Eversource Energy (NYSE:ES) Trading Up 1.9% – What’s Next?

Eversource Energy (NYSE:ES) was up 1.9% during trading on Friday . The company traded as high as $61.65 and last traded at $61.47. Approximately 209,804 shares traded hands during trading, a decline of 90% from the average daily volume of 2,159,030 shares. The stock had previously closed at $60.30.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the stock. StockNews.com cut shares of Eversource Energy from a “hold” rating to a “sell” rating in a research report on Friday, March 21st. Jefferies Financial Group decreased their price target on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating on the stock in a report on Tuesday, January 28th. Wells Fargo & Company dropped their target price on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a research report on Thursday, February 13th. Barclays lowered their price target on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a report on Wednesday, January 22nd. Finally, Scotiabank dropped their price objective on shares of Eversource Energy from $56.00 to $55.00 and set a “sector underperform” rating on the stock in a research note on Thursday, February 13th. Three analysts have rated the stock with a sell rating, four have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $67.40.

Eversource Energy Stock Up 2.1 %

The firm has a market cap of $22.60 billion, a price-to-earnings ratio of 26.67, a price-to-earnings-growth ratio of 2.35 and a beta of 0.60. The company has a quick ratio of 0.76, a current ratio of 0.76 and a debt-to-equity ratio of 1.71. The stock’s 50 day moving average is $60.21 and its 200 day moving average is $61.67.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Tuesday, February 11th. The utilities provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $1.00 by $0.01. Eversource Energy had a return on equity of 10.99% and a net margin of 6.82%. Analysts forecast that Eversource Energy will post 4.75 EPS for the current year.

Eversource Energy Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 31st. Investors of record on Tuesday, March 4th will be issued a dividend of $0.7525 per share. This represents a $3.01 dividend on an annualized basis and a yield of 4.89%. This is a boost from Eversource Energy’s previous quarterly dividend of $0.72. The ex-dividend date is Tuesday, March 4th. Eversource Energy’s dividend payout ratio (DPR) is presently 130.30%.

Insider Transactions at Eversource Energy

In other Eversource Energy news, VP Jay S. Buth sold 980 shares of Eversource Energy stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $62.99, for a total value of $61,730.20. Following the completion of the sale, the vice president now directly owns 24,374 shares in the company, valued at $1,535,318.26. The trade was a 3.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Frederica M. Williams sold 3,092 shares of the stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $62.26, for a total transaction of $192,507.92. Following the transaction, the insider now owns 22,671 shares in the company, valued at approximately $1,411,496.46. This trade represents a 12.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Institutional Trading of Eversource Energy

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Mizuho Bank Ltd. acquired a new stake in Eversource Energy in the 4th quarter worth approximately $26,000. Kestra Investment Management LLC acquired a new position in Eversource Energy during the fourth quarter worth $29,000. Assetmark Inc. lifted its holdings in shares of Eversource Energy by 99.2% during the fourth quarter. Assetmark Inc. now owns 510 shares of the utilities provider’s stock valued at $29,000 after acquiring an additional 254 shares during the period. Brooklyn Investment Group bought a new stake in shares of Eversource Energy in the 3rd quarter worth about $31,000. Finally, Pinney & Scofield Inc. acquired a new stake in shares of Eversource Energy during the 4th quarter worth about $33,000. 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.