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

Shares of Eversource Energy (NYSE:ES) have been assigned an average rating of “Hold” from the ten ratings firms that are presently covering the company, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell recommendation, four have given a hold recommendation and three have assigned a buy recommendation to the company. The average 1 year target price among brokers that have issued ratings on the stock in the last year is $65.78.

Several research firms have recently issued reports on ES. StockNews.com upgraded shares of Eversource Energy from a “sell” rating to a “hold” rating in a report on Monday, April 14th. Guggenheim reissued a “buy” rating on shares of Eversource Energy in a research note on Monday, February 10th. Barclays decreased their target price on Eversource Energy from $72.00 to $69.00 and set an “equal weight” rating for the company in a research note on Wednesday, January 22nd. Wells Fargo & Company cut their price target on shares of Eversource Energy from $79.00 to $75.00 and set an “overweight” rating for the company in a report on Thursday, February 13th. Finally, Jefferies Financial Group cut their target price on shares of Eversource Energy from $52.00 to $47.00 and set an “underperform” rating for the company in a research note on Tuesday, January 28th.

Eversource Energy Price Performance

Shares of NYSE:ES opened at $57.38 on Friday. The firm’s 50 day moving average is $60.22 and its two-hundred day moving average is $60.56. The firm has a market capitalization of $21.06 billion, a P/E ratio of 24.84, a PEG ratio of 2.35 and a beta of 0.58. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 1.71. Eversource Energy has a 52 week low of $52.28 and a 52 week high of $69.01.

Eversource Energy (NYSE:ES) last posted its earnings results on Tuesday, February 11th. The utilities provider reported $1.01 EPS 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 anticipate that Eversource Energy will post 4.75 earnings per share for the current year.

Eversource Energy Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, March 31st. Investors of record on Tuesday, March 4th were paid a $0.7525 dividend. This is an increase from Eversource Energy’s previous quarterly dividend of $0.72. This represents a $3.01 annualized dividend and a yield of 5.25%. The ex-dividend date was Tuesday, March 4th. Eversource Energy’s dividend payout ratio is currently 130.30%.

Insider Buying and Selling at Eversource Energy

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

Hedge Funds Weigh In On Eversource Energy

A number of hedge funds have recently added to or reduced their stakes in ES. Mizuho Bank Ltd. bought a new position in shares of Eversource Energy during the 4th quarter valued at $26,000. Kestra Investment Management LLC bought a new stake in shares of Eversource Energy during the 4th quarter worth about $29,000. Assetmark Inc. increased its holdings in shares of Eversource Energy by 99.2% during the 4th 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 last quarter. Pinney & Scofield Inc. bought a new position in shares of Eversource Energy in the 4th quarter valued at approximately $33,000. Finally, Venturi Wealth Management LLC lifted its holdings in Eversource Energy by 104.5% in the 4th quarter. Venturi Wealth Management LLC now owns 589 shares of the utilities provider’s stock worth $34,000 after purchasing an additional 301 shares during the last quarter. Institutional investors and hedge funds own 79.99% of the company’s stock.

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.