Eversource Energy (NYSE:ES) Receives Consensus Recommendation of “Hold” from Brokerages

Shares of Eversource Energy (NYSE:ES) have earned a consensus recommendation of “Hold” from the eleven brokerages that are currently covering the stock, MarketBeat reports. Ten analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price target among brokerages that have issued a report on the stock in the last year is $68.67.

ES has been the subject of a number of research reports. Barclays reduced their target price on shares of Eversource Energy from $72.00 to $61.00 and set an “equal weight” rating for the company in a report on Tuesday, October 24th. Citigroup cut their target price on Eversource Energy from $80.00 to $58.00 and set a “neutral” rating on the stock in a research report on Thursday, October 26th. Morgan Stanley decreased their price target on Eversource Energy from $78.00 to $66.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 25th. Evercore ISI downgraded Eversource Energy from an “outperform” rating to an “in-line” rating and cut their price objective for the stock from $84.00 to $65.00 in a report on Tuesday. Finally, Mizuho decreased their target price on shares of Eversource Energy from $79.00 to $73.00 in a report on Friday, July 28th.

Eversource Energy Stock Down 0.8 %

Shares of Eversource Energy stock opened at $53.80 on Friday. The firm has a market cap of $18.79 billion, a P/E ratio of 16.11, a P/E/G ratio of 2.57 and a beta of 0.54. The business has a 50-day moving average price of $57.82 and a 200 day moving average price of $66.35. The company has a quick ratio of 0.57, a current ratio of 0.56 and a debt-to-equity ratio of 1.41. Eversource Energy has a fifty-two week low of $52.03 and a fifty-two week high of $87.71.

Eversource Energy (NYSE:ES) last announced its quarterly earnings data on Monday, November 6th. The utilities provider reported $0.97 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.98 by ($0.01). Eversource Energy had a return on equity of 9.64% and a net margin of 9.52%. The firm had revenue of $2.79 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the business earned $1.01 earnings per share. The business’s revenue for the quarter was down 13.2% compared to the same quarter last year. On average, sell-side analysts forecast that Eversource Energy will post 4.35 earnings per share for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 29th. Investors of record on Monday, September 25th were paid a dividend of $0.675 per share. The ex-dividend date was Friday, September 22nd. This represents a $2.70 annualized dividend and a yield of 5.02%. Eversource Energy’s payout ratio is 80.84%.

Insiders Place Their Bets

In related news, VP Gregory B. Butler sold 15,000 shares of the business’s stock in a transaction on Wednesday, August 16th. The shares were sold at an average price of $64.25, for a total transaction of $963,750.00. Following the transaction, the vice president now owns 63,554 shares of the company’s stock, valued at $4,083,344.50. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.41% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Moneta Group Investment Advisors LLC raised its stake in Eversource Energy by 101,201.5% during the fourth quarter. Moneta Group Investment Advisors LLC now owns 12,617,104 shares of the utilities provider’s stock worth $1,057,818,000 after acquiring an additional 12,604,649 shares in the last quarter. Norges Bank acquired a new stake in shares of Eversource Energy in the fourth quarter valued at $274,262,000. Balyasny Asset Management L.P. raised its holdings in shares of Eversource Energy by 4,397.4% in the first quarter. Balyasny Asset Management L.P. now owns 1,072,762 shares of the utilities provider’s stock valued at $83,954,000 after buying an additional 1,048,909 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Eversource Energy by 64.0% during the 2nd quarter. Goldman Sachs Group Inc. now owns 2,285,636 shares of the utilities provider’s stock worth $193,067,000 after buying an additional 891,641 shares in the last quarter. Finally, Empower Advisory Group LLC acquired a new position in Eversource Energy during the 1st quarter worth about $62,562,000. 80.83% of the stock is owned by institutional investors.

Eversource Energy Company Profile

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.