Eversource Energy (NYSE:ES) Receives Average Recommendation of “Hold” from Analysts

Shares of Eversource Energy (NYSE:ESGet Rating) have been given an average recommendation of “Hold” by the twelve research firms that are presently covering the company, Marketbeat reports. One analyst has rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokers that have covered the stock in the last year is $90.10.

Several brokerages have recently weighed in on ES. Barclays decreased their target price on Eversource Energy from $97.00 to $89.00 and set an “equal weight” rating for the company in a research report on Monday, July 18th. Credit Suisse Group initiated coverage on Eversource Energy in a research report on Tuesday, April 26th. They issued a “neutral” rating and a $92.00 target price for the company. Guggenheim upgraded Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $92.00 to $97.00 in a research note on Friday, July 8th. UBS Group cut their price target on Eversource Energy from $92.00 to $85.00 and set a “neutral” rating on the stock in a research note on Thursday, June 30th. Finally, Morgan Stanley cut their price target on Eversource Energy from $97.00 to $94.00 and set an “equal weight” rating on the stock in a research note on Monday, May 23rd.

Eversource Energy Price Performance

Shares of NYSE ES opened at $84.06 on Friday. Eversource Energy has a 1-year low of $77.07 and a 1-year high of $94.63. The business has a 50-day moving average of $86.12 and a 200-day moving average of $86.73. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.62 and a quick ratio of 0.57. The company has a market capitalization of $28.99 billion, a price-to-earnings ratio of 22.36, a PEG ratio of 3.25 and a beta of 0.45.

Eversource Energy (NYSE:ESGet Rating) last issued its earnings results on Wednesday, May 4th. The utilities provider reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.22 by $0.08. Eversource Energy had a return on equity of 9.52% and a net margin of 12.32%. The company had revenue of $3.47 billion during the quarter, compared to the consensus estimate of $2.89 billion. During the same quarter in the prior year, the business earned $1.15 earnings per share. The company’s revenue was up 22.9% compared to the same quarter last year. On average, equities analysts anticipate that Eversource Energy will post 4.12 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 30th. Shareholders of record on Thursday, May 19th were paid a dividend of $0.6375 per share. This represents a $2.55 annualized dividend and a yield of 3.03%. The ex-dividend date of this dividend was Wednesday, May 18th. Eversource Energy’s payout ratio is currently 67.82%.

Insider Buying and Selling at Eversource Energy

In other news, VP Jay S. Buth sold 650 shares of the stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $92.55, for a total transaction of $60,157.50. Following the sale, the vice president now directly owns 17,516 shares in the company, valued at approximately $1,621,105.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Frederica M. Williams sold 1,859 shares of the stock in a transaction that occurred on Monday, May 9th. The stock was sold at an average price of $90.84, for a total transaction of $168,871.56. Following the sale, the insider now directly owns 20,286 shares in the company, valued at approximately $1,842,780.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jay S. Buth sold 650 shares of the stock in a transaction that occurred on Wednesday, June 1st. The stock was sold at an average price of $92.55, for a total value of $60,157.50. Following the completion of the transaction, the vice president now directly owns 17,516 shares of the company’s stock, valued at $1,621,105.80. The disclosure for this sale can be found here. Insiders have sold 6,509 shares of company stock worth $596,029 over the last quarter. 0.38% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Eversource Energy

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ES. BlackRock Inc. boosted its stake in Eversource Energy by 19.3% during the 4th quarter. BlackRock Inc. now owns 39,646,912 shares of the utilities provider’s stock valued at $3,607,077,000 after purchasing an additional 6,402,262 shares in the last quarter. Nordea Investment Management AB boosted its stake in Eversource Energy by 1,746.9% during the 1st quarter. Nordea Investment Management AB now owns 4,002,400 shares of the utilities provider’s stock valued at $355,813,000 after purchasing an additional 3,785,686 shares in the last quarter. Public Sector Pension Investment Board boosted its stake in Eversource Energy by 356.0% during the 4th quarter. Public Sector Pension Investment Board now owns 2,889,176 shares of the utilities provider’s stock valued at $262,857,000 after purchasing an additional 2,255,575 shares in the last quarter. Norges Bank bought a new position in Eversource Energy during the 4th quarter valued at $197,480,000. Finally, State Street Corp boosted its stake in Eversource Energy by 6.8% during the 1st quarter. State Street Corp now owns 23,681,621 shares of the utilities provider’s stock valued at $2,088,482,000 after purchasing an additional 1,517,624 shares in the last quarter. 80.74% of the stock is owned by institutional investors.

About Eversource Energy

(Get Rating)

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.

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Analyst Recommendations for Eversource Energy (NYSE:ES)

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