Eversource Energy (NYSE:ES) Receives “Neutral” Rating from Janney Montgomery Scott

Janney Montgomery Scott restated their neutral rating on shares of Eversource Energy (NYSE:ES) in a report issued on Monday morning, Marketbeat Ratings reports.

Other equities research analysts also recently issued reports about the stock. Mizuho lifted their price objective on shares of Eversource Energy from $68.00 to $72.00 and gave the stock an “outperform” rating in a research note on Wednesday, June 25th. Bank of America boosted their price objective on shares of Eversource Energy from $62.00 to $67.00 and gave the company a “neutral” rating in a report on Monday, July 21st. Finally, Weiss Ratings reissued a “hold (c)” rating on shares of Eversource Energy in a report on Wednesday, October 8th. Three equities research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and three have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $64.38.

Eversource Energy Price Performance

NYSE ES opened at $70.96 on Monday. The firm’s fifty day simple moving average is $66.79 and its two-hundred day simple moving average is $64.01. The company has a current ratio of 0.71, a quick ratio of 0.63 and a debt-to-equity ratio of 1.67. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $74.46. The firm has a market capitalization of $26.33 billion, a P/E ratio of 30.45, a P/E/G ratio of 2.72 and a beta of 0.67.

Eversource Energy (NYSE:ES) last released its quarterly earnings results on Thursday, July 31st. The utilities provider reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.95 by $0.01. Eversource Energy had a net margin of 6.60% and a return on equity of 11.00%. The business had revenue of $2.84 billion for the quarter, compared to analyst estimates of $3.01 billion. During the same period in the previous year, the company earned $0.95 earnings per share. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. Eversource Energy has set its FY 2025 guidance at 4.670-4.820 EPS. Analysts forecast that Eversource Energy will post 4.75 EPS for the current fiscal year.

Eversource Energy Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were issued a $0.7525 dividend. This represents a $3.01 annualized dividend and a yield of 4.2%. The ex-dividend date of this dividend was Monday, September 22nd. Eversource Energy’s dividend payout ratio is presently 129.18%.

Insider Buying and Selling

In other Eversource Energy news, insider Loretta D. Keane purchased 3,780 shares of the stock in a transaction on Friday, August 22nd. The shares were bought at an average cost of $66.07 per share, with a total value of $249,744.60. Following the completion of the acquisition, the insider owned 12,033 shares in the company, valued at $795,020.31. This trade represents a 45.80% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Eversource Energy

Several hedge funds have recently added to or reduced their stakes in ES. Farther Finance Advisors LLC boosted its holdings in Eversource Energy by 105.6% in the first quarter. Farther Finance Advisors LLC now owns 4,623 shares of the utilities provider’s stock valued at $287,000 after purchasing an additional 2,374 shares during the last quarter. GAMMA Investing LLC boosted its holdings in Eversource Energy by 24.2% in the first quarter. GAMMA Investing LLC now owns 6,831 shares of the utilities provider’s stock valued at $424,000 after purchasing an additional 1,333 shares during the last quarter. Assenagon Asset Management S.A. boosted its holdings in Eversource Energy by 5.6% in the first quarter. Assenagon Asset Management S.A. now owns 13,942 shares of the utilities provider’s stock valued at $866,000 after purchasing an additional 734 shares during the last quarter. CX Institutional purchased a new stake in Eversource Energy in the first quarter valued at $162,000. Finally, Simon Quick Advisors LLC purchased a new stake in Eversource Energy in the first quarter valued at $238,000. 79.99% of the stock is owned by hedge funds and other 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.