have an equal weight rating on the utilities provider’s stock.

ES has been the topic of several other research reports. 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 research note on Tuesday, October 15th. StockNews.com raised shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Saturday, December 21st. Jefferies Financial Group began coverage on shares of Eversource Energy in a report on Tuesday, December 3rd. They issued an “underperform” rating and a $52.00 price target on the stock. Scotiabank cut Eversource Energy from a “sector perform” rating to a “sector underperform” rating and reduced their price objective for the stock from $66.00 to $56.00 in a report on Thursday, December 12th. Finally, Mizuho upped their price objective on Eversource Energy from $62.00 to $73.00 and gave the company an “outperform” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $67.83.

Eversource Energy Stock Down 4.2 %

NYSE:ES opened at $55.80 on Wednesday. The company has a debt-to-equity ratio of 1.73, a quick ratio of 0.76 and a current ratio of 0.86. Eversource Energy has a 52-week low of $52.09 and a 52-week high of $69.01. The company has a market cap of $20.44 billion, a PE ratio of -35.54, a PEG ratio of 2.21 and a beta of 0.62. The stock has a 50-day simple moving average of $59.32 and a 200 day simple moving average of $62.97.

Eversource Energy (NYSE:ES) last released its earnings results on Monday, November 4th. The utilities provider reported $1.13 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.08 by $0.05. The business had revenue of $3.06 billion for the quarter, compared to the consensus estimate of $3.06 billion. Eversource Energy had a positive return on equity of 10.90% and a negative net margin of 4.73%. Eversource Energy’s quarterly revenue was up 9.7% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.97 earnings per share. On average, sell-side analysts expect that Eversource Energy will post 4.56 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, December 31st. Shareholders of record on Wednesday, December 18th were given a dividend of $0.715 per share. The ex-dividend date was Wednesday, December 18th. This represents a $2.86 annualized dividend and a yield of 5.13%. Eversource Energy’s dividend payout ratio is currently -182.17%.

Institutional Investors Weigh In On Eversource Energy

A number of large investors have recently modified their holdings of the business. Perigon Wealth Management LLC raised its stake in Eversource Energy by 31.6% during the fourth quarter. Perigon Wealth Management LLC now owns 4,602 shares of the utilities provider’s stock worth $267,000 after acquiring an additional 1,104 shares in the last quarter. Pacer Advisors Inc. increased its holdings in Eversource Energy by 43.6% in the 4th quarter. Pacer Advisors Inc. now owns 37,608 shares of the utilities provider’s stock worth $2,160,000 after purchasing an additional 11,414 shares in the last quarter. KBC Group NV boosted its stake in shares of Eversource Energy by 1.0% during the fourth quarter. KBC Group NV now owns 319,048 shares of the utilities provider’s stock valued at $18,323,000 after purchasing an additional 3,019 shares in the last quarter. Blue Trust Inc. raised its holdings in Eversource Energy by 49.6% in the 4th quarter. Blue Trust Inc. now owns 3,510 shares of the utilities provider’s stock valued at $202,000 after buying an additional 1,163 shares during the last quarter. Finally, PFG Investments LLC grew its holdings in Eversource Energy by 6.9% during the 4th quarter. PFG Investments LLC now owns 17,948 shares of the utilities provider’s stock worth $1,031,000 after acquiring an additional 1,161 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.