Eversource Energy (NYSE:ES) Earns Hold Rating from Analysts at TD Cowen

TD Cowen assumed coverage on shares of Eversource Energy (NYSE:ES) in a research note published on Thursday morning, Marketbeat reports. The brokerage issued a hold rating and a $76.00 price objective on the utilities provider’s stock.

Other equities analysts also recently issued research reports about the company. Weiss Ratings reissued a “hold (c)” rating on shares of Eversource Energy in a research report on Wednesday, October 8th. Mizuho boosted their target price on Eversource Energy from $68.00 to $72.00 and gave the company an “outperform” rating in a research report on Wednesday, June 25th. Janney Montgomery Scott reissued a “neutral” rating on shares of Eversource Energy in a research report on Monday, October 13th. Finally, Bank of America boosted their target price on Eversource Energy from $62.00 to $67.00 and gave the company a “neutral” rating in a research report on Monday, July 21st. Three research analysts have rated the stock with a Buy rating, six have assigned a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $65.67.

Eversource Energy Stock Performance

NYSE:ES opened at $72.52 on Thursday. The company has a debt-to-equity ratio of 1.67, a current ratio of 0.71 and a quick ratio of 0.63. Eversource Energy has a 1 year low of $52.28 and a 1 year high of $74.46. The stock’s 50 day simple moving average is $67.27 and its two-hundred day simple moving average is $64.26. The company has a market cap of $26.91 billion, a price-to-earnings ratio of 31.12, a PEG ratio of 2.83 and a beta of 0.67.

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

Eversource Energy Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Monday, September 22nd were given 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 129.18%.

Insider Buying and Selling

In other Eversource Energy news, insider Loretta D. Keane acquired 3,780 shares of the business’s stock in a transaction on Friday, August 22nd. The shares were bought at an average price of $66.07 per share, with a total value of $249,744.60. Following the transaction, the insider directly owned 12,033 shares of the company’s stock, valued at $795,020.31. The trade was a 45.80% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. 0.41% of the stock is owned by company insiders.

Hedge Funds Weigh In On Eversource Energy

Several hedge funds have recently bought and sold shares of ES. GAMMA Investing LLC grew its position in Eversource Energy by 24.2% in the 1st quarter. GAMMA Investing LLC now owns 6,831 shares of the utilities provider’s stock valued at $424,000 after acquiring an additional 1,333 shares during the last quarter. Assenagon Asset Management S.A. lifted its holdings in shares of Eversource Energy by 5.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 13,942 shares of the utilities provider’s stock worth $866,000 after buying an additional 734 shares during the period. Janney Montgomery Scott LLC lifted its holdings in shares of Eversource Energy by 126.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 228,553 shares of the utilities provider’s stock worth $14,195,000 after buying an additional 127,752 shares during the period. QRG Capital Management Inc. lifted its holdings in shares of Eversource Energy by 10.6% in the 1st quarter. QRG Capital Management Inc. now owns 10,843 shares of the utilities provider’s stock worth $673,000 after buying an additional 1,035 shares during the period. Finally, State of Alaska Department of Revenue lifted its holdings in shares of Eversource Energy by 2.8% in the 1st quarter. State of Alaska Department of Revenue now owns 42,969 shares of the utilities provider’s stock worth $2,668,000 after buying an additional 1,185 shares during the period. Institutional investors 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.