Eversource Energy (NYSE:ES) Price Target Lowered to $70.00 at Mizuho

Eversource Energy (NYSE:ES) had its price target trimmed by Mizuho from $75.00 to $70.00 in a report published on Thursday morning,Benzinga reports. The firm currently has a neutral rating on the utilities provider’s stock.

A number of other analysts have also commented on the company. BMO Capital Markets cut their price target on Eversource Energy from $79.00 to $75.00 and set a “market perform” rating on the stock in a report on Monday. JPMorgan Chase & Co. increased their price objective on Eversource Energy from $72.00 to $75.00 and gave the stock an “underweight” rating in a report on Thursday, March 12th. Weiss Ratings reissued a “hold (c+)” rating on shares of Eversource Energy in a research report on Wednesday, January 28th. UBS Group cut their target price on Eversource Energy from $78.00 to $73.00 and set a “neutral” rating on the stock in a research note on Wednesday, December 17th. Finally, Bank of America reaffirmed a “buy” rating on shares of Eversource Energy in a research report on Monday, March 2nd. One research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, five have given a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $73.40.

Eversource Energy Stock Up 1.3%

Shares of ES stock opened at $67.93 on Thursday. Eversource Energy has a 12-month low of $52.28 and a 12-month high of $76.41. The company has a quick ratio of 0.59, a current ratio of 0.65 and a debt-to-equity ratio of 1.66. The firm has a fifty day moving average of $71.37 and a 200-day moving average of $69.96. The company has a market capitalization of $25.51 billion, a price-to-earnings ratio of 14.86, a P/E/G ratio of 2.90 and a beta of 0.76.

Eversource Energy (NYSE:ES) last posted its quarterly earnings data on Thursday, February 12th. The utilities provider reported $1.12 EPS for the quarter, beating the consensus estimate of $1.10 by $0.02. The business had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $2.94 billion. Eversource Energy had a net margin of 12.49% and a return on equity of 11.18%. The firm’s revenue was up 13.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.01 EPS. Eversource Energy has set its FY 2026 guidance at 4.800-4.950 EPS. As a group, equities research analysts predict that Eversource Energy will post 4.75 earnings per share for the current fiscal year.

Eversource Energy Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Thursday, March 5th will be given a dividend of $0.7875 per share. This represents a $3.15 annualized dividend and a yield of 4.6%. This is an increase from Eversource Energy’s previous quarterly dividend of $0.75. The ex-dividend date of this dividend is Thursday, March 5th. Eversource Energy’s payout ratio is currently 68.93%.

Insider Buying and Selling at Eversource Energy

In other news, insider John Y. Kim sold 6,000 shares of Eversource Energy stock in a transaction dated Thursday, February 19th. The shares were sold at an average price of $73.57, for a total value of $441,420.00. Following the completion of the transaction, the insider owned 12,339 shares of the company’s stock, valued at $907,780.23. This trade represents a 32.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP John M. Moreira sold 7,800 shares of the business’s stock in a transaction dated Thursday, February 19th. The stock was sold at an average price of $73.90, for a total transaction of $576,420.00. Following the transaction, the executive vice president owned 43,269 shares in the company, valued at $3,197,579.10. This represents a 15.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 16,381 shares of company stock worth $1,211,079 over the last quarter. 0.41% of the stock is currently owned by insiders.

Institutional Trading of Eversource Energy

Several institutional investors and hedge funds have recently bought and sold shares of ES. Norges Bank acquired a new position in shares of Eversource Energy during the 4th quarter worth approximately $324,032,000. Northwestern Mutual Wealth Management Co. grew its position in shares of Eversource Energy by 23,707.0% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 4,649,747 shares of the utilities provider’s stock valued at $313,067,000 after purchasing an additional 4,630,216 shares during the last quarter. Victory Capital Management Inc. increased its stake in shares of Eversource Energy by 61.8% during the fourth quarter. Victory Capital Management Inc. now owns 9,546,217 shares of the utilities provider’s stock worth $642,747,000 after purchasing an additional 3,645,555 shares during the period. Lazard Asset Management LLC increased its stake in shares of Eversource Energy by 43,905.7% during the second quarter. Lazard Asset Management LLC now owns 2,692,707 shares of the utilities provider’s stock worth $171,309,000 after purchasing an additional 2,686,588 shares during the period. Finally, Deutsche Bank AG lifted its holdings in Eversource Energy by 78.1% during the 4th quarter. Deutsche Bank AG now owns 5,341,986 shares of the utilities provider’s stock worth $359,676,000 after purchasing an additional 2,341,912 shares during the last quarter. Institutional investors own 79.99% of the company’s stock.

About Eversource Energy

Eversource Energy (NYSE: ES) is a publicly traded, regulated energy company headquartered in Hartford, Connecticut. The company’s core business is the delivery and transmission of electricity and natural gas to residential, commercial and industrial customers across parts of New England. Eversource operates transmission and distribution networks, maintains electrical infrastructure, responds to outages and storms, and manages natural gas pipeline and distribution systems in the regions it serves.

Eversource serves customers primarily in Connecticut, Massachusetts and New Hampshire, operating through locally regulated utility subsidiaries that administer customer service, billing, meter reading and localized operations.