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

Eversource Energy (NYSE:ES) has received a consensus recommendation of “Hold” from the thirteen analysts that are covering the firm, MarketBeat Ratings reports. Seven investment analysts have rated the stock with a hold rating and six 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 $66.23.

ES has been the subject of a number of research reports. The Goldman Sachs Group began coverage on shares of Eversource Energy in a research note on Wednesday, April 10th. They set a “buy” rating and a $73.00 target price for the company. Citigroup increased their target price on Eversource Energy from $58.00 to $62.00 and gave the company a “neutral” rating in a report on Thursday, February 15th. Scotiabank lowered their price target on Eversource Energy from $61.00 to $57.00 and set a “sector perform” rating on the stock in a research note on Monday, April 22nd. Mizuho upgraded Eversource Energy from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $54.00 to $62.00 in a research report on Thursday, February 15th. Finally, BMO Capital Markets raised their price objective on Eversource Energy from $65.00 to $66.00 and gave the company a “market perform” rating in a report on Friday.

Insider Activity

In related news, insider Frederica M. Williams sold 2,714 shares of the firm’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $57.60, for a total transaction of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares of the company’s stock, valued at approximately $1,245,369.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Eversource Energy news, insider Linda Dorcena Forry sold 822 shares of the company’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $58.12, for a total transaction of $47,774.64. Following the transaction, the insider now directly owns 10,485 shares in the company, valued at $609,388.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Frederica M. Williams sold 2,714 shares of Eversource Energy stock in a transaction on Monday, February 26th. The shares were sold at an average price of $57.60, for a total value of $156,326.40. Following the completion of the sale, the insider now directly owns 21,621 shares of the company’s stock, valued at $1,245,369.60. The disclosure for this sale can be found here. Corporate insiders own 0.41% of the company’s stock.

Hedge Funds Weigh In On Eversource Energy

Several hedge funds have recently bought and sold shares of the company. Heritage Wealth Advisors acquired a new position in shares of Eversource Energy in the fourth quarter worth $25,000. Exchange Traded Concepts LLC acquired a new stake in Eversource Energy in the 4th quarter valued at about $26,000. Rise Advisors LLC purchased a new position in shares of Eversource Energy in the 1st quarter valued at about $27,000. Bfsg LLC purchased a new stake in shares of Eversource Energy during the fourth quarter worth approximately $31,000. Finally, Versant Capital Management Inc lifted its stake in Eversource Energy by 62.6% in the first quarter. Versant Capital Management Inc now owns 522 shares of the utilities provider’s stock worth $31,000 after acquiring an additional 201 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

Eversource Energy Stock Performance

NYSE ES opened at $60.01 on Friday. The stock has a market capitalization of $21.05 billion, a price-to-earnings ratio of -50.86, a PEG ratio of 3.29 and a beta of 0.57. The stock has a 50-day moving average of $59.15 and a 200 day moving average of $58.07. The company has a current ratio of 0.67, a quick ratio of 0.59 and a debt-to-equity ratio of 1.66. Eversource Energy has a twelve month low of $52.03 and a twelve month high of $77.97.

Eversource Energy (NYSE:ES) last announced its earnings results on Wednesday, May 1st. The utilities provider reported $1.49 earnings per share for the quarter, topping the consensus estimate of $1.45 by $0.04. Eversource Energy had a positive return on equity of 10.22% and a negative net margin of 3.60%. The business had revenue of $3.33 billion during the quarter, compared to the consensus estimate of $3.69 billion. During the same period in the prior year, the company posted $1.41 EPS. The business’s quarterly revenue was down 12.2% on a year-over-year basis. Sell-side analysts anticipate that Eversource Energy will post 4.49 EPS for the current fiscal year.

Eversource Energy Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Thursday, May 16th will be given a $0.715 dividend. The ex-dividend date is Wednesday, May 15th. This represents a $2.86 dividend on an annualized basis and a yield of 4.77%. Eversource Energy’s dividend payout ratio is currently -242.37%.

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.